Read the latest news, get tax advice and keep up to date with our timely and informational short reports.
This Pandemic Leave Disaster Payment was not included in your auto-filled information in your ATO tax records or on your income statement from Centrelink but should be declared when you lodge your tax return.
Have you worked from home due to the various lockdowns around the nation? Perhaps you still do and it’s become a part of your normal working week. There are three methods for calculating your tax deductions if you work from home. It’s best to work out which method will maximise your tax return.
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.