Is your tax return overdue?

Tax returns are due on 31 October and cover one financial year, which is 1 July to 30 June. Regardless of how far away the tax return deadline is from when you are reading this, it is important to have your documents sorted as early as possible. Late tax returns will lead to all sorts […]

Work from home 80 cent per hour deduction extended

The Australian Taxation Office announced earlier this year that the 80 cent per hour work from home deduction shortcut method will remain in place until 30 June 2021.┬áThe shortcut method was introduced in April 2020 as a response to the COVID-19 pandemic and was initially due to expire in September 2020, but was extended until […]

Australian government to broaden eligibility for self-education tax deductions

Recent updates to the federal budget indicate that individuals may be able to make tax deduction claims for upskilling courses that improve their capabilities and employability in industries unrelated to their current employment. ┬áThis is an expansion of the current tax regime which allows eligible Australian taxpayers to claim deductions for self-education expenses only where […]

Federal Budget 2021 introduces tax concessions for small businesses

The COVID-19 pandemic hit the world hard this year. Lulled into a state of complacency with the comparatively quick and easy defeat of its predecessors (swine flu and before that SARS), COVID was not foreseen by Australia nor by its Treasurer. Photo by Tim Mossholder on Unsplash Pre-COVID estimates for the finances of the country […]