We Don't Like the 80c Shortcut MethodWe question the actual benefits of claiming the 80 cents per hour to cover all your home expenses during your Corona work from homestay. So, we’ll go through your options to maximise your tax refund potential. OPTION #1 – ATO Coronavirus Shortcut method The shortcut method can only be claimed from 1 March 2020 to 30 June 2020. You mu
Understand Rental Repairs | Online Tax Understand how repairs and maintenance can be claimed as tax deductions. What is a Repair or Maintenance? Repairs or maintenance is basically fixing things that are broken or don't work the way they should. It refers to the expenses incurred to restore or maintain theasset without changing its character. This could include things like fixing defect
Claiming Petrol | 2023 Gotax Tax Deductions for Travel Between Home and Work The general rule is that travel expenses between your home and your regular place of work are considered private expenses and are not deductible. The main reason is that for an expense to be tax deductible it must be iincurred in earning your income. You don't begin to earn income until you get to the front door o
income Tax Rates 2024 | 2024 Gotax Get a handle of the 2024 Income tax rates that effect you The income tax rates for Australian residents for the financial year 2023-24 are as follows: Income thresholds Rate Tax payable on this income $0 – $18,200 0% Nil $18,201 – $45,000 19% 19c for each $1 over $18,200
Tax and Louis Vuitton Bag | 2023 GotaxCan I write off a Louis Vuitton bag? The basic rule for claiming a handbag or briefcase as a tax deduction is that it must be directly connected with producing your income.You can generally claim your handbag or briefcase as a tax deduction if you use it for work related purposes.
Can i claim my Laptop bag | 2023 Gotax provided it is used for work to carry your laptop, phone, stationery and other work supplies, you can claim it!
Can I claim a handbag | 2023 Gotax The answer is generally no, EXCEPT in certain situations. You must need to carry the items for work and the bag or case must be suitable for that purpose. You must work out if you can claim the cost of the item in the income year you buy it or the decline in value over its effective life.
Tax and my Apple Watch | 2023 Gotax Tax Deductions for Apple Watch Expenses In the TaxSystem, the tax deductions available for Apple Watch expenses are quite specific. Apple Watch as a Work Tool Generally, a smart watch like an Apple Watch is considered a private expense and not deductible. However, if you require some of the smart watch’s functions as an essential part of your
Donations deductible | 2023 GotaxUnderstanding Gifts and Donations for Everyday Taxpayers Giving to charitable organisations is a nice thing to do. Italso provides tax benefits for people like you and me. So you don't become unstuck with your donations, we'll look at thekey points from the Australian Taxation Officeguide on gifts and donations. What Qualifies as a Gift or Donation? Gifts
Nurses Tax Deductions | 2023 Gotax Tax Deductions for Nurses in Australia In the Australian Taxation System, nurses and midwives can claim a variety of work-related expenses as tax deductions. Work-Related Expenses These include the cost of uniforms, non-slip nursing shoes, and laundry or dry cleaning of uniforms. If you’re required to travel for work, such as attending seminar