What is Negative Gearing and How Does It Work?

What is negative gearing? Negative gearing. It’s a term you’ve probably heard before, but what exactly is it? Does it only relate to investment properties or can it be achieved with other investment types? More importantly, is it something you can benefit from?   Have you tuned in to our podcast? Episode 7 is a…

Laundry Expenses Hung Out to Dry

ATO crackdown on laundry expense overclaims.   The ATO is airing the ‘dirty laundry’ on work-related clothing and laundry expenses warning that it is closely reviewing claims. “Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. While many of these claims will be…

ATO to Audit Dodgy Rental Property Tax Deductions

The ATO has announced its focus on the scrutiny of 2019 tax returns, particularly those with rental property tax deductions. It’s fair to say that the ATO’s decision to increase audit activity of rental property deductions has come about with justification. A random sample of tax returns, which included rental property tax deductions, revealed that…