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Posts Tagged ‘deductions’
Corporate Sponsorship – Understanding the Tax Implications
September 30th, 2022As accountants and business advisers, we help clients make the most of their business expenditure from a tax point of view, and a number of clients ask us how corporate sponsorship affects their tax position, both when they’re considering sponsorship for a sporting club (or similar), and when they’re offering sponsorship opportunities for other businesses.read more
Action Items to Navigate a Tough Economy
September 9th, 2022There is a lot going on at the moment that is contributing to increased pressure and stress on household budgets and businesses alike. With rising inflation prompting several interest rate rises and increased cost of living pressures, many Australians are looking for practical, actionable ways to improve their situation. Here we have some action itemsread more
Rental Property Repairs & Maintenance vs. Capital Improvements
July 18th, 2022Rental Property Owners – do you know the difference between property repairs, maintenance and Capital Improvements? If you’re looking to claim deductions on expenses relating to either, it’s important to know the difference. We’re here to help you accurately determine whether work done on your investment property, business premises, plant, machinery or tools falls underread more
Getting Ahead of Your Next Tax Return
August 12th, 2021The 2021-22 Financial Year is already several months old now (if you can believe that), and by now many taxpayers have their ducks in a row to lodge their tax return for 2020-21. But while that’s happening, clever business owners and salary earners are putting down the groundwork to make next years’ an absolute breeze.read more
Working from Home Deductions at Tax Time – The ATO’s Crackdown Hotspot
May 27th, 2021The new financial year is here, and the more organised among us are already planning the deductions we’re looking to claim for our 2020-21 tax return. Given that global circumstances changed the way many people worked throughout this financial year, there will be a noticeable shift in the types of deductions people claim – especiallyread more
Home-Based Businesses – Know your Deductions
November 6th, 2020Now that another financial year has been and gone, it can be tempting to put tax to the back of your mind as you gear up for another busy year. However, if you’re running a business, particularly from home, it is crucial that you keep on top of what you can claim as a deductionread more
Logbooks – Tax Savings vs. Tax Headaches
November 25th, 2019Travelling for work often means tax deductions – great news at tax time, especially if you aren’t keen to line the tax man’s pockets with any more money than absolutely necessary. But what happens when you get it wrong? Intentionally or otherwise, the Australian Taxation Office (ATO) is becoming increasingly vigilant when it comes toread more
Claiming Car-Related Expenses this Tax Season
June 14th, 2019With tax time coming up very soon, many of us will be looking towards our tax returns and working out what we can claim for this financial year. A very common area people claim deductions in is car travel and other vehicle-related expenses. While there are many options available for things to claim, the Australianread more
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