Call us 9822 8940

Quick tax tips

Individual tax payers
  •  The law has changed you will only be exempt from the Medicare Levy Surcharge if you earn below a certain amount this coming year.
  • Many employees are required to use their own car to do work related activities, such as collect the mail, travel to another work site. Keep a record, a log book of these journeys so we can claim them as an expense
  • Some occupations like teachers, architects, tradesmen need to have a home office to complete their work duties. Keep a record of how many hours you work in this office for a period of 10 weeks, so we have a sample we can use to estimate the rest of the years use. A percentage of your electricity bill can be claimed as a work related deduction
  • For those with a rental property, items like dishwashers, heaters, stoves, fridges and washing machines can be deprecated .Depreciation is a tax deduction.
  • New laws extend directors personal liability for any unpaid company taxes and superannuation. Make sure PAYG withholding and superannuation are paid each quarter.
  • The construction industry must now supply a list of all contractors they use and the amounts paid to them to the ATO
  • If the business owner uses one room as an office some of the items are tax deductible.