by Val Tse | May 1, 2019 | Deduction - Donation, Income Tax
As most of us know, donations of $2 or more are deductible, and there is flexibility in the rules around donating to emergency relief bodies in that no receipt is required if giving less than $10 (so called “bucket” donations). To be able to claim a tax deduction for...
by Val Tse | May 1, 2019 | Deduction - Shares and Trust, Income Tax, Investment
The tax rules allow investing taxpayers to claim some deductions related to some of the expenses and costs that are generated when earning interest, receiving dividends or gaining other investment income. Remember, interest from a bank or other financial institution...
by Val Tse | May 1, 2019 | Business, Single Touch Payroll
A major change in the way employers report the tax and super information for their employees to the ATO has been on the way for a while now. The single touch payroll (STP) system started to be rolled out gradually from 1 July 2018 for what the ATO refers to as...
by Val Tse | May 1, 2019 | Deduction- Home Office, Income Tax
If you produce assessable income at home, or some of it, and you incur expenses from using that home as your “office” or “workshop”, the ATO will generally allow that a taxpayer could be in a position to be able to claim some expenses and make some deductions....
by Val Tse | Apr 1, 2019 | Income Tax, Investment, Rental Income
There are times when getting a valuation becomes necessary, especially to estimate the cost of transactions that are not arm’s-length or when no actual cash changes hands. A common example of this is in respect of property, and especially for transactions when a...
