Making additional contributions into your superannuation is just one method you can use to reduce the tax you pay each year, which can be particularly appealing to higher income earners who consequently see higher proportions of their salaries disappear on tax. However, it’s not just higher income earners who can benefit from this strategy.
Let’s not sugar coat it – each year we pay large sums in taxes (some more than others depending on what you earn…. AND what you can claim). You earnt it, so we want to help you keep it (well, as much of it as possible). Ultimately, that comes down to knowing what you can and should be claiming, and that’s where we come in.
We’ve pulled together a snapshot from last night’s 2022 Federal Budget announcement to highlight who will be receiving a bit of a boost to their back pocket in the Treasurer’s latest budget.
This is a topic we are asked about more and more as there is a move towards people working from home either for an employer or for themselves in a main or side business. Our guidance differs depending on if you own your own home or if you rent.
Most businesses stem from a passion, and many passions show themselves in our recreational and hobby activities. The lines begin to blur when we start making money from what we love, whether it be a full time or ‘spare time’ pursuit.
The methods for claiming your car expenses have changed in the last 12 months in an effort to ‘simplify’ the way deductions are made.
Tax Planning Tips for 2016! Find out how to minimise your tax with a few easy steps.
