Preparing for tax season is really a year-round task. The first tip is to update financials on a monthly basis, using a streamlined software or cloud-based system. This way, everything you need is all in… Read more
The following car threshold amounts apply from 1 July 2017; Income Tax There’s an upper limit on the cost you use to calculate the depreciation for the use of your car or station wagon (including four-wheel drives) for… Read more
There are only two choices for how you can claim work-related motor vehicle travel. You can claim a deduction for your vehicle expenses on the cents-per-kilometre basis if the travel claim does not exceed 5000… Read more
Assets costing below $300 that are used to generate income can be immediately deducted. These assets may include tools for tradespeople, calculators, briefcases, computer equipment and technical books purchased by an employee, or minor items of plant purchased… Read more
