Category: Tax Deduction

Organising your end-of-financial year documents now means you can get your tax completed earlier and maximise your return. Book in your tax return appointment now and rest easy knowing it’s under control.

Do you use income splitting to reduce tax? The ATO is changing rules around income splitting and is checking taxpayers who may have high-risk agreements. Book a time with us to review existing arrangements prior to new rules starting in July 2021.

To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.

If you worked from home during lockdown and spent money on work related items that were not reimbursed by your business, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed.

More than $29 billion in temporary business and personal income tax cuts, a $33 billion boost for care services and $4 billion more for training programs, are at the core of the government’s budget which aims to create 250,000 jobs by the end of 2022 and drive the unemployment rate below 5%.

Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.