New ATO Work from Home Legislation Explained

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Sole Traders

New ATO Work from Home Legislation Explained

Working from home has become a new norm for many of us since the pandemic began. As a result, the Australian Taxation Office (ATO) introduced a Working from Home legislation to help individuals claim deductions for expenses incurred while working from home. On 16 February 2023, the ATO revised the fixed rate method, which applies […]

New ATO Work from Home Legislation Explained Read More »

Working from home has become a new norm for many of us since the pandemic began. As a result, the Australian Taxation Office (ATO) introduced a Working from Home legislation to help individuals claim deductions for expenses incurred while working from home. On 16 February 2023, the ATO revised the fixed rate method, which applies

Small Business

What is a tax plan and should my business have one?

Put simply, tax planning is a way of minimising the tax you pay. It’s a process of looking at your complete financial situation and projecting your future income in order to predict your tax liability and take advantage of opportunities to decrease your tax bill before the end of the financial year. Tax planning is

What is a tax plan and should my business have one? Read More »

Put simply, tax planning is a way of minimising the tax you pay. It’s a process of looking at your complete financial situation and projecting your future income in order to predict your tax liability and take advantage of opportunities to decrease your tax bill before the end of the financial year. Tax planning is

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Airbnb – What you need to know!

Before venturing out and renting all or part of your residential property for income producing purposes, know the tax implications beforehand. When you engage in ‘sharing economy’ websites such as Airbnb, Stayz or similar: Please note: Renting Out Your Home Renting out part of your home When renting out part of your home, such as

Airbnb – What you need to know! Read More »

Before venturing out and renting all or part of your residential property for income producing purposes, know the tax implications beforehand. When you engage in ‘sharing economy’ websites such as Airbnb, Stayz or similar: Please note: Renting Out Your Home Renting out part of your home When renting out part of your home, such as

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