‘Ace in the Hole’

‘Ace in the Hole’

by | May 10, 2023 | Uncategorized

Budget 2023 -24 A Guide The ‘ace in the hole’ of the 2023-24 FederalBudget was the $4.2bn surplus; the first in 15years. The surplus was driven by a surge in thecorporate and individual tax take. Highcommodity prices, inflation, and highemployment have all pushed up...
What’s the Deal with Working from Home?

What’s the Deal with Working from Home?

by | May 5, 2023 | Uncategorized

The Australian Taxation Office (ATO) has updated its approach to how you claim expenses for working from home. The ATO has ‘refreshed’ the way you can claim deductions for the costs you incur when you work from home. From 1 July 2022 onwards, you can choose either to...
Your Knowledge May 2023

Your Knowledge May 2023

by | May 4, 2023 | Uncategorized

INSIDE $20k Small Business Energy Incentive. ‘OnlyFans’ Tax Risk Warning. How content creators are taxed. What deductions can I claim?. When is a side hustle a business?. ATO Rental Property Blitz. Claiming interest and redrawing on the loan. Borrowing costs. Repairs...
ATO focus on rental properties

ATO focus on rental properties

by | Nov 16, 2022 | Uncategorized

Rental property owners are now one of the ATO’s top targets after it found nine out of ten tax returns reporting rental income and deductions contained at least one error.i The tax office estimates it’s missing out on around $1.5 billion due to over-claiming of rental...