Fictions VS Facts: Work expense deductions
There can be varied sources for some of the myths about tax deductions —pub-talk, BBQ-banter, hairdresser-homilies, what-your-taxi-driver-just-heard and many others. We sort out fact from [...]
Myths vs Facts: Work expense claims
Not all expenses associated with your employment are deductible. This helpful guide explores the Myths and Facts of some more common work expense deductions. Myth: [...]
Low and middle income tax offset changes now law
Taxpayers with an individual taxable income less than $126,000 will now be entitled to some of the low and middle income tax offset. Understanding the [...]
Why it is important to have an up to date will
No one really likes talking about their death, which makes updating—or even writing—a will an unpleasant experience. Often, people put off thinking about their will [...]
Rental property owners: 10 helpful tips to avoid common tax mistakes
The ATO is reminding rental property owners that each year it sees some fairly common mistakes being made with tax claims, and the outcomes that [...]
Confusion over personal tax changes – what are you really entitled to?
So, what changed? From 1 July 2018 A low and middle income tax offset (LMITO), first introduced in the 2018-19 Federal Budget, provides a tax [...]
Tax treatment of compensation from financial institutions
By 30 June 2019, five major financial institutions paid $119.7 million in compensation for poor financial advice to 6,318 customers. The question is, how are [...]
Weirdest tax deductions revealed
Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian [...]
‘Proof of life’ certificates required for overseas pensioners
One of the stranger pieces of legislation to be introduced into Parliament last month is an attempt to ensure that overseas welfare recipients over the [...]
60,000 tax cheat tip-offs
Tip-offs to the Australian Taxation Office (ATO) have reached an all-time high with close to 60,000 tip-offs received between June and May 2019 – almost [...]