Tax changes for the new year ahead: Claiming personal super contributions from 1 July 2017 – removal of the 10% test From 1 July 2017 – Government has removed the requirement for individuals to satisfy the 10% test in order to be eligible to claim a deduction for a personal contribution. Claiming travel expenses has… Read More
We have some interesting tax tips: Small Business $20,000 immediate write-off Small businesses $20,000 immediate write-off has been extended to 30 June 2018 for businesses with an aggregate annual turnover less than $10 million. (in the 2017 year the $2 million of 2016 year has increased to $10 million) So small businesses can immediately deduct… Read More
Given it is only a few weeks until Christmas, a time when spending is characteristically high, we thought it was worth touching on the benefits of refinancing. We are currently seeing the release of some very competitively priced home and investment loan products, applying to both variable interest loans as well as fixed interest loans.… Read More
As a general rule is if an item of expenditure is directly related to your work and is not private it might be deductible. For example pagers, flashlights, batteries, goggles, helmets, union fees, subscriptions and journals are all deductible. Regardless of the requirement to be cleanly shaven for breathing apparatus, razors are generally not deductible… Read More
Did you know that as well as being able to claim the fees paid to your accountant, you can claim for parking and travelling to see your accountant? Costs incurred in attending seminars, conferences and workshops are tax deductible as long as it relates to your work. More specific training such as First Aid courses,… Read More
Internet, telephone and power may be a tax deductible expense if you do some work from home. You can also depreciate office equipment like computers, printers and electronic equipment. If you are required to use your car for work related travel such as travel between jobs, between two stations, or to travel to courses you… Read More