by Sydney Taxation Services | Small Business, tax deductions, Tax Planning
“Audit warning sounded as ATO clamps down on dodgy claims” says Jotham Lian of Accountants Daily The Tax Office says it will be scrutinizing every tax return lodged this year as it continues its crackdown on illegitimate claims. ATO assistant commissioner...
by Sydney Taxation Services | tax deductions, tax offsets, Tax Planning
The Federal Government’s Personal Income Tax Plan is now officially law. For 2018/2019 (the financial year just gone) the centrepiece of this plan was an increase to the low and middle income tax offset (LMITO) from a maximum $530 to $1,080. Taxpayers with a taxable...
by Sydney Taxation Services | motor vehicle expenses, tax deductions, Tax Planning
I read this article in the accountantsdaily newsletter. It is a timely warning from the tax office to be careful about how much can be claimed as a tax deduction. “While some claims of exactly 5,000km are legitimate, we’ve found many people are unable to show how...
by Sydney Taxation Services | Accounting, Small Business, tax deductions, Tax Planning
If you work from home you can claim deductions for all sorts of expenses! You do need to keep records and receipts – of course. What you can claim depends on whether you are an employee taking up remote jobs and working at home or if you are running your...
by Sydney Taxation Services | Accounting, Bookkeeping, Business Advice, motor vehicle expenses, Small Business
When you can claim and can’t claim for car expenses When you can claim You can claim a deduction for work-related car expenses if you use your own car in the course of performing your job as an employee, for example, to: carry bulky tools or equipment (such as...
