Working from home and thinking about claiming a deduction on expenses? To be eligible to claim a deduction for working from home expenses, you must:• be working from home to fulfil your employment duties, not just completing minimal tasks• incur additional running...
The technology investment boost and the skills and training boost for small businesses were both legislated on Friday 23 June 2023. These boosts allow eligible businesses to claim a ‘bonus’ tax deduction equal to 20 per cent of qualifying expenditure. Find out more...
In recent years, there have been three ways you can claim deductions for expenses incurred while working from home – The Actual Method: You claim the actual amount of expenses by keeping records and written evidence to determine the work-related proportion of actual...
If you run your professional affairs through a company, trust, or partnership and more than 50% of your income comes from your personal skills or efforts, then you are earning Personal Services Income (PSI). This impacts the types of deductions you can claim, and the...
Thinking of purchasing a motor vehicle? If you are contemplating the purchase of a motor vehicle within the next few months then the timing of this purchase may have more tax consequences than you anticipated. If the following facts apply to you then you should...
Christmas can present a tax headache in the New Year if you’re not aware of the Fringe Benefits Tax (FBT) implications of your Christmas celebrations. FBT is a complex area that has many variables depending on the way your business ‘entertains’...
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