Conferences tax deductions | 2023 GotaxConferences and tax deductions If you're required to attend a conference as part of your work obligations, you may be eligible for tax deductions, so this can be good news. However, if you've decided to attend a conference purely for personal reasons or leisure, such as it being located at a vacation spot, the tax authorities may not view this favourably.
Covid deductions |2023 Gotax Covid expenses, are they still deductible? You costs associated with Covid are tax deductible in certain cases. The determination is based on your exposure to other persons and an evaluation of risk in those situations. In order to determine “risk” the following broad outline can be used as a guide: you are requiredto have physical contact or
ABN Contractors | 2023 GotaxUnderstanding the Difference: Employee vs. Contractor for Australian Income Tax It seems to be quite a vexing question in the workplace, “Are you a contactor or an employee”. The answer has implications for the tax deductibility of expenses, the payment of certain benefits for (ABN) employees and the overall accountability of the work and the responsibili
Can I claim my Home Internet costs? You can claim your home internet costs as a tax deduction up to the point that it represents the use you use for your work. To make sure you don’t become unstuck, there are a few rules to abide by. They’re simple enough and it does mean some extra paperwork and yeh we know that sucks. Or you can use the easy way and upload Deduction Grabber to
What are the Common Tax Mistakes that people make? Let's overview some of the most common tax mistakes that people make: Don't listen to your mates. Unless your mate has some tax expertise then get some earplugs and use them. Just because they've claimed something and got a bigger refund doesn't make it right. The Australian Taxation Office has some pretty sophisticated Intel on you and w
Stationery tax expenses | 2023 GotaxCan that pen you bought be tax deductible? Here’s a bit of a heads up for you about stationery expenses and how they fare in the tax landscape. As a reminder, this isn't an ATO ruling, just a friendly nudge in the right direction. And that can include any stationery item, from pens, to paper, to staplers, to calculators. 1. First off, your stationery
Are your Parking and Toll costs Tax Deductible? Here's your quick bite of tax wisdom for the day and it’s all about claiming parking and tolls as a tax deduction. 1. If you're spending money on tolls and parking fees while traipsing around for work, these costs could be deductible. But be wary, the taxman isn’t interest in the travel from your home to your work or visa versa, tho
Can You Claim Your Forklift Licence on Your Tax Return? Let's Find Out! Today, we're diving into a question that's been popping up quite a bit lately: "Can I claim the cost of getting a forklift licence and its yearly renewal on my tax return?" The Australian Taxation Office (ATO) allows tax deductions for work-related expenses, including education, training, and seminars, as well as members
Car log books | 2023 GotaxWhen Do You Need a Motor Vehicle Log Book for Your Contracting Business? Claiming your vehicles as a tax deduction is pretty easy for contractors, as long as you are diligent. And that diligence involves keeping a log book for applicable vehicles. What is a Motor Vehicle Log Book? The log book is a document that records the details of each trip you make in your
Medicare Levy | GotaxThe Medicare Levy explained in great detail, Well not quite. Medicare, what’s that? and why do we have to pay the Medicare levy and how it is calculated: The Medicare levy is a 2% tax on your taxable income that helps fund some of the costs of Australia’s public health system, also known as Medicare. It’s like a tip you pay to the government for keeping