Work-related clothing and laundry expense claims

Work-related clothing and laundry expense claims

The ATO says that clothing claims are up nearly 20% over the last five years with people either making mistakes or deliberately over-claiming. Common mistakes include people claiming ineligible clothing, claiming for something without having spent the money, and not...
$20k deductions for small business continues

$20k deductions for small business continues

From 1 July 2019, the immediate deduction threshold will reduce back to $1,000. There are no limits to the number of times you can use the immediate deduction assuming your cash flow supports the purchases. If your business is registered for GST, the cost of the asset...
Personal Income Tax Rates for 2018

Personal Income Tax Rates for 2018

The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000. Dovetailing into the tax bracket change is the introduction of the Low and Middle Income Tax Offset for those with taxable incomes up to $125,333. The offset is a...