Enhance Your Tax Refund: Essential Deductions for Government Employees/Public Servant

For government workers, understanding which tax deductions are available can lead to a more substantial tax refund. Here’s a guide on what can be claimed on your online income tax return. Claimable Clothing and Maintenance Costs Uniform expenses are often overlooked but can be claimed: Vehicle Expenses: Navigating Deductible Travel Work-related travel often forms a […]

Maximize Your Tax Refund: Essential Tax Deductions for Apprentices

Apprentices have various opportunities to claim tax deductions, which can significantly boost their tax refunds. Understanding what expenses are eligible for deductions is key to maximizing your returns. Deductible Work Attire and Safety Gear For apprentices, specific clothing and safety items are tax-deductible: However, everyday clothing like plain jeans or shirts isn’t eligible for deductions.[…..]

Maximizing Tax Refunds for Bricklayers: Understanding What You Can Claim

As a bricklayer, there are several expenses you can claim to boost your tax refund. Understanding these can significantly enhance your financial standing come tax time. Vehicle Expenses: Navigating the Roads to Tax Deductions For bricklayers, vehicle expenses often constitute a significant part of work-related deductions. Here’s when you can claim these costs: To claim[…..]

Navigating Work-Related Expenses for Carpenters: A Comprehensive Guide

As a carpenter, understanding and effectively managing work-related expenses is crucial for financial success and compliance. It’s essential to know what you can claim and how to do it correctly. Key Criteria for Claimable Expenses To legitimately claim a deduction, three fundamental criteria must be met: For expenses that blend personal and professional use, only[…..]

PAYG Income Tax Withholding Variation and Investor Benefits

Most investors, in the real estate industry, bank on tax deductions and breaks to be able to make some money. However, this wait can end up causing extreme cash flow issues. As such, finding an alternative is ideal and this is where the PAYG Income Tax Withholding Variation comes in. PAYG Income Tax Withholding Variation[…..]

Do I Need to Declare My Partner’s Income on My Tax Return?

When you are filing your taxes, one of the most important things to consider is whether or not you need to declare your partner’s income. In Australia, there are specific rules and regulations that dictate when you are required to disclose this information. In this blog post, we will discuss these rules in detail and[…..]

Changes to Working from Home Expense Methods 2022-23

On the 3rd of November 2022, the Australian Tax Office announced some changes to the working-from-home expense methods for the 2022-23 financial year. These changes are aimed at providing more certainty to employees who are currently working remotely, as well as making it easier for employers to claim eligible expenses.  The initial draft of the[…..]

Tax Treatment of Capital Gains on various Investments: Crypto Currency, Share Trading, Managed Funds, CFD trading such as- Forex, Crude Oil etc, Sale of Rental Property ( Investment Property)

We get bombarded with questions in relation to capital gains on variousinvestments. It is surprising that although many of these investmentinstruments look similar, but their tax treatment’s may be different. Also, insome cases they may not be subject to capital gains tax but fall under theregime of business income.Due to the complexity in their nature[…..]