by Craig | Apr 1, 2024 | Deductions, SMSF, Superannuation, TBAR, Work From Home
How to claim working from home expenses Taxpayers who have been working from home this financial year, and who consequently incurred work-related expenses, have two ways to calculate their work from home deduction: the actual cost method; orthe fixed rate method....
by Craig | May 11, 2023 | ATO, Deductions, Practice Update
Last chance to claim deductions under temporary full expensing Deductions under ‘temporary full expensing’ are only available in the 2021, 2022 and 2023 income years, and are expected to come to an end on 30 June 2023. Editor: Under temporary full expensing,...
by Craig | Oct 6, 2022 | ATO
Banking business income to a private account The ATO has stated that it has “no concerns” with business owners banking their business takings or other sales in private accounts, but that this may become an issue when this income isn’t reported....
by Craig | Mar 6, 2022 | ATO, Federal Budget,, SMSF, Superannuation
Tax deductibility of COVID-19 test expenses After much speculation, the Government announced that COVID-19 tests, including Polymerase Chain Reaction (‘PCR’) and Rapid Antigen Tests (‘RATs’), will be both: tax-deductible; andexempt from FBT; broadly where they are...
by Craig | Jul 8, 2021 | ATO, Cryptocurrency, Practice Update
Super guarantee contribution due date for June 2021 quarter The due date for employers to make super guarantee contributions for their employees for the June 2021 quarter is 28 July 2021. Note that the super guarantee rate in relation to salary and wages paid on or...
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