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Team Tax tipsNon individuals must be careful about Division 7A. A Division 7A deemed dividend is generally unfranked. Gi...
14/06/2026

Team Tax tips

Non individuals must be careful about Division 7A. A Division 7A deemed dividend is generally unfranked. Given this, the most effective way to provide a payment or other benefit to a shareholder or their associate is to pay it as a normal dividend (with a franking credit if available) and for the shareholder to include it in their assessable income .

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Hilwit Pty Ltd TA 67354003

Team Tax tipsNon individuals must be careful about Division 7A. Division 7A is part of the Income Tax Assessment Act 193...
13/06/2026

Team Tax tips

Non individuals must be careful about Division 7A. Division 7A is part of the Income Tax Assessment Act 1936 and is intended to prevent profits or assets being provided to shareholders or their associates tax free.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsNon individuals must be careful about Division 7A. Division 7A can also apply when a private company provid...
12/06/2026

Team Tax tips

Non individuals must be careful about Division 7A. Division 7A can also apply when a private company provides a payment or benefit to a shareholder or associate through another entity, or if a trust has allocated income to a private company but has not actually paid it, and the trust has provided a payment or benefit to the company's shareholder or their associate.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsNon individuals must be careful about Division 7A. A payment or other benefit provided by a private company...
11/06/2026

Team Tax tips

Non individuals must be careful about Division 7A. A payment or other benefit provided by a private company to a shareholder or their associate can be treated as a dividend for income tax purposes under Division 7A even if the participants treat it as some other form of transaction such as a loan, advance, gift or writing off a debt.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsYou can claim a deduction for the cost of repairing tools and equipment for work. However, if the tools or ...
07/06/2026

Team Tax tips

You can claim a deduction for the cost of repairing tools and equipment for work. However, if the tools or equipment were also used for private purposes, you cannot claim a deduction for that part of the repair cost.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsYou cannot claim a deduction for the cost of connecting a telephone, mobile phone, pager or any other telec...
06/06/2026

Team Tax tips

You cannot claim a deduction for the cost of connecting a telephone, mobile phone, pager or any other telecommunications equipment because it is a capital expense.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsIf you also use your telephone for private purposes, you must apportion the cost of telephone rental betwee...
05/06/2026

Team Tax tips

If you also use your telephone for private purposes, you must apportion the cost of telephone rental between work-related and private use.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsYou can claim a deduction for your telephone rental if you can show that you are on call or are regularly r...
04/06/2026

Team Tax tips

You can claim a deduction for your telephone rental if you can show that you are on call or are regularly required to telephone your employer while you are away from your workplace.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsYou can claim a deduction for the cost of journals, periodicals and magazines that have a content specifica...
31/05/2026

Team Tax tips

You can claim a deduction for the cost of journals, periodicals and magazines that have a content specifically related to your employment.

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Hilwit Pty Ltd TA 67354003

Team Tax tipsYou can claim a deduction for the decline in value of tools and equipment used for work.Get your friends to...
30/05/2026

Team Tax tips

You can claim a deduction for the decline in value of tools and equipment used for work.

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Hilwit Pty Ltd TA 67354003

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Adelaide, SA
5000

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