Restoring damaged tax records after a natural disaster
January 22, 2020 1:52 pm Leave your thoughtsIn the event that your records have been damaged or destroyed in a natural disaster, such as bushfires, there are... Read More
Categories for tax
What are franking credits?
January 15, 2020 11:26 am Leave your thoughtsFranking credits are a kind of tax credit that allows Australian companies to pass on the tax paid at a... Read More
Tax implications of buying a holiday home
January 9, 2020 10:31 am Leave your thoughtsBuying a holiday house can seem appealing, whether it’s to rent out for income, for your own holidays or both.... Read More
Removal of the main residence exemption for non-residents
January 9, 2020 10:31 am Leave your thoughtsThe government has changed capital gains tax (CGT) rules for foreign residents under the Treasury Laws Amendment (Reducing Pressure on... Read More
Tax on gifts and donations
December 11, 2019 11:03 am Leave your thoughtsIndividuals can claim tax deductions when giving gifts or donations to organisations that have the status of deductible gift recipients... Read More
Paying tax on term deposits
December 4, 2019 10:44 am Leave your thoughtsThe interest you earn from term deposits is subject to tax, just like your regular income. You have to declare... Read More
Making NRAS claims
November 27, 2019 9:44 am Leave your thoughtsThe national rental affordability scheme (NRAS) started on 1 July 2008, encouraging large-scale investment in affordable housing. It offers tax... Read More
Introducing ASFP
November 25, 2019 7:44 am Leave your thoughtsPlans are underway to carry out a system change during the December closure of the ATO, to introduce Activity statement... Read More
Time limit on GST refunds
November 13, 2019 9:41 am Leave your thoughtsSmall businesses entitled to refunds of GST may not be aware of the four-year time limit on claiming those refunds.... Read More
Limiting tax deductions for holding vacant land
November 7, 2019 8:21 am Leave your thoughtsOn the 28 October 2019, The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No.1) Bill 2019 received royal... Read More