Expenses you can’t claim You can’t claim a deduction for: coffee, tea, milk and other general household items, even if your employer provides these at work items your employer provides – for example, a laptop or a mobile phone expenses your employer reimburses you for the cost. ✅ Eligibility Criteria To claim working from home expenses,…
From 1 July 2026, Australian law requires accounting practices to carry out anti-money laundering and counter-terrorism financing (AML/CTF) checks when providing certain services. Why are these checks required? The AML/CTF laws are designed to prevent money laundering and terrorism financing, increase transparency around who owns and controls businesses and trusts, and ensure professional services are…
✅ 1. Reconcile Your Accounts Ensure all bank accounts, receivables, and payables are up to date and match your records. Write off any bad debts before 30 June to claim a deduction. ✅ 2. Instant Asset Write-Off For businesses with turnover under $10 million: You can immediately deduct assets costing less than $20,000 (excl. GST). Assets must be installed and ready for use by 30 June…
1. Maximise Concessional Contributions Cap for 2025–26: $30,000 These are pre-tax contributions (e.g. salary sacrifice or personal deductible contributions). They reduce your taxable income and are taxed at 15% in your super fund (often lower than your marginal tax rate). Just remember to Lodge a Notice of Intent form to claim a deduction with your…
Investing in rental property can be a smart financial move—but it comes with important tax responsibilities. Whether you’re a first-time landlord or managing multiple properties, staying on top of your obligations is key. We’ve put together helpful checklists and up-to-date guidance based on the latest ATO requirements for 2026 From what income to declare to…
The Australian Government has introduced important changes to the Tax Agent Services Act 2009 (TASA) to strengthen the integrity and professionalism of tax practitioners. These changes affect how your tax agent operates and what you can expect from them. 📜 New Code of Professional Conduct Obligations From 1 July 2025, all tax practitioners must comply with eight new ethical and…
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The Commission has announced a 4.75% increase to minimum wages, provided that: the lowest rate in any award that applies to ongoing employment must be at least $1004.90 per week or $26.44 per hour any entry-level rate that applies to the first 6 months (or less) of employment must be at least $978.10 per week…
Continue Reading Payday Super & Minimum wages increase 4.75% from 1 July 2026→
