Common Tax Mistakes Sole Traders Should Avoid
Sole traders, take note — the ATO is cracking down on common tax reporting and expense mistakes. Make sure you’re getting it right.
Getting Rental Property Repairs Right at Tax Time
Taxpayers who have had work done on their rental property should ensure the expense is categorised correctly to avoid errors when completing their tax return.
Offshore Worker denied $30K in Travel Deductions
Claiming travel expenses? Know what qualifies. A recent case saw a $30K claim denied, with only home office costs approved. Don’t risk a disallowed deduction — get expert advice before you lodge.
Taxpayer Wins Case for Home Office and Car Deductions during COVID
A taxpayer successfully claimed home office and car expenses due to COVID-19 work changes, with the ART ruling in their favour. Learn what this means for similar deductions.
Truck driver entitled to claim meal expenses
A recent decision by the Administrative Review Tribunal backed a truck driver’s claim for meal expenses, even though he didn’t have all the usual proof.
How to manage business day-to-day transactions
The ATO has provided following tips for small business owners to make tax life easier — see if you agree.
Increase to rate for working from home running expenses
Prefer claiming actual Working From Home expenses? You still can – just keep detailed records to back up your claim.
Taxpayer claims for various ‘home business’ expenses rejected
Taxpayer’s $40,000 Deduction Claims Rejected by Tribunal Unsubstantiated and Private Expenses Lead to Full Denial of Tax Deductions In a recent decision, the AAT rejected in full a taxpayer’s claims for “several classes or categories of deductions.” For the relevant period of 1 July 2021 to 30 June 2022, the taxpayer was (according to his […]
AAT rejects taxpayer’s claims for work-related expenses
Work-Related Deductions Denied AAT Rejects Taxpayer’s Expense Claims Lack of evidence and use of company vehicles led the AAT to disallow nearly $10,000 in work-related deductions for a traffic controller. In a recent decision, a taxpayer’s claims for various work-related expenses were rejected by the AAT. The taxpayer was employed as a traffic controller in […]
Deductions for financial advice fees
Understanding Tax Deductions for Financial Advice Fees When individuals can claim deductions on financial advice fees linked to income generation and tax management. The ATO has provided guidance about when an individual not carrying on an investment business may be entitled to a deduction for fees paid for financial advice. An individual is entitled to […]
