Working from Home Deductions for 2023 and Beyond
Changed Record Keeping Requirements to Claim Tax Deductions for Working from Home from 2023. The ATO has released Draft guidance on what you can claim. Start reading and get sorted now!
Is it tax deductible?
What can I claim at end of year tax time? If you’re an individual taxpayer keep this handy checklist on hand.
The ATO work related car expense rate v Petrol prices
The ATO work related car expense deduction is set to rise to $0.75/km from 01 July 2022. Given that petrol prices are expected to reach $2.50/Litre is the ATO rate enough?
The rise in the work-related car expense deduction to 75¢ a kilometre from July fails to reflect the reality, said accounting bodies, and will leave millions of taxpayers short-changed.
Flood relief measures for those in flood affected areas
The recent floods have impacted several communities - the following is a brief summary of help and where you can find it. If we can be of assistance in any way please reach out.
Last week, the Federal Treasurer announced immediate tax relief measures for those in flood-affected areas.