News & Publications
Check back here for important updates, tips and advice.​
01
News Item
​8th March 2018
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Residential investment property owners please take note.
As of 1st July 2017 (unless you are an excluded entity) you are no longer allowed to claim the cost of travel in respect to your investment properties.
This will affect your 2017-18 tax return onwards.
If you would like assistance in ensuring you do claim all the expenses you are entitled please get in touch and we will be happy to assist.
02
News Item
23rd February 2018
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ATO Focus on Work Related Expenses
The ATO has announced they will be paying close attention to what individuals are claiming as 'other' work-related expense deductions.
In order to claim work-related expenses, you must ensure:
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- you spent the money yourselves and were not reimbursed;
- the expense was directly related to earning your income; and
- you have a record to prove it.
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If the expense is for work and private use, you can only claim a deduction for the work-related portion.
The ATO is reminding everyone they are not automatically entitled to claim standard deductions. You need to be able to show how you worked out your claims. Records must be kept when incurring expenses and evidence on how your claim was calculated.
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03
News Item
14th June 2017
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We're coming up to the end of another tax year and there are a couple of things we would like to bring to your attention.
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HOLIDAY HOMES!
The ATO has announced it is paying close attention to properties available for rent that are located in popular holiday destinations. If this does include you make sure you only claim deductions that relate to when the property was genuinely available for rent and keep accurate records. If you offer the property for rent at a discounted rate then you can only claim deductions equal to the amount of rent charged.
https://www.ato.gov.au/…/Media…/Homing-in-on-holiday-homes/…
DONATIONS AND GIFTS!
If you are wanting to make a difference and receive a tax deduction at the same time ensure you check that the recipient is a registered Deductible Gift Recipient (DGR). This can be done by clicking the link below and entering the organisation's name or ABN.
http://www.abr.business.gov.au/
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