This information will assist if you are a small business owner claiming a deduction for expenses you incur when travelling for your business – whether you use a registered tax agent or lodge your own tax return.  Travelling for business? What you can claim will now be explained! Key points – You must keep your…
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As you gather your records this tax time, think about what has or hasn’t worked well over the year. Make a new (financial) year resolution for your record keeping practices that’s easy to stick to! Here’s to a prosperous new (financial) year, new you! Top tips for record keeping success: Maintain separate business and personal…
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Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation Office’s 2018-19 list of most unusual claims. They’re bad for the economy, for the accounting industry and for our clients, so why are outrageous tax claims still so widespread?…
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The ATO is reminding rental property owners that each year it sees some fairly common mistakes being made with tax claims, and the outcomes that result, in regard to investment properties. It has therefore released a list of the top 10 stumbles, and how best to avoid them. Note rental property owners: top 10 tips…
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What’s a comfortable retirement income in Australia, and how much super do Australians need to achieve it? It depends on who you ask. As we approach retirement, many Australians start questioning whether their superannuation balance is adequate. Perhaps we need to save some more? So retirement in Australia – how much super do we need?…
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