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Latest News

A commonly forgotten tax deduction: Association fees

A commonly forgotten tax deduction is for subscription or membership fees to an association or union, which affects many professionals, business or trades people who will probably be members of some sort of association. See taxation ruling TR 2000/7.

EOFY checklist for employment-related tax deductions

This checklist contains a general list of general and specific employment-related deductions and should be used as a guide only. The results may vary depending on individual circumstances. The individual should also have the relevant written evidence where required. Also, how much of the expense is allowable as a tax deduction will depend on the extent the expenses are incurred in earning the person’s assessable income.

Builders: Get your taxable payments report ready before August 28

Businesses in the building and construction industry, take note – the deadline is August 28, 2018 to report the total payments you made to each contractor you enlisted the services of in 2017-18. You will need to report these payments to the ATO on the Taxable payments annual report.

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