Initial Repairs and claiming deductions When purchasing an older property as an investment it is common for buyers to proceed immediately with repairs to increase the potential for gaining a tenant. The ATO are focusing on these investments particularly where initial repairs are being claimed as expenses rather than having them added to the property…
The taxable value of a car fringe benefit is usually calculated under either the statutory formula or the operating cost method. However, certain car fringe benefits are exempt from fringe benefits tax (FBT). What is FBT The ATO Website states that a fringe benefit is a ‘payment’ to an employee, but in a different form…
Do you ever get to tax time and think to yourself “I really wish I had thought about what I could claim six months ago?” Well what better time to start considering your tax than April! Research from Officeworks in 2014 shows Australians miss out on $426 each of unclaimed tax each year — or $1.65…
