What is Depreciation on your Tax Return?If you purchase new assets forwork-related purposes and thecost is over $300 (if you're not in business), you can't claim the full cost of the new assets outright on your tax return. We use the method "Depreciation" (pronounces DEE-PREE-SEE-AY-SHON)to spread the tax deduction over a few years Depreciation (or decline in value) is the way we claim the
Claiming Internet on Your Tax ReturnIf you have to use your internet to earn your income and your boss hasn't reimbursed you for the cost, you may be able to make a claim for part of the cost of your internet on your tax return. How good is that?! You can’t just claim the whole bill though (unless you only use it for work). The claim must be equal to the amount you use for work purpos
Tax Deductions for Adult WorkersSo, you work in the Adult Industry – REOW! Just like any other occupation, if you need to buy stuff for work, you can claim it as a tax deduction on your etax return. So, let’s take a look at what Adult Industry workers may be able to claim: Car Expenses – if you need to use your car for work you can claim the expenses as a tax deducti
Gotax AlertJobKeeper & JobSeeker Changes From 28 September 2020 to 3 January 2021 The JobKeeper Payment rates will be: $1,200 per fortnight for all eligible employees who, in the four weeks of pay periods before 1 March 2020, were working 20 hours or more a week on average. $750 per fortnight for all other eligible employees. From 4 January 2021 to 28 March 2021 The JobKeeper Pa
In the lead-up, and during Tax Time, you are likely to be exposed to an increase in tax-related scams which many Australian’s are falling victim to. The scams are getting more and more convincing every year, scaring people into giving out sensitive and personal information and/or handing over large sums of money. Fortunately, there are ways that you and your friends/family can avoid f
Get Into Your First Home SoonerThe First Home Super Saver Scheme is going to help you buy your first home sooner. How does it work? You’ll have the option to save your deposit using your super account by creating a second account within your super fund for your home deposit savings. And guess what?! You pay less tax on your savings if you put the money into your super account i
Part Rental/ Air BnB Tax ReturnsWhen you rent out part of your home, (not to friends or relatives) either privately or using a sharing platform like Air BNB, you need to declare all the income and may be able to claim a deduction for expenses relating to it. In order for us to work out what part of the costs belong to renting and which part belongs to your personal use, we need you to s