dmca Blog

Pay rise unlikely? Try these tax tricks to increase your income

Chartered accountant Ricardo Neves from financial services firm dmca advisory says people may not have asked their employer, while others may feel the financial gain is not big enough to be worthwhile.

“However, when structured correctly, or if a number of strategies are implemented, the benefits can increase substantially,” he says.

Tania Tonkin - dmca advisory

Fit Out Options For Medical Practices

Tonkin explains lease payments for fitouts are fully tax deductible, so the tax deduction each year equals total lease payments made. “GST is included in the lease payments and can be claimed back against GST payable by the business. It’s also worth noting interest rates are currently quite low and finance providers are typically willing to negotiate this point.”

How to boost your business performance in 2022

Australia is facing a war for the best talent. Investing in your employees is a great idea in 2022. Retaining good people will also help you achieve your goals sooner. This is the year to establish yourself as a real workplace of choice. Focus on training staff, providing career opportunities, creating a great work culture, and cultivating teamwork.

Director Identification Numbers

A Director Identification Number (director ID) is a 15 digit unique identifier that each new and existing director will need to apply for. Similar to a tax file number each director will have a director ID for their lifetime even if they stop being a director, move overseas or change their name.

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