by Brian Spurrell | Apr 3, 2023 | Retirement, Superannuation, Tax Tips
Since 1st July 2018 qualifying older Australians who sell their home may qualify to make a super contribution up to $300,000 for a single person and $300,000 for each of a couple providing they were aged 65 and over. According to the ATO this opportunity to transfer...
by Brian Spurrell | Aug 1, 2022 | Rental Properties, Tax Tips
The ATO has advised that income and tax deductions from rental properties are one of four key areas that it is focusing on this tax time. The other three areas are record keeping, work related expenses and capital gains from crypto assets, property and shares. In this...
by Brian Spurrell | Jul 1, 2022 | Changes to Super, Changes to Tax, Tax Tips
Part A – Tax Changes There are two tax changes relating to claiming work related expenses relevant for most taxpayers that will apply from July 1st 2022. 1) Cents per hour claim for car expenses Earlier in the year the ATO proposed that the cents per kilometer method...
by Brian Spurrell | Nov 1, 2021 | Covid-19, Tax Tips
This month we will turn our attention to Government grants, payments and stimulus programs that have delivered desperately needed financial support for individuals and businesses impacted upon by the COVID-19 lockdowns. There has been such a complex array of support...
by Brian Spurrell | Oct 1, 2021 | Rental Properties, Tax Tips
If you own a rental property and you missed reading my September column it would be a good idea to download page 28 of the September edition of The Diary and read Part A of this topic before progressing to this month’s column. A key area where the ATO has found a high...
by Brian Spurrell | Sep 1, 2021 | Rental Properties, Tax Tips
If you are one of the more than 1.8 million Australians owning investment rental properties then this month’s column will be of interest to you. Assistant Commissioner Tim Loh recently reminded property investors to take more care when submitting their tax returns as...
