tax time

A quick guide to tradie tax time deductions

For tradies, doing business comes with daily costs. A quick guide to tradie tax time deductions Here are some tradie tax time deductions and expense claims you can make this year. Don’t pay any more tax than you have to this financial year. Your tools, uniform, equipment and vehicle all incur deductible costs.   For

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Deadline for self-preparers looms large

If you or someone you know prepares their own tax return, it is timely to warn them that time is quickly running out. Tax returns must be lodged before 31 October for the taxpayer to avoid a late lodgement penalty issued by the ATO. Deadline for self-preparers looms large The penalty is currently set at

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Claims for electronic devices, phones

That technology has changed many aspects of our daily lives is a widely accepted fact of life, and no doubt more is just around the corner. Claims for electronic devices, phones The proliferation of electronic devices of all kinds has also pervaded our work and home environments to such an extent that the line dividing

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ATO shares it’s most frequent small business deduction queries

With the 2017 tax time continuing apace past its 12th week, the ATO has had an opportunity to identify some more-than-anecdotal trends that have emerged through its various channels of taxpayer engagement. Questions from small business taxpayers make up a significant proportion of the enquiries the ATO fields in its day-to-day business, and it has

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The ATO’s occupation-specific tax deduction guides

To save practitioners time explaining to clients what they can or can’t include as deductions on their tax returns, the ATO has developed a suite of occupation-specific guides. It says these have been designed to help your clients understand what they can think about including, or what is completely off the table, as work-related expenses.

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