How are we planning to use taxes this year? The citizens have a right to a straight answer to this question. Thankfully, we have a plan that we wish to breakdown here today. The most important part of our tax allocation for the year comes in the form of constructions to benefit the city. A few new apartment and housing complexes are to be built, so we will need to look into construction equipment rentals as well as partner with a few third-parties to get these projects completed in a timely fashion. Naturally, these projects have the added benefit of creating construction jobs as well.

With the help of careful and thorough mining engineering and the use of high-quality mining equipment parts, we plan to make a few exploratory digs. This could provide a new project for the city based on its results, as well as be used secondarily to build underground in order to facilitate traffic in areas where we see the worst jams at peak times. Updates on this will be provided regularly through press conferences that will also go on the news.

If you have the (also known as a Discretionary Trust) you likely need to distribute the income of a Trust through a resolution to beneficiaries, and must do so BEFORE the end of the financial year (June 30) for the resolution to be effective in determining who is to be assessed on the Trust’s income.

If a Trustee fails to make a resolution to appoint the income of the Trust before the end of the financial year, the Trustee may be assessed by the ATO on the Trust income at the highest marginal tax rate of 49% rather than the rate applicable to the intended beneficiary(s).

TurboTax’s products are some of the most user-focused on the market. The interface is like a chat with a tax preparer, and it makes an effort to explain concepts right on the page as you work. You can skip around if you need to, and a banner running along the side keeps track of where you stand in the process and flags areas you still need to complete.Turbotax is recommended for small business can save your company money when filing federal taxes..

We can help you determine how best to distribute trust income, and prepare the necessary resolutions to SAVE YOU TAX!

Contact us today on (07) 4922 6128

Business Wise
The team at Business Wise don't just do bookkeeping and accounting - we believe that successful businesses are those that are informed, proactive and open to change, and we want to help you on your journey to success.