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Do your homework when working from home

Last year, 6.7 million taxpayers claimed a record $7.9 billion in deductions for ‘other work-related expenses’ which includes expenses related to working from home. This worries the Commissioner… Technology-driven changes to the employment market are seeing record numbers of Australians claiming deductions for expenses incurred while working from home. But a high level of mistakes, […]

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Small Business CGT Concessions Anti Avoidance Measures Bill Passes Parliament

We finally have some long-feared changes to the small business CGT concessions. These are in the Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018 and have now passed the Parliament. These changes propose to add additional basic conditions for these concessions to apply, but only where the CGT asset is share in a company […]

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Learning from the Solomon Islands – No deductions if no withholding coming to Australia…

I have spent some time working with the Inland Revenue Division of the Solomon Island. Way back in 2005 the Solomon Island Government introduced subsection 20(2A) into their income tax legislation. It states: By 1 July 2019 the Australian tax system will catch up with our neighbours (this is and unfair criticism as the Solomon […]

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Lets have a new tax…

For Fathers Day My boys bought me a new electric shaver… All I could think about was tax avoidance… That is because in 1698, the cleanly shaved Emperor of Russia, in a hope to make Russia men look more European, instituted a Beard Tax. If you have a beard you have to pay a tax. […]

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Travel and Accommodation Deductions

I have been getting asked a lot of questions about travel and accomodation deductions… They are normally about a contractor or employee who is working away from their home far enough away they can’t just come home each night. They live in Geelong but work in Melbourne, they live in Perth and work in Darwin… […]

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My favourite 2 Tax Myths

In “Tax myths busted!”, Commissioner of Taxation, http://www.ato.gov.au, 30 June 2018  The Commissioner has identified the top 10 tax myths and misunderstandings that are those involved in preparing individual tax returns have, including tax agents prepared and self-prepared returns. And generally, they relate to substantiation of work related deductions. MYTH #1: Claim $150 for clothing […]