Calls for The Australian Government to Expand Self-Education Deductions
The Institute of Public Accountants has called upon the federal government to follow through with its proposal to expand tax deductions to training and education that is unrelated to an individual’s current employment activities. At the present time, taxpayers are only eligible to claim tax deductions for self-education expenses that are directly related to their […]
Australia’s Small Business Sector Needs to Create 210,000 More Jobs to Ensure Full Economic Recovery
New research released by Xero on Wednesday 5th May illustrates that Australia was one of the fastest recovering economies in the world during the second half of 2020. It has been revealed that only 210,000 more jobs need to be created across Australia’s small business sector by the end of this year to drive a […]
An Important Reminder for Taxpayers to Keep Working from Home Records
Despite Australia faring much better than the majority of the world during the covid-19 pandemic, the working patterns of employees has changed in step with the rest of the world. Over the past 12 months millions of Australians have been forced to work from home. It is therefore crucial for taxpayers to keep a diligent […]
12,000 Victorian Businesses Were Unfairly Denied Covid-19 Grants
The Victorian ombudsman has announced that 12,000 businesses across the state might now be eligible to receive retrospective covid-19 grants of up to $10,0000 after it was discovered that there were flaws in the grant applicant process that unfairly penalised human error. As a result of the probe, the Department of Jobs, Precincts and Regions […]
Tips for Dealing with Financial Stress
Financial stress can stem from a number of different reasons such as; being stuck in debt, not earning enough to live your desired lifestyle, the expense of raising children or being married to a someone who struggles with money. Here are some tips to help reduce your financial worries and some tips to help you […]
The Queensland Government’s Small Business Covid-19 Adaption Grant Program
The purpose of the Queensland Government’s “Small Business Covid-19 Adaption Grant Program” is to support small businesses subject to closure or who have been highly impacted by covid-19 enforced shutdown restrictions. This program aims to help small businesses to adapt and sustain their operations, whilst building resilience. The program aspires to help small and micro […]
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 […]
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 […]
