Australia’s stage 3 tax cuts are the last stage in the highly debated tax package the Federal Government first announced and implemented in 2018. After much deliberation, the latest version of the Stage 3 tax cuts has been legislated and will come into effect on 1 July 2024. With it comes more tax relief for […]
Tax
Why is my tax refund lower than usual?
Did your tax refund go down this year? If so, you are not alone, in fact it’s very common for tax refunds to fluctuate year on year. It’s really disappointing to not receive money you’re expecting and it can leave you in hot water if you were relying on that cash to pay for something […]
ATO changes to home office expenses
After many months of speculation, in 2023 the ATO announced considerable – and controversial – changes to how you claim home office expenses. The ATO also phased in updated record keeping requirements over the 2022-23 financial year and from 01 March 2023 onwards; detailed record keeping became an essential part of working from home. Without […]
A guide to de-facto tax: What happens now you are 2?
It doesn’t matter whether you are for or against the joint finances debate, once you sign a rental lease or a purchase contract with a partner, you become a de-facto couple by law, and when it comes to tax! What does this mean? Well apart from sounding like an antacid tablet, for tax concerns, de-facto […]
Holiday rental tax deductions: getting it right!
You could be eligible for valuable holiday rental tax deductions if you own a property you use as a holiday rental It usually takes a little time to see a profit but with holiday rental sites like AirBnB and others making holiday rental investments even easier, a growing number of property owners have turned their attention […]
Rental Property Tax Deductions
Are you claiming all your Rental Property tax deductions? If you own an investment property it’s important to know which expenses to claim as rental property tax deductions. However, the expenses you can claim as rental property tax deductions can vary depending on your circumstances: Is the property rented or available for rent? If it’s not, you […]
ATO scammers: What to look for
There are many ATO scammers out there, reputing to be the ATO and using various different means to extract money out of taxpayers. Many of these fraudsters are very clever and will go to great lengths to appear legitimate. What can you do to protect yourself? The ATO have been very active in raising awareness […]
Truck driver tax deductions – What to claim at tax time
Truck drivers often spend a good deal of time away from home so have expenses that quickly mount up. Luckily many of these expenses can be claimed as tax deductions on your annual tax return. Truck driver tax deductions include expenses for training, meals, accommodation, clothing as well as maintenance and repairs of the vehicle. […]
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