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Tax Deductions & Claims: Life Insurance

Tax

Have you recently purchased life insurance? The type of cover, deductibility of premiums and treatment of claims make life insurance a complex topic for tax. It’s a topic that individuals and businesses alike seek assistance from accountants. The…

CGT Considerations Involved In Renting Out A Holiday Home

Tax

Holiday rentals provide you with a home away from home to spend time with your loved ones and a steady source of income while renting it out. To ensure owning a holiday rental brings you the greatest dividends, keeping valid and accurate records…

How Can A Natural Disaster Event Impact FBT?

Tax

Australians can experience a range of natural disasters, such as floods, bushfires, tropical cyclones, severe storms and even earthquakes. These events can cause devastation to communities and financial hardship for individuals and businesses. While…

Travel, Cars, Home Office – The Tax Deductions For The Marketing Professional

Tax

Doing the numbers might not necessarily be your thing if you work in sales or marketing – especially when it comes to your tax. Tax time might seem like a distressing situation in that case, but that’s when you can come to someone like…

Deductions, Allowances, Tax Returns And More – Here’s What You Might Need To Know As A Retail Worker.

Tax

In spite of the many challenges that have faced many industries across the country during COVID-19’s persistence and ongoing effects, the retail industry through their continued, adapted operations has continued to progress. As a result,…

Here’s Why You May Receive A Tax Bill, Even If You Weren’t Expecting One

Tax

Though you may not be expecting a tax bill, having one turn up in your inbox does not have to be an unexplainable mystery. The Australian Tax Office may send you a tax bill after you have lodged your income tax return for a number of reasons. You…

Property Investors Should Know This About Tax If They’re Planning On Renovating

Tax

As a property investor, you might find yourself implementing repairs and renovation work onto a property to ensure that you are maximising its value on the market. However, though both can be claimed on your tax return, it’s of paramount…

Salary Packaging Gives More Than Benefits – It Can Help You With Your Income Tax

Tax

Did you know that salary packaging could reduce the amount of income tax you may have to pay as an individual? If you agree to salary packaging, you and your employer can “package” your salary into an arrangement of less income received…

Tax Relief For Distilleries, Brewers And The Industry

Tax

With around 600 brewers and 400 distillers across Australia, and up to two-thirds of those numbers operating in rural and regional areas, the alcohol industry has become one of Australia’s fastest-growing sectors. As a part of the 2021-22…

When Does A CGT Concession Or Exemption Apply To Your Small Business?

Tax

Small businesses are facing a set of challenges once again that can make fulfilling tax obligations seem like a daunting task. However, as a small business, capital gains tax concessions on assets used to conduct your business may be of interest…

Charitable Donations, Gifts & The Taxman – What You Need To Know

Tax

Did you know that making a charitable donation isn’t just contributing towards a better outcome, it could also be tax-deductible? Every $2 donated under the right set of circumstances counts against your taxable income, and though many…

The Past Year May Have Pushed You Over The Tax-Free Threshold – Here’s Why

Tax

Did you know that, regardless of how many jobs you worked over the past year, once your income reaches $18,200 it has crossed the tax-free threshold? The tax-free threshold is the maximum amount of income that you can earn in a year without…