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Tax

Offsetting credits and refunds from debts on hold

Explore the ATO’s new approach to managing debts on hold for small businesses, understand offsetting, and discover solutions for effective debt management.

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 Offsetting credits and refunds from debts on hold
( Posted in: Tax )

$20k deduction for ‘electrifying’ your business

Discover how small and medium businesses can maximise a 20% tax deduction on energy-efficient upgrades and electrification. This limited-time opportunity is set to expire by June 30, 2024. Find out what qualifies.

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 $20k deduction for ‘electrifying’ your business
( Posted in: Tax )

Self-education: What can you claim?

What can be claimed for self education? We break down the dos and don’ts of claiming education expenses. Make sure your claims align with your work for the best tax benefits.

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 Self-education: What can you claim?
( Posted in: Tax )

The ‘Airbnb’ Tax

Short stay, big tax: What Airbnb hosts need to know. Property investors using Airbnb-style rentals are about to face a new tax in Victoria, Australia. Learn how this tax will affect your short-term rental income and what similar measures might be on the horizon.

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 The ‘Airbnb’ Tax
( Posted in: Tax )

30% tax on super earnings above $3m

Proposed Superannuation Tax Changes: Draft legislation increases tax rate on above $3m super balances. Those impacted should assess their personal impact. Stay tuned for updates.

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30% tax on super earnings above $3m
( Posted in: Tax )

Cereal crime: Are you charging GST correctly on food and breakfast products?

Demystifying GST on Breakfast Products: Are You Charging Correctly? Explore the nuances of GST for food items, including those with seeds or nuts. Stay compliant and avoid surprises. Don’t miss it!

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 Cereal crime: Are you charging GST correctly on food and breakfast products?
( Posted in: Tax )

The case of the taxpayer who was paid too late

Timing can be taxing: A recent case illustrates how the timing of employment income can significantly impact tax liability.

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The case of the taxpayer who was paid too late
( Posted in: Tax )

Your guide for claiming business expenses

Unlock Tax Deductions with Expert Tips! Meet Rubi, the savvy IT consultant who knows the 3 golden rules for claiming expenses while traveling for business. Learn how she uses the myDeductions tool and smart record-keeping to maximise her deductions.

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Your guide for claiming business expenses
( Posted in: Tax )