To calculate a capital gain or capital loss, you need to know the cost base of your asset. The basic rules are the...
Business Articles
Work-related Travel Expenses
In a general rule, travel expenses which are relevant to gain assessable income are deductible under s8-1 of ITAA to...
Considering An Accounting Software?
Managing your paperwork “more regularly” and “systematically” will surely save you a lot of time and tax...
Self-education Deduction
Self-education expenses You may be able to claim a deduction for self-education expenses if your study is work-related...
Prepayment Deduction
Deduction for Prepayment Individuals and businesses can use this guide to work out their deductions for prepaid...
Immediate Deduction
Immediate deduction for certain non-business depreciating assets costing $300 or less The decline in value of certain...
Meal Allowance
Overtime Meal AllowanceA meal allowance claim can only be claimed if the taxpayer receives a meal allowance from the...
Car Deductions
Work-related car expenses (2 methods): 1. Cents / per km method: maximum 5000km. You do not need written evidence but...
Work-related Deductions
Section 8-1 of Income Tax A (ITAA 1997) Assessment Act 1997 categorises deductions into general deductions and...
How much tax I have to pay as a pensioner?
For those who have reached age pension age, they can earn some income without paying the full tax. If you fit this...
Do I have to pay tax?
The tax-free threshold for your assessable income is $18,200. The meaning of “assessable income” is “income that can...
Do I need to lodge a tax return?
If any of the following reasons applies to you, you must lodge a tax return. You were an Australian resident and you:...