Property Investors – Property Deductions for You

Potential property tax deductions:1. Interest on Your Loan: The most substantial investment property tax deduction available.2. Property Depreciation: Often overlooked but a significant tax deduction.3. Advertising Costs and Agent Fees: Deductible expenses incurred when finding and managing tenants.4. Legal Expenses: Certain legal costs related to challenging tenants can also be claimed.5.
Read More

Claim your expenses – 2021 Tax Planning

Claim your expenses Work-related deductions Claiming all your work-related deductions may considerably reduce your tax bill. Typical work-related expenses include: uniforms and protective items employment-related mobile phone and internet costs subscriptions and union fees travel expenses between worksites or client locations (but not the commute to and from home). If
Read More

ATO’S DATA MATCHING RAMPS UP AND FOCUSES ON SME REPORTING

TAXATION The environment is hardening against those who seek to hide or extract income tax-free. Here’s how to ensure your clients are correctly accounting for their income and use of assets. The Australian Taxation Office (ATO) is increasing its scrutiny of small businesses’ tax affairs through the tax gap random audit
Read More

COVID-19 economic recovery Bill receives assent

COVID-19 economic recovery Bill receives assent The COVID-19 economic recovery Bill containing several 2020-21 Federal Budget measures has now received assent as Act No 92 of 2020. The measures in the Treasury Laws Amendment (A Tax Plan For The COVID-19 Economic Recovery) Bill 2020 include: Personal income tax cuts: increase to low
Read More

JobKeeper Payment Scheme Extension

JobKeeper Payment Scheme Extension The purpose of this Fact Sheet is to enable you to make a quick assessment of your eligibility for the Government’s JobKeeper Payment Scheme extension beyond the original end date of 27 September 2020.  It is not a comprehensive guide as the enabling legislation and rules
Read More

2020 TAX TIPS FOR INVESTORS

Many Australians invest in property, financial markets and other assets, both here and overseas. In 2016-17, almost 4 million individuals received dividend income of $23.4 billion while 2.1 million reported rental income totalling $44 billion. $20 billion in capital gains were reported by almost 700,000 individuals while more than 900,000
Read More

2020 TAX TIPS FOR SMALL BUSINESS

Tax time is an opportunity to obtain essential business advice from your professional advisor, especially if you’ve been disrupted by the impacts of COVID-19. Small businesses need to ensure their bookkeeping and lodgments are correct and up to date. You should obtain professional tax advice, especially in areas where more
Read More

2020 TAX TIPS FOR EMPLOYEES

Do you know which tax deductions and offsets you might be eligible this financial year? The following tips may help you to legitimately reduce your tax liability in your 2019-20 return. With so much information being pre-filled into your tax return this year, it’s best to wait until all the
Read More

JobKeeper Payment Scheme Fact Sheet – Are you Eligible?

JobKeeper Payment Scheme The purpose of this Fact Sheet is to enable you to make a quick assessment of your eligibility for the Government’s JobKeeper Payment Scheme.  It is not a comprehensive guide as the rules are quite complex.  If, after you have examined the information in this Fact Sheet
Read More

Business Support Fund Assistance for Victorian small businesses impacted by coronavirus (COVID-19).

The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work. The Fund is part of the Victorian Government’s $1.7 billion Economic Survival Package. Eligibility criteria and application guidelines are outlined below. Please read them before
Read More
May 2024
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031