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Posts Tagged ‘taxation’
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
Refresher: The Main Residence CGT Exemption
March 19th, 2021When it comes to an important moment in your life like selling your family home, the last thing you want is to be slugged with an unnecessary tax liability. Capital Gains Tax (CGT) is something that we’ve covered at length in a few previous articles (see here and here); but today we’ll dig a littleread 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
Running a small business – what’s deductible?
February 14th, 2019When you’re running a small business, you want to make sure you’re making your money work as hard as you do. This often extends to legally minimising your tax where you can, and there are plenty of ways to do so – even from day one. Here are a few you can look for: Start-upread more
Working from Home – What can you Deduct?
October 19th, 2018As the workforce increasingly favours flexibility and good work-life balance, companies throughout Australia (and indeed the world) offer their employees the chance to work from home; while others set up their own business to take greater control over their working lives. With this flexibility in working from home, there are certain things that you canread more
Struggling to meet the October 31 tax return deadline? Here’s what you can do…
September 28th, 2018It is pretty hard to believe that we are already in the final quarter of 2018! For individuals, the deadline for lodging your tax return is 31 October (if you are planning on doing so yourself) - only a few short weeks away! If you think you may be cutting it fine to get itread more
Personal income tax rates for Australian residents (2018-2019)
August 2nd, 2018There were some changes to personal income tax rates and thresholds in the 2018-2019 Federal Budget compared to 2017-2018. Notably, the old $87,000 tax threshold has been increased to $90,000; while the amount of tax on incomes for the highest two brackets have changed slightly. See the personal income tax rate tables below. [table id=4read more
Interdependent Relationships in Estate Planning
July 31st, 2018Protecting family estates from hefty tax bills can be challenging, however there are little known concessions that can save beneficiaries tens of thousands of dollars in liability. Many people make the mistake of not fully accounting for the relationship between superannuation and estate planning when drafting their wills. Estates with large payments from a superannuationread more
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