American Society of Interior Designers - ASID’s Post

Simplified infographic on RA 11976. 

Attention Rental Property Owners! The ATO is sharpening its focus on rental properties this tax season, scrutinising income declarations, deductions, and compliance more closely than ever. At Morrows, we explain what this increased scrutiny means for you and how to ensure you're fully prepared. Whether you need to understand allowable deductions or navigate complex tax rules, our latest article provides essential insights to keep you on the right track. https://lnkd.in/gqVaZsXY #TaxTime #RentalProperty #ATO #TaxCompliance #FinancialAdvice #Morrows

Vitto’s Fun fact✨ The window tax was a property tax in England,and later in Ireland, that was levied between 1696 and 1851. The tax was based on the number of windows in a house, with a higher tax rate for properties with more windows. The window tax led to various architectural responses, such as bricking up windows to reduce the number and, consequently, the tax liability. This resulted in some houses having a bricked-up appearance. Follow @vitto_money for more such facts! #vitto #finance #funfact #tax #taxationhistory #windowtax

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Understanding taxes means knowing your forms! Schedule E dives into diverse income sources like rentals, royalties, and partnerships. Whether you're a property owner, collecting royalties, or receiving earnings from partnerships, Schedule E might be on your tax to-do list. Stay informed, report your earnings right, and Schedule E will be a breeze! #scorps #filingtax #scheduleE #scheduleETax #ScheduleEeligibility #taxableincome #taxactivities #trusts #estates #goalseek #goalseeksharedservices #goalseekaccountants #GoalseekTaxTips #GoalseekInsights #TaxSeason2023 #FinancialPlanning #StaySavvy

📊 Mastering taxes involves understanding the forms! Dive into the world of diverse income sources with Schedule E - your go-to for rentals, royalties, and partnerships. Whether you're a property owner, collecting royalties, or involved in partnerships, Schedule E could be on your tax to-do list. Stay informed, report your earnings accurately, and breeze through Schedule E! 💼✨ #taxseason2023 #financialplanning #ScheduleE #taxtips #StaySavvy #SCORPs #FilingTax #TaxableIncome #TaxActivities #Trusts #Estates #GoalSeek #GoalSeekSharedServices #GoalSeekAccountants #LinkedInPost #Insights

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Attention all rental property owners! Are you maximizing the full value of your rental business? Did you know there are rental business specific tax tips you can utilize to maximize your income? Check out this article for expert advice on navigating the complex world of rental property taxes. Once you have, let's have a discussion on how to best implement the strategies most relavent to your individual rental property business. #familyoffices #taxrelief #stategictaxplanning #lewaltconsultinggroupe https://lnkd.in/eNKeCe6t

The main issue with this one appears to be the lack of a proper Competent Professional (CP). Neither of the two people involved with the development would be anywhere near the qualifying criteria to be considered a Competent Professional in terms of computer science. We certainly wouldn't except either, as they have no qualifications and have never worked in a software development role. Aside from the lack of a competent professional there appear to be some serious issues with the way the costs have been calculated. "...£46,231 had been calculated as 1.5% of FTP's total cost of sales, and that the balance was 24.15% of travel and entertaining." Even if the lack of a CP was overlooked when preparing the original R&D claim, to take this further to a Tribunal is quite frankly bonkers.