by Peter McCarthy | Nov 5, 2016 | Taxation
With the Spring Racing Carnival in full swing, it is the perfect time to look at how gambling is treated in Australia. In many countries, the good fortune of winning a hefty windfall from a lucky wager must come with a bittersweet tinge, as more often than not the...
by Peter McCarthy | Aug 23, 2016 | Taxation
If you are a low-income earner with taxable income under the tax-free threshold, you may still need to lodge a tax return. Common reasons for this include, if you: • are entitled to the private health insurance rebate but did not claim your correct entitlement as a...
by Peter McCarthy | Jul 30, 2016 | Accounting, Taxation
Many aren’t aware that they can claim home office expenses. Whether you are self-employed, a business owner or an employee – do you perform some of your work from home? If you do, here is a quick summary of the tax rules, and what home office expenses are...
by PTAM | Apr 6, 2016 | Accounting, Taxation
It’s not mandatory for a business to have an Australian business number (ABN), but there are a few good reasons why you should. Foremost among them will be that without one, your business will probably feel a whole lot poorer than it should. Other businesses...
by PTAM | Mar 29, 2016 | Accounting, Taxation
With tax time on the horizon, there may not be a better time to hit the shops for a new handbag. In recent weeks The Australian Tax Office has confirmed that handbags used for work are tax-deductible in certain situations, but as is the case for any item that may have...
by PTAM | Mar 14, 2016 | Accounting, Capital Gains Tax, Taxation
It is generally accepted that an exemption to capital gains tax applies to the family home, or “main residence”, and the main residence exemption usually applies for only one home at any given time. But there is a rule in the tax law that allows for a taxpayer to have...
