Authoritative and technically accurate information and guidance on all areas of tax

Substantiation for mobile, home phone and internet costs

The ATO has issued guidance on making claims for mobile phone use as well as home phone and internet expenses. Substantiation for mobile, home phone and internet costs It says that if a client uses any of these for work purposes, they may be able to claim a deduction if there are records to support

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Save tax (and health) with a salary-sacrificed e-bike

Entering into a remuneration package to secure a vehicle through a salary sacrifice arrangement is a popular option offered to employees (see more on novated leases here). However the ATO has issued a ruling on another particular set of wheels that opens up both a tax and health incentive. Clients may be in a position

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Novated leases and the deductibility of after-tax running costs

Including a car in a salary package is a popular remuneration arrangement, and doing so as part of a salary sacrifice package will often give rise the a “novated lease”.  Costs in operating the vehicle can also be salary sacrificed.  This is typically referred to a fully novated lease. A novated lease arrangement is a

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Potholes exposed in the road to tax deductions

Jay Huang unearths some “ATO high risk” expenses that typically incorrectly claimed. Potholes exposed in the road to tax deductions Travel between home and work is generally considered as private, and accordingly the expense is not deductible. However, in some circumstances, travel expenses are claimable. This has been a hot focus area for the ATO.

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Home office deductions: What substantiation will the ATO accept?

Home office expense claims are subject to the same general substantiation requirements as other deductions – that is, records must be kept for five years. But in practice, full compliance with the substantiation rules may be difficult. It may be simple to keep a receipt for a printer purchased for a home business, but not

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