Reconstructing tax records after a natural disaster
The ATO says it can help if you have lost tax records due to a natural disaster such as a bushfire. It says it can…
Deductions – General
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Fictions (and facts) about work expense deductions
There can be varied sources for some of the myths about tax deductions —pub-talk, BBQ-banter, hairdresser-homilies, what-your-taxi-driver-just-heard and many others. We sort out fact from…
Penalty interest can be deductible, under specific conditions
A new ruling has been released by the ATO on the deductibility or otherwise of “penalty interest”. The term penalty interest refers to an amount…
ATO expects many laundry claims will be hung out to dry
This tax time, the ATO, as usual, has nominated some tax claim hot spots that it will be paying attention to — and which you…
Records for claiming work-related expenses
When completing your tax return, you’re entitled to claim deductions for some expenses, most of which are directly related to earning your income. To successfully…
Personal deductions for car parking expenses
Car parking fees incurred in the course of producing assessable income are generally deductible, but special rules apply if the car is used by an…