Kevin’s Corner
Covid has changed the way we do business and even this week there is another lockdown in the wings for Melbourne. In this week’s Kevin’s corner we are looking at how domestic tourism is benefiting from the changing landscape and where the opportunities are for accommodation providers to build long term sustainability and profitability. I […]
The Fallout of JobKeeper Has Been Overstated
The Australian Government has revealed that between 16,000 and 40,000 workers who were on JobKeeper during its final stage have lost employment since the $90 billion wage subsidy program was discontinued on Sunday 28th March. The recently released figures, are drawn from estimates from Single Touch Payroll microdata for the fortnight ended Sunday 11th April, […]
Tax Advice for Australians Who Have Been Affected by Natural Disasters
Apart from the obvious and tragic devastation that is inflicted upon a person’s property during a natural disaster these types of events such as a flood or a fire can also result in the loss of income for many affected people. This can come about as a result of the damage done to workplaces, vehicles, […]
Tax Deductions Available for Nurses & Midwives
If you are a nurse, midwife or another kind of health professional, it is common for you to purchase work-related items and pay for them with your own money. It is important is be aware that these out-of-pocket expenses are often valid as tax deductions which you can claim on your next tax return. Here […]
Australians Are Using Early Access to Super to Pay Mortgages and Credit Card Bills
New figures released by the Australian Bureau of Statistics (ABS) revealed that almost a third of those who applied for early access to their superannuation as a result of covid-19 enforced financial hardship have used the money to pay their mortgages, rent or other household bills. The statistics were released on Wednesday 14th April as […]
Some of the Best Ways to Use Your Tax Refund
The money you are refunded as a result of your tax return could be used as an opportunity to eliminate debt, increase your savings or do something ‘long-term’ to support your children. Here are some tips to better utilise the money you get from your tax refund as opposed to going straight to the shops […]
CGT and FBT Exemption Draft Legislation Released
The Australian Government has published two pieces of draft legislation which were originally announced in the most recent federal budget from October 2020. The first piece of legislation which has been released include measures to exempt employers from the 47 percent fringe benefits tax (FBT). The second piece of legislation released provides a capital gains […]
Tax Deductions for Hospitality Workers
The hospitality industry has been one of the hardest hit sectors during the covid-19 pandemic. To make your financial situation less difficult it is important for hospitality workers to be aware of the many tax deductions that they are entitled to thus allowing them to put a huge amount of hard-earned cash back into their […]
How to Claim A Tax Deduction Via the Car Logbook Method
One of the most effective ways to increase the amount of money you receive on your tax return is to claim a deduction on your travel expensive. The car logbook method is a common way to track your car expenses. If you use your car for employment purposes, the Australian Tax Office will allow […]
70,700 New Job Were Added to The Australian Workforce in March 2021
The Australian Bureau of Statistics (ABS) has announced that almost 71,000 new jobs were added to the Australian workforce between February and March 2021. The total hours worked has also returned to the same levels that were recorded prior to the covid-19 pandemic. These figures are also illustrating hat there is a big increase in […]
