by Affinity | Mar 5, 2020 | Business eNews
Businesses can claim a tax deduction for expenses on work related travel. However there are additional issues that need to be considered when a holiday is planned to coincide with the work trip, or there is so other private activity during the trip (e.g. catching up...
by Affinity | Oct 24, 2019 | Business eNews
The ATO is reminding businesses that are looking to expand or improve their business and thinking of buying new or second hand assets, that medium sized businesses with a turnover up to $50 million (but at least $10 million) are eligible for the instant asset...
by Affinity | Oct 24, 2019 | Business eNews, Tax News
The Government has announced that more than 10 million Australians will receive immediate tax relief following the passage of legislation through the Parliament, which increases the top threshold for the 19% tax rate from $41,000 to $45,000 and increases the low...
by Affinity | Oct 24, 2019 | Business eNews, Tax News
The ATO has published some of the most unusual claims that they disallowed last financial year. Nearly 700,000 taxpayers claimed almost $2 billion of ‘other’ expenses, but the ATO’s systematic review of claims had found, and disallowed, some very unusual...
by Affinity | Oct 24, 2019 | Business eNews, Tax News
The ‘cents per kilometre’ method broadly allows an individual taxpayer to claim up to a maximum of 5,000 business kilometres per car, per year without the need to keep any written evidence (e.g., receipts) of car expenses. Importantly, taxpayers making a ‘cents per...
