4 Costly Tax Return Errors You Must Avoid
Will you find yourself in the ATO spotlight this year? Avoid these costly tax return errors and reduce your chances of appearing on the ATO’s audit radar.
Home office expenses: No proof, no deduction!
It’s becoming more and more common for people to spend at least a small portion of their time working from home. For this reason you may be entitled to claim deductions in your tax return for home office running expenses or home office occupancy expenses. But there is a distinct difference between the two claim…
Avoid a Tax Audit: Keep Track of Your Expenses
The ATO has warned that they will be auditing more taxpayers this year. Avoid a tax audit with this very handy tax-time tool.
Federal Budget 2017: What you need to know
Find out who are the winners and losers of Federal Budget 2017.
Adjusted Taxable Income: What it is and why you might need to know
If you recently have or ever plan to apply for certain tax offsets, concessions or government benefits, the basis for eligibility can be determined based on your “adjusted taxable income” (ATI).
Get your ‘Personal Service Income’ affairs in order for 2016
It is not uncommon for professional people who provide services to set up a separate entity to run their business, be it a trust, partnership or incorporated company.
Rental Properties: ATO focus on ‘initial repairs’
The ATO is focusing on claims that investment property owners make for repairs to residences that it deems to in fact be ‘improvements’.