Tag: taxation

Working tradies need to be certain about what can or can’t be claimed on their annual tax return. A lot of the time, what you can claim depends on whether you’re an employee tradie or a small business (that is, operating as a sole trader, partnership, company or trust).

 (more…)

Inheriting a home or a legal interest in one could be the largest windfall gain that many Australians ever experience.

 (more…)

As a taxpayer, if you use your own car for work purposes, you can claim a tax deduction using one of two methods — the cents per kilometre method or the logbook method. If you use someone else’s car for work purposes, you can only claim for direct costs you pay for (such as the fuel used).

 (more…)

This financial year is almost over, but there are still tactics you may be able to employ to make sure you pay the right amount of tax for the 2018-19 year. While the best strategies are adopted in July (that is, as early as possible in a financial year and not at the end), it’s worth remembering proper tax planning is more than just sourcing bigger and better deductions. The best tips involve assessing your current circumstances and planning your associated income and deductions.

 (more…)