by James Carey | Aug 29, 2023 | Individual Tax, Self-Managed Superannuation, Tax
Division 293 Tax: What You Need to Know Here’s a summary of what you need to know about Division 293 Tax: What is Division 293 Tax? How will you know if you owe the tax? How is Division 293 Tax calculated? Special cases & considerations Releasing...
by James Carey | Jul 22, 2019 | Individual Tax
The time has come to start preparing for your 2019 tax return. There are a couple of key areas of interest and changes that you should be aware of. The ATO has told us that they have two key areas of focus this financial year: Work related deductions, and Rental...
by James Carey | Jun 19, 2018 | Business Services & Advice, Individual Tax
The end of financial year is almost here! Now is the time to review what strategies you can use to minimise your tax. 1. Maximise Deductible Super Contributions Individuals can now make tax-deductible personal contributions to superannuation to reduce their taxable...
by James Carey | Feb 23, 2018 | Individual Tax
Last year the ATO went before the Administrative Appeals Tribunal to battle against a truck driver whose large work-related travel claims grabbed their attention. The case revealed that the taxpayer had failed to declare travel allowance received from his employer as...
by James Carey | Feb 15, 2018 | Business Services & Advice, Individual Tax
The ATO has plans to relax the rules for the private use of work utes in the lead up to their blitz on Fringe Benefits Tax non-compliance. Existing rules allow utes to only be used for ‘minor, infrequent and irregular’ journeys without incurring Fringe...
by James Carey | Dec 11, 2017 | Individual Tax, Property & Investment
Last month the Senate passed the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017, with which came changes to depreciation for existing residential properties purchased after 9 May 2017. The purpose of the amendment is to stop owners and investors claiming...
