Taxation Advice & Planning
What To Take To Your Tax Return Appointment
Be well prepared for your tax return appointment Tax is something that we usually prepare for but the question is how well prepared are you? Are your documents ready and do you have easy access to them when needed? Being well prepared for important meetings is always wise, and your tax meeting is especially important. […]
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Is Your Income Tax Free?
Tax-Free Income … It is possible to receive amounts that you don’t need to tell the tax man about, and don’t have to include as income on your tax return. The ATO classifies these into three different categories: Exempt Income – amounts that have been deemed to be tax-free. Most often this includes government allowances […]
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Business Tax Planning Strategies
End of Year Tax Planning Tips The general rule is that you can claim deductions for expenses your business incurs in the process of generating assessable income. Many of these deductions are obvious – rent, materials, supplies and so on — but there are also some less obvious options left available just before the end […]
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Seven Ways A Tax Deduction Will Not Work
ATO have their eyes on unexpected high deductions If you are planning to claim higher than expected deductions during tax time this year then you may expect to come under the watchful eyes of the ATO. Assistant Commissioner Graham Whyte announced the ATO’s ability to check out work-related expense claims has become more sophisticated due […]
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Don’t Let A Tax Debt Put You In A Spin
You don’t want to owe ATO Whether you’re running a business or are just an individual trying to make ends meet, there is nothing worse than finding yourself in a situation where you have a tax debt, which most likely will also be accruing a general interest charge and perhaps even a shortfall interest charge. […]
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When Is Travel To Your Workplace Tax Deductible?
Take advantage of your work related travel costs … Work-related travel is a hot focus area of the ATO because taxpayers can often get their claims wrong . While trips between home and work are generally considered private travel, you can claim deductions in some circumstances, as well as for some travel between two workplaces. […]
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