Can I Claim the Internet as a Tax Deduction? If you use the internet for work purposes, you might be wondering if you can claim it as a tax deduction. The answer is yes, but only if you meet certain conditions and keep proper records. Learn how you can claim the internet as a tax deduction. When can you claim the internet as a tax deduction? You can claim the internet as a tax deduction i
How to Claim Working from Home Expenses in 2023 using the Fixed Rate method. The ATO has updated the way you can claim deductions for working from home expenses. The changes suit the way people work from home nowadays. The ATO explained that you can choose between two methods to claim your expenses: the "actual cost" or the "fixed rate" method. Only the fixed rate method is different for the
Missed deductions | 2023 GotaxHere are the tax deductions that are quite often overlooked Here are some common overlooked tax deductions. Have a read and become more aware, awareness creates tax deductions. Working from home expenses Before you claim your working from home expenses, you need to make sure you qualify for them. You can’t just claim them if you work from home once in a w
How to Boost Your Tax Refund in Australia Everyone loves getting a tax refund, but not everyone knows how to maximise it. If you're an individual taxpayer, you might be wondering what you can do to increase your chances of getting a bigger refund this year. Below, we'll share some tips and tricks on how to boost your tax refund. Understand the tax system The first step to getting a bigger
What is a Notice of Intent to Claim a Tax Deduction for Super? If you make personal super contributions to your super fund, you may be able to claim a tax deduction for them. This means you can reduce your taxable income and pay less tax. But how do you claim a tax deduction for your super contributions? In this blog, we will explain what a notice of intent to claim a tax deduction for super is
A Guide to the Australian Tax System and Rates If you are an Australian resident for tax purposes, you need to pay income tax on your earnings. But how does the Australian tax system work and what are the tax rates for 2023? In this blog, we will give you a brief introduction to the Australian tax system and the 2023 individual income tax rates. We will also explain what the Medicare levy is an
The Tax Scammers are knocking on your door again The warnings are out and the festive season is here for Tax Scammers. Scammers are impersonating the ATO and it all looks very official. The Scam can come by either email or text, and they areusing labelswith a "myGov" highlighting that a refund is on it's way and to click the link. There's only one course of Action if you receive anything
Positive & Negative Geared RentalsIn our previous blog, we discussed the kind of things you would need to report on your etax return and whether your tax return is likely to be positively or negatively geared... but what does that meanand how does it affect your etax return? If your rental property is positively geared, then the amount it is positive by is added to your other income. Ta
So, you’ve buggered up your Income Tax Return and now you need to fix it? If you’ve left something out, made a mistake, or your circumstances have changed after lodging your income tax return then there are ways to correct it. Failure to correct something that is incorrect could see penalties and fines imposed by the Australian Taxation Office (ATO). If you have discovered the er
Unravelling the Truth About Gym Fees and Fitness-Related Expenses Are you wondering if you can claim a tax deduction for your gym fees and other fitness-related expenses? The short answer is, typically, no. There are some very specific exceptions to this rule that generally centre around the concept of strenuous physical activity. We’ll explain more. You can claim a tax deduction if