Can I Claim My Home Telephone? Yes, you can....with remote work and home-based businesses, your home telephone can be an essential tool for earning income. But can you claim these expenses on your tax return? Yes, you can, provided you follow the Australian Taxation Office (ATO) guidelines and accurately determine the work-related portion of your telephone usage. Understanding the Basics
Understanding Negative Gearing: Pros & Cons Negative gearing is a popular yet often misunderstood tax strategy in Australia. It involves borrowing money to invest in an income-producing asset, usually real estate. When the income generated by the investment is less than the expenses incurred, including interest on the loan, the investor can claim a tax deduction on the loss. This article wi
Rental Property Deductions | Online tax These are your main Rental Property Deductions for 2024 When it comes to managing rental properties within the Australian Taxation System, there are several allowable deductions that property owners can claim. Maximising the benefits of your rental tax deductions by ensuring you capture all you can claim. And don't forget to download the ultimate re
Rates on Rentals | Online Tax Can I deduct my Rates expenses on my rental property? Yes you can claim Council and Water Rates on your rental property. Council and water rates are recurring expenses that property owners in Australia need to pay. These expenses are considered allowable deductions for rental properties under the Australian Taxation System. Council rates are levied each yea
Rental Insurance Deductions | Online tax Claiming Insurance as a Tax Deduction for Rental Properties Insurance related to rental properties is considered a deductible expense. This includes building, contents, public liability, and loss of rent insurance. These costs can be claimed in the income year they are incurred. There are generally three types of insurance for rental properti
Understanding the John Holland's Case and Its Implications for FIFO Workers The John Holland's case, formally known asJohn Holland Group Pty Ltd v FCT [2015] FCAFC 82, is a landmark decision that has significant implications for FIFO (Fly-In Fly-Out) workers and the tax deductibility of their travel expenses. Let’s look into the details of this case, what can be learned from it, and how F
Aged Care Workers: Tax Deductions Guide Aged care workers play a vital role in our community, providing essential support to those who need it most. However, when it comes to tax time, it can be challenging to navigate the maze of deductions available. Here, we'll break down the key tax deductions aged care workers can claim, identify common traps, and provide practical examples to help you max
Can an Employee Claim Rent as Part of the Actual Cost Method if They Work from Home Full Time? Working from home has become more common, and many employees are exploring ways to claim tax deductions for their home office expenses. One question that often arises is whether employees can claim rent as part of the actual cost method. Let's break it down in simple terms and provide some examples to
Support Workers: Your Ultimate Tax Deductions Guide Support workers are the backbone of our community, providing essential services to those in need. Navigating the tax landscape can be daunting, but fear not! We're here to break down the key tax deductions you can claim, highlight common traps, and provide practical examples to help you maximise your refund. Key Tax Deductions for Support W
Comparing WFH and Home Office ExpensesComparing Work From Home (WFH) and Home Office Expenses When it comes to claiming expenses for working from home, there are two primary methods:Work From Home (WFH) ExpensesandHome Office Expenses. Each method has distinct criteria, allowable deductions, and scenarios where they apply. Let's compare these two methods and provide scenarios for each to clarif