Personal Tax Return Tips

ATO Focus This Tax Time

By Warren Kruger / June 25, 2022 / 0 Comments

The ATO has announced four key areas that it will be focusing on for Tax Time 2022: Record-keeping. Work-related expenses. Rental property income and deductions. Capital gains from crypto assets, property, and shares. Before claiming income tax deductions for their expenses, taxpayers must ensure: they spent the money themselves and were not reimbursed; if an […]

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Avoid Double Dipping On Your Tax Deductions

By Warren Kruger / June 21, 2022 / 0 Comments

Taxpayers are reminded not to make the mistake of ‘double dipping’ on tax deductions (that is, claiming expenses twice) in their tax return this year. Some of the ‘double dipping’ mistakes commonly made relate to the following deductions: Working From Home Expenses A common mistake involves using the ‘shortcut method’ to claim working from home […]

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No Reduction In The Private Health Insurance Rebate As Of 1 April 2022

By Warren Kruger / May 3, 2022 / 0 Comments

An event that we have become accustomed to every 1 April, is that the amount of the Private Health Insurance (‘PHI’) rebate decreases. The Australian Government rebate on PHI is annually indexed on 1 April by a Rebate Adjustment Factor (‘RAF’) representing the difference between the Consumer Price Index and the industry weighted average increase […]

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Covid Test Costs To Be Tax Deductible

By Warren Kruger / February 22, 2022 / 0 Comments

The Australian government announced on 7 February 2022 that legislation will be changed to ensure covid test costs will be tax deductible for the 2022 financial year. The deduction will apply both when an individual is required to attend the workplace or has the option to work remotely. What testing expenses will you be able […]

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Payment Extension Relating To Jobkeeper Objections

By Warren Kruger / February 15, 2022 / 0 Comments

The JobKeeper rules have been amended to ensure the ATO can make payments to certain taxpayers after 31 March 2022. Where a taxpayer has objected to an ATO decision relating to JobKeeper, a payment can be made by the ATO after 31 March 2022 to give effect to the objection decision and decisions of the […]

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Higher PAYG Withholding Rates Continue to Apply To Backpackers

By Warren Kruger / February 1, 2022 / 0 Comments

As we recently communicated, the High Court has held that the ‘working holiday maker tax’ (also known as the ‘backpackers’ tax’) did not apply to a taxpayer on a working holiday visa from the United Kingdom who was also an Australian tax resident. This was due to the application of the Double Tax Agreement between […]

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