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...
by Val Tse | Apr 1, 2019 | Deduction - Travel, Income Tax, Rental Income
The ATO recently highlighted significant non-compliance with the rules prohibiting taxpayers claiming travel expenses related to residential rental properties. Late last calendar year, the ATO revealed that it had identified 26,000 taxpayers who had incorrectly...
by Val Tse | Apr 1, 2019 | GST, Income Tax
Australians have been taking full advantage of the offerings on the digital marketplace with gusto for years now, but it has only been relatively recently that the rules for goods and services tax (GST) have caught up. With the purchase of digital products such as the...
by Val Tse | Apr 1, 2019 | Business
From 1 July 2019, businesses will only be able to claim deductions for payments that are made to workers (employees or contractors) when the employer has complied with the pay-as-you-go (PAYG) withholding and other tax reporting obligations for that payment. If the...
