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Receiving an inheritance? You will have some tax obligations and extra details you’ll need to include on your tax return. It’s important to understand what these obligations are and what you’ll need to do. Read on for all the inheritance tax details.
Not all perks attract fringe benefits tax, but some do. These benefits will need to be reported when you lodge your tax return. Read on to discover precisely how fringe benefits are reported and what your obligations are as an employee.
If you’ve failed to lodge a tax return, you probably have your reasons. Maybe you were working or traveling overseas. Maybe you were having health issues. Or maybe you were just too busy. The problem is, the ATO always keeps track. You could face fines, penalties, interest charges, prosecution or even jail time. Read on for all the details plus the steps to take if you’ve failed to file a tax return.
Are you an investment property owner looking to maximise your tax deductions and boost your after-tax returns? You could be leaving thousands on the table if you don’t claim everything you’re entitled to.
By properly understanding the taxation rules around professional memberships, you could potentially reduce your taxable income and take advantage of an often overlooked tax deduction available to self-employed individuals and businesses.
If your job requires you to maintain a certain level of physical fitness, you may be able to claim your gym membership fees as a tax deduction.