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Working from Home – Claim 80c per hour
Fringe Benefits Tax – What every employer needs to know
Complimentary Tax Return REVIEW!
· Working From Home & Tax – With working from home becoming more common, it allows taxpayers the chance to claim a deduction for their home office expenses. Taxpayers can claim a deduction for additional running expenses incurred when working from home at a fixed rate of 52 cents for each hour worked from home.
There is always some confusion about what constitutes a deduction for work clothing. You can claim a deduction for the costs you incur to buy, hire, or repair clothing (and footwear) only if it falls within one of the following categories: Occupation-Specific Clothing – must distinctly identify you with your occupation (chef’s chequered pants for
If you receive income from an investment property you own then you are able to claim expenses associated with earning that income. Rental income is relatively straightforward but expenses related to owning and operating the rental property can be more complicated. There is a long list of possible expenses that can be claimed against
The tax-free threshold is the amount that the Government has declared to be tax free for each resident taxpayer. Generally everyone will claim the tax-free threshold, but if you have multiple employers you usually only claim the tax-free threshold from one. Claiming the tax-free threshold reduces the amount of tax withheld from your income and
Many business owners are still using manual methods such as cashbooks/excel spreadsheets to record their income and expenditure. In some cases this would be enough, but as the business grows, moving to accounting software is well worth the investment. Reliable accounting software can help to reduce the burden of financial reporting tasks and allow you