Change to the way taxpayers claim work-related car expense deductions Currently, taxpayers have an option to use one of four methods to determine their work‑related car expense deductions. The government is proposing to reduce the number of methods by removing the ‘12% of original value method’ and the ‘one-third of actual expenses method’. These methods […]
Australia’s weirdest tax deductions
Australia’s weirdest tax deductions Xboxes, dogs and pedicures might sound like strange tax deductions for small businesses, but for the right sort of business they’re perfectly legal. With not long until the end of the tax year, small-business owners are turning their minds to deductions. The introduction of the $20,000 depreciation tax concession in the […]
Substantiation for donations
Substantiation donations Substantiation donations People donating up to $10 for ‘bucket appeals’ and other disaster relief funds this financial year will be able to claim a tax deduction without a receipt. Interested in joining our team? Why not apply today? About Our Traineeships:- Join the Market Leader in 2016 – Accounting Traineeships Looking to study […]
