Home Office Expenses

Home Office Expenses

Home Office Expenses

The ATO has reported that, last year, 6.7 million tax payers claimed a record $7.9 billion in deductions for ‘other work-related expenses’, which includes expenses related to working from home (i.e. home office expenses). Along with this increase in the number of claims for home off.....

Concessional Superannuation Contributions Cap

Concessional Superannuation Contributions Cap

There is a cap on the concessional superannuation contributions you make to your superannuation each financial year.  If you contribute over these caps, you may have to pay extra tax.  The cap amount and how much extra tax you have to pay may depend on your age, which financial year your contribut.....

AIRBNB – YOUR TAX OBLIGATIONS

AIRBNB – YOUR TAX OBLIGATIONS

Currently there are 115,000+ renters on Airbnb.  You can rent out your house, apartment, a room or sublet your residence/property through the Airbnb app.  Any income earned from renting property through Airbnb is assessable.  Airbnb hosts are generally treated exactly the same way as anybody else.....

How To Lodge Outstanding Tax Returns

How To Lodge Outstanding Tax Returns

Most people need to lodge an income tax return every year.  Having outstanding tax returns can lead to penalties from the ATO.For self-lodging individuals, the deadline to lodge your tax return is currently the 31st October.  If you used an accountant/tax agent to submit your previous tax retu.....

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