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Did you know that an ETF, or exchange-traded funds, attract a more favourable tax treatment than stocks and mutual funds? They tend to have a lower turnover and pay fewer capital gains. If an ETF is owned for more than 12 months, taxable capital gains can be reduced to 50% for individuals.
Are you a cleaner? Did you know you can claim protective clothing such as steel-capped boots, aprons, gloves, glasses, face shields, hats, hair nets, masks and sun protection as tax deductions.
Do you understand superannuation or are you a bit hazy about the details? Like, if you earn over $450 per for the same employer, you’re entitled to be paid super? Read on to find out all you need to know:.
Whether or not you’re looking to strengthen your skill-set, need to update your knowledge or need to train to keep current, there’s a whole lot of tax deductions that cam be claimed when you need to up-skill.
With inflation hitting the roof, it’s natural to look cut expenses, and that is true when it comes to lodging your tax return. With the average tax return being $2,800, you need to be sure that cutting this expense isn’t costing you more than you think.
Not all expenses are tax deductible, and some tax deductions are complete fables. Here are some common tax questions that we see every day.