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Tax Arana Blog
Keep up to date with the latest information released from the ATO and other industry bodies via our blog. We aim to sift through the ‘tech speak’, and give you simple “to-dos” (and not “to-dos”) to keep on top of your tax preparation.
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The Little Black Book of Scams
The ACCC has created a pocket-sized guide so you can spot, avoid, and protect yourself against scams. Whether it’s romance or money, this guide will help you stay safe!
Maximise your income tax return
Tax Arana has put together a list of what you can do TODAY to maximise your income tax return. So what can you do? Read Tax Arana’s tips to maximise your income tax return.
Tax Scams – How to spot them
Tax scams are fast evolving and these scammers are becoming more difficult to identity. A lot of them are overseas callers masquerading under an Australian phone number.
Granny Flat – Tax review
If you currently own a granny flat, or are looking at building one, the Government is going to undertake a review of the Capital Gains Tax (CGT) treatment of granny flat arrangements.
Changes to HELP repayments
New HELP repayment rates and thresholds have been set for from 1 July 2019 to improve sustainability and the debt recovery of the Student Financial Supplement Scheme.
Tax changes for small business
Tax Arana has its finger on the pulse when it comes to changes to tax, and knowing the latest rules can mean the difference between a big tax return, and you owing the ATO a sum of money.
Cash only business? Consider going online!
This is the time of year that the Australian Tax Office let us know which sectors the auditing spotlight will be on. These tend to be sectors with lots of ‘cash’ only transactions.
Ignorance is NOT bliss when it comes to tax
Individuals + small businesses are being scrutinised by the ATO. With the end of the financial year approaching quickly, your attention (should) be on preparing your accounts!
Tax break for small business
Small businesses can immediately deduct the business portion of most assets if they cost less than $20,000, if they were purchased between 7:30PM on 12 May 2015 and 30 June 2018.
Gift + Donations. What can I claim?
Organisations that are entitled to receive tax deductible gifts are called ‘deductible gift recipients’ (DGRs). You can only claim a tax deduction for gifts or donations to organisations that have a DGR.
Travelling for work – what’s deductible?
Vehicle and travel expenses; what can you claim? If driving to and from work is not considered work travel; so what is? Travelling between two separate work places is deductible.
Declaring all ‘on the side’ income
Do you share a service that sometimes makes you a little bit of cash ‘on the side’? Maybe dog walking, graphic designing or even renting our a spare room for extra cash?
Work clothes – what can you claim?
There has been a 20% increase in clothing and laundry claims in the past 5 years, and now, the ATO is watching. There are three golden rules to abide by when claiming clothing expenses.
Financial New Year’s Resolutions
New year’s resolutions are often talked about at Christmas dinners, parties and new years’ day BBQs (and usually laughed at around Easter time); but what about financial new years resolutions?
Do you own a rental property?
Do you know what you are entitled to claim, and what you are NOT entitled to claim as a rental property expense? The ATO has recently released a publication to help!
Avoid common tax return errors
Tax + Super Australia has recently released a list of the most common errors made, and how to avoid them. Come and take a look so your next tax return is pain free and quick.
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