Be careful what you claim for when working from home. There are capital gains tax risks.

3 years ago

Nearly all of the income tax focus in the context of “working from home” during COVID-19 has been on claiming “running expenses” – things like electricity, heating and internet/broadband fees.…

Temporary home office expenses shortcut extended again

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4 years ago

The temporary shortcut method for calculating home office expenses has now been extended to 31 December 2020, after it was due to expire at the end of September. Taxpayers have…

Why you need tax audit insurance

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4 years ago

As promised, the ATO have begun their integrity checks on the validity of claims and applications for the various stimulus measures provided in response to the economic fallout of the…

JobKeeper changes coming in September

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4 years ago

The government has announced changes to the JobKeeper scheme. The Treasury’s review found that the subsidy was still “needed” but required a “test to ensure that JobKeeper is well targeted”.…

One tax concession that is often overlooked

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4 years ago

A good reason for setting your business structure up correctly is to ensure that you can become an employee to access some of the tax concessions available. As a sole…

What can I claim against my tax?

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4 years ago

It’s tax time again – what can you claim to reduce your tax? DEDUCTIONS YOU CAN CLAIM According to the Australian Taxation Office (ATO) website, there are 4 things you…

Your 2020 EOFY Reminders & Action Items

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4 years ago

This has probably been the most difficult year ever for business owners due to the impact of COVID-19. And this makes Tax Planning for 2020 and key actions before 30…

Can you claim your Trademark as a Tax Deduction?

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4 years ago

Recently we have set out to protect the intellectual property for our business brands which help our business stand out in the marketplace. Over the 31 years that we have…

Tax Tip – Claiming Borrowing Expenses

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4 years ago

Quite often when you borrow money for business purposes you will incur certain expenses associated with that particular loan. You can claim a deduction for borrowing expenses associated with purchasing…

Short cut method for claiming Home Office Running Costs

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4 years ago

With many of us now running our businesses or having our work-related duties conducted remotely during the lockdown, can we claim home office type expenses on your 2020 income tax…

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Be careful what you claim for when working from home. There are capital gains tax risks.