How to Claim Rental Property Tax Deductions Owning a rental property can be brilliant for your bank account — if you know how to work the tax system. Get it right and you’ll pocket thousands in deductions. Get it wrong and you’ll cop ATO delays, audits, or worse, leave money on the table. This is the biggest, boldest guide to rental property tax deductions in Australia, by
Can I Move into My Rental Property to Avoid Capital Gains Tax in Australia? Are you considering moving into your rental property to dodge the dreaded capital gains tax (CGT)? While it might seem like a smart move, there are important rules and traps to be aware of. Let's dive into the specifics and make this Gotax topic as entertaining and informative as possible! The Basics of Capit
Expenses prior to Renting | Online TaxExperts Rental expenses prior to your first tenant Not all expenses related to rental properties are tax-deductible. A common mistake many fall into is spending money ondoing up a property,to make it rental ready, and expecting to get a tax deduction for the money spent. These are considered capital expenses and generally, you can’t claim a d
Centrelink Benefits – What You Need to Declare What Are Centrelink Benefits? Centrelink benefits are government payments to help with your cost of living. These include: Age Pension JobSeeker Youth Allowance Parenting Payment Disability Support Pension Austudy/ABSTUDY Carer Payment and Allowance Family Tax Benefit
Do I Need to Lodge a Tax Return in Australia? Do I really need to do an Income Tax return? Some people think they’re too broke, too young, or too clever to bother. Spoiler alert: the ATO doesn’t see it that way. Whether you’re pulling in six figures, slogging through casual shifts, or just scraping by, the rules still matter. So let’s break it down — who must lo
When Can I Lodge My Tax Return 2025? Tax time is like clockwork — but the ATO’s clock doesn’t always match yours. If you’re keen to get your refund back in your pocket (instead of sitting in Canberra’s bank account), you need to know the real dates that matter for 2025. Here’s your no-nonsense guide to when you can start, when you need to finish, and how t
Freelancer Business Tax Guide 2025: Complete Business Schedule Published: August 2025 Freelancing means freedom… and tax paperwork. But don’t sweat it—we’re going full throttle into the Business Schedule for the 2025 tax year. This guide covers what to declare, what to claim, what to avoid, and how to keep the ATO off your back. Who Needs to Complete the
Records You Need to Keep: Supporting Your Tax Return Claims Keeping accurate records is essential for supporting the claims you make on your tax return. Good record-keeping ensures you can substantiate your deductions and income if the Tax Office ever asks for proof. Let’s look into the types of records you need to maintain the Gotax way. Why Keep Records? Records are your backu
Sun Protection Expenses: Shielding You from UV and Tax Woes Alright, sun warriors, let’s dive into the bright and sunny world of tax deductions for sun protection expenses. Because who knew staying sun-safe could also be wallet-friendly? What Counts as a Sun Protection Expense? Sunscreen:Your armor against the fiery ball in the sky. Slather it on and save those receipts!
Self-Employed & the Small Business Schedule: The Ultimate Guide If you’re a sole trader, freelancer, tradie, or running your own side hustle, this is your one-stop shop for nailing your tax return—especially the Small Business Schedule (SBS). No jargon, no waffle, just what you need to know. from Gotax. What is the Small Business Schedule (SBS)? The SBS is a section