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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:…

Understanding Negative Gearing in Australia

Tax

Negative gearing is one of those terms that is frequently mentioned in discussions about property investment and taxation in Australia. For some, it’s a smart wealth-building strategy. For others, it’s a source of confusion. Let’s break…

Get Prepared For Your Return’s Lodgment Deadline

Tax

If you haven’t yet lodged your tax return, you’re not alone. With the 31 October deadline fast approaching, now’s the time to get everything in order so you can lodge on time and avoid penalties. A little organisation in these final…

Is Your Vehicle A Work Vehicle? An Explainer Of The Tax Treatment

Tax

One of the most common points of confusion we see among clients is whether their vehicle is treated as a car or as a work vehicle for tax purposes. On the surface, it seems like a small distinction, but the difference can have a big impact…

Professional Services Partnerships & Tax: What You Need To Know

Tax

When professional practitioners exit or retire from a partnership, their tax responsibilities don’t simply end with their departure. It’s important to understand that even after leaving a professional services firm, there are ongoing tax…

Home-Based Businesses And Claiming Deductions

Tax

If you run your business from home, you’re not alone—and you may be entitled to valuable tax deductions. The ATO allows deductions for the portion of your home expenses that relate directly to your business. Let’s break down the…