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Using the most advanced GPS tracking available you can now track and manage journeys and business mileage with ease. You can either simply tap 'start' and the App will track the journey (even when minimised) and press 'stop' to end the tracking, or set the app up to automatically track all journeys. The App will automatically... more
Owning an investment property can provide great benefits, including additional income and entitlement to tax deductions.
Now is the time for property investors to take advantage of the tax strategies available to them this financial year.
In order to maximise your tax bill in the financial... more
Knowing what you can claim from travel allowances and expenses can be difficult as in some cases, tax deductions from an allowance are to be withheld unless specified otherwise.
The reasonable amount of travel expenses is updated yearly and is based on job type and salary. On the occasion that you are required to travel overnight for work,... more
Many property investors can access a wide range of tax deductions for their rental property and items subject to depreciation.
Property investors may not be aware of the number of items that can be tax-deductible, such as accounting, bookkeeping and tax expenses relating to the property. Here are some tips to help you maximise
The ATO often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations.
Due to enhancements in technology, the ATO has expanded its data matching capabilities which have improved the ability to identify incorrect reporting in tax returns.
The ATO has released a list of... more
When it comes to how the super death benefit is paid out, there are specific tax implications involved which affect the amount a nominated beneficiary will receive.
In a situation where super is paid out after an individual has passed, it is generally split up into two components; taxable and tax-free. The tax-free portion
The Australian Taxation Office (ATO) has announced changes to the way GST is collected at property settlement.
According to the ATO, those purchasing new residential premises or potential residential land who are required to withhold part of the purchase price for payment (to the ATO) must submit a number of online forms. These forms... more