As seen in Woopi News September 2024 This question is more commonly asked about holiday rentals or other short-term accommodation but can apply in other circumstances as well. So why is this question important? It has to do with the deductibility of expenses...
As seen in Woopi News May 2024 As we approach the end of financial year, people tend to start thinking about ways to save tax but as I say every year, if you don’t need it, don’t buy it just to save tax. If you spend $100 and claim that item, you are not getting the...
It is important to get advice specific to your circumstances from a qualified professional who will ensure you have considered all the variables. It’s best not to rely on what you see or read on social media, often these people are leaving out important information and referring to foreign tax laws that are not applicable here in Australia.
The ATO has issued a release highlighting rental properties as one of its focus areas for the 2022 tax year. It’s an area that is easy to get wrong and extra care needs to be taken when including a rental property schedule in your tax return.