Negative Gearing and the New Federal Budget
Negative gearing is a tax arrangement that allows property investors to deduct rental property losses from their other taxable income. For decades, it has been a popular strategy […]
Tax Deduction
Good news in the Budget?
The budget is looming closer and there is talk of potential new deductions for individual taxpayers. The Australian Government has announced plans to introduce a new $1,000 instant […]
Charge the Electric vehicle
Australians bought 72,758 electric/plug-in hybrid vehicles in the first six months of 2025. This is a 24.4% increase over the same period in 2024. Regardless of your thoughts […]
The Hit List – 2025
The top 10 individual deduction areas that ATO is targeting this financial year. 1. Work-Related Expenses (Especially Working-From-Home) The ATO is concentrating heavily on inflated or unsupported […]
Say goodbye to the instant asset write off
From Tuesday, 1 July 2025, the government will be making significant changes to the instant asset write-off scheme for small businesses. Instant Asset Write-Off Threshold Reduced The instant […]
Tax time warning from the ATO
The Australian Taxation Office (ATO) is warning Australians to stop claiming private expenses as work related on their tax returns. In 2024 more than 10 million people claimed […]
ATO interest no longer deductible
We all know we get to claim any interest we have paid to the ATO for outstanding debt as a tax deduction. However, from 1 July 2025 you […]
When is a Donation Deductible?
To claim a deduction for a donation, you must be the person that gives the donation and it must meet the following 4 conditions: It must be made […]
Claiming a tax deduction for motor vehicle expenses
Did you know you can claim a tax deduction on a secondhand car … even if it’s financed? A financed second hand car is treated exactly the same […]
It can’t be that time again?
I’m sure as you age time passes more quickly. It certainly seems 30 June comes around quicker and quicker each year. As usual at this time of the year….