What About Super?

Future earnings for super balances above $3m taxed at 30% from 2025-26  The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%. The concessional tax rate on earnings from superannuation in the accumulation phase will remain at 15% up …

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Tax Tips

·         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. …

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June 30th

With June 30 on its way, most people will be keen to lodge their tax returns as soon as they can.  But the ATO has made one thing clear: don’t lodge your tax return too early.  If you don’t have all the information relating to your income, it’s not the right time to lodge your …

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Clothing and Tax

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 …

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