BLOG
Tax Deductions for Office Workers
All employees are able to claim deductions for work related expenses. However, the reality for many office workers is that either there aren’t any expenses related to their work or their employer covers the cost of these expense. The key elements for claiming work...
Explainer: What is the Medicare Levy, Medicare Levy Surcharge and the Private Health Insurance Rebate
Medicare Levy Did you know that most taxpayers pay an additional 2% levy on their tax return? This is the Medicare Levy. The Medicare Levy was introduced to help cover to the costs of the public health services provided by Medicare. As all Australian citizens are able...
Individual Deductions – Car Expenses
Individual taxpayers using their own car (including a car that is leased or hired) to perform work-related duties, as an “employee”, may be able to claim a deduction in their annual income tax return for Car Expenses. In this blog, we take a closer look at the rules...
Instant Asset Write-offs, General Small Business Pool and Temporary Full Expensing
Instant Asset Write-offs With the 30 June 2021 year-end fast approaching, we thought we would take a closer look at this topic of interest for small business. The “instant asset write-off” is an outright deduction available for the business portion of the cost of a...