Archive for July 2016
Tips To Spot A Scam … And What To Do
The ATO has recently warned that it is continuing to see instances of scam emails, SMS messages or telephone calls where criminals try to steal money or information from taxpayers. These can be very convincing and many individuals fall victim to these each year. It is important that you know common characteristics of a scam…
Read MoreWork Deductions: What’s On The Taxman’s Radar?
The ATO says that this year it will pay extra attention to people whose deduction claims are higher than expected, in particular those claiming car expenses. The expenses the ATO says it will be scrutinising can include claims by those transporting bulky tools, and deductions for travel, internet and mobile phone as well as claims…
Read MoreWhat To Bring To Your Tax Return Appointment
If you’re coming in soon to discuss your tax return for yourself or your business, come prepared with some records or access to them to help us with the preparation. Being prepared is not only wise, but saves a lot of time and effort for both yourself and for us. If you are a new…
Read MoreReal Estate: Buyers Turned into Tax Collectors
New withholding rules on the sale of property by foreign residents have been introduced. This essentially turns property buyers into potential tax collectors. The government says this change of rules has been necessary as foreign investment in Australia, including in residential real estate, has increased, and is continuing to increase, at an unprecedented rate. The…
Read MoreNovated Leases Explained
Wrapping a car into a salary package is a popular choice. Doing so by salary sacrifice often raises the topic of novated leases. Is it worth it? WHAT IS A NOVATED LEASE? Simply put, a novated lease is a way for an employee to buy a new or used car and have their employer assist…
Read MoreMaximise your claim: Overlooked property deductions for investors
Many investment property owners may be missing out on valuable property depreciation entitlements, simply by not being up-to-speed on what is and is not depreciable. Generally speaking it seems that many property investors may not be claiming their full tax entitlements, most likely because the range of items that qualify can be unexpectedly diverse. Examples…
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