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Offsetting Losses Against Taxable Income: Understanding Negative Gearing

Tax

Negative gearing is a concept often discussed in property investment, but it can also apply to other income-producing assets, like shares. It’s a strategy that allows investors to offset investment losses against their taxable income, potentially…

FBT Season Is Upon Us! What You Need To Know To Stay Compliant

Tax

Fringe Benefits Tax (FBT) is a tax that applies to most non-cash benefits provided to employees in addition to their salary or wages. For employers, understanding FBT is essential to stay compliant, avoid penalties, and manage the financial…

Buying A Home? Stay Abreast Of The Tax Obligations That Come With It

Tax

Looking to buy a house for the first time, or to purchase another property? Buying a home is an exciting time, fraught with anticipation, but also with tax obligations and compliance. In some cases, those tax obligations can add up to additional…

Wishful Thinking & Tax Deductions

Tax

If tax deductions were as generous as some people hope, edible underwear, gaming consoles and designer wardrobes would all be “essential work tools.” Unfortunately, the ATO isn’t quite that imaginative – and every year, it knocks…

Tax Compliance To Get On Top Of On Your Return To Work

Tax

After a proper break, getting back into business mode can feel tough. January can feel like one long Monday, making your vacation seem further away by the day. But for businesses, it’s imperative. Between catching up on emails, reconnecting…

Thin Capitalisation & Debt Deduction Creation Rules: A Quick Guide For Private Groups

Tax

If your business claims debt deductions – such as interest on loans – it’s essential to understand whether the thin capitalisation rules or the newer Debt Deduction Creation Rules (DDCR) apply to you. What Are the Thin Capitalisation…

Can You Claim Dental Expenses on Tax? Here’s What to Know

Tax

It’s said that a confident smile can open doors, but it’s not a surefire way to a deduction. Many Australians wonder whether dental expenses can be claimed as tax deductions, particularly if they view dental care as necessary for work…

Festive FBT Concerns – A Guide For Business Owners

Tax

As the year winds down, many businesses are preparing to celebrate with end-of-year parties, staff gifts, and client events. While these celebrations are a great way to recognise your team’s hard work, it’s important to understand the…

Changing Jobs or Juggling Two? Avoid Tax-Time Surprises with the Right Threshold Choice

Tax

When you have more than one job or switch employers mid-year, it’s essential to understand how the tax-free threshold works so you don’t get caught by surprise at tax time. The tax-free threshold means that if you’re an Australian…

Is A Trip With Family Tax Deductible?

Tax

Mixing work and leisure can be appealing – especially if you’re travelling for a conference, meeting, or site visit and bringing your family along. However, when it comes to claiming expenses on your tax return, the Australian Taxation…

ATO Audits: What You Need to Know — And Why Full Disclosure Matters

Tax

No one enjoys the idea of an Australian Taxation Office (ATO) audit, but it’s a reality that both individuals and businesses should be prepared for. The good news is that most audits are triggered for specific reasons — and staying honest…

How Does The ATO’s Data-matching Program Work?

Tax

The ATO uses a tool called data matching to compare information it receives from third-party sources (banks, employers, government agencies, online platforms, etc.) against the information taxpayers report on their tax returns. In simple terms:…