tax time 2019

Tradies: Some tax claims pivot on how you operate

Working tradies need to be certain about what can or can’t be claimed on their annual tax return. A lot of the time, what you can claim depends on whether you’re an employee tradie or a small business (that is, operating as a sole trader, partnership, company or trust). For example, the above distinction can

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Do you have a legal expense, and is it deductible?

When a legal expense is incurred in relation to the operation of a business to produce assessable income, it is generally allowable as a deduction. Exceptions are when the legal fee is capital, domestic or private in nature, if it is specifically excluded by another section of income tax legislation, or is incurred in earning

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EOFY last-minute tax planning tactics for individuals

This financial year is almost over, but there are still tactics you may be able to employ to make sure you pay the right amount of tax for the 2018-19 year. While the best strategies are adopted in July (that is, as early as possible in a financial year and not at the end), it’s

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Tailored tax technical assistance

  The ATO provides tailored technical assistance in some circumstances, which can be provided either orally or in writing, depending on the nature and complexity of each query. A taxpayer or their adviser may need to seek tailored technical assistance if: they’re not able to find the ATO view of how a tax law applies

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