Insights

Do you claim Fuel Tax Credits for fuel you use in your heavy vehicle, farm equipment or other machinery for your business? Do you know that you can simplify how you keep records and calculate your fuel tax credit claims?

Understanding the ins-and-outs of salary sacrifice is no easy feat. Like most people, you probably know that it has benefits to your take home pay but do you really understand how it works, what limits apply and whether it's something you can elect to do in your workplace?

Why, how and what to look for if you want to make BAS simple in the agricultural Industry.In the agricultural industry a little planning can make things much easier at BAS time. Record keeping and accurate bookkeeping will make BAS preparation and lodgement flow smoothly, and the process will quickly become stress free.

Rapid advances in technology are now allowing businesses to enhance the speed and accuracy of record keeping and financial analysis – not only the cash in and cash out but payroll, superannuation, invoicing, contacts and more.

What can you claim to reduce your tax? We cover; Deductions you can claim, The importance of a good tax accountant, Avoiding the 'tax trap', ATO links to more information about specific deductions & Murray Nankivell Tax Time Checklists

What is the right Australian business structure for your business? Sole trader, company, trust or partnership? It is not an easy decision to make; the wrong choice could be costly and put your assets at risk. So taking the time to evaluate your choices and make the right one is well worth it in the long run.

Mr Scott Morrison, the Federal Treasurer, handed down his third Budget on 8 May 2018. Being an election budget there were a number of sweeteners below that may be of interest to you.

The financial year is fast coming to a close and it is time to consider your potential taxation position before 30 June.

In this post we're going to explore some of the key strategies to planning for your agricultural business' success . Whether you're a small market garden growing vegetables or a large agriculture business exporting livestock, when it comes to growing a profitable and sustainable agriculture business planning is key to your success.

If you're a truck driver, you'll have heard that recently the ATO has made changes to the way you can claim meals. After working closely with those in the industry, the ATO has reinstated their previous meal-by-meal claims system. With so much change, it can be hard to keep track of exactly what you can claim, and for how much. That's why we've put it all together to help you keep track.

Working farms and agricultural properties, like all businesses, have unique tax deductible expenses when it comes to both the running of the property and capital gains tax (CGT).

We are pleased to announce that Mencel Business Services (MBS) will merge with Murray Nankivell from 1 July 2018. MBS have provided Accounting, Taxation and other business services out of Naracoorte, Robe and Kingston for over 25 years. MBS' Directors, Rick and Robyn Mencel, are planning for their retirement and have decided to merge with Murray Nankivell.