I received a book for Christmas on property investing. The author was encouraging readers to change from a consuming/spending habit to a saving/investing habit. The author challenged his readers to save $33 per day for a month, which amounts to $1000 (Source: From 0 to 260+ Properties in 7 Years: by Steve McKnight).
Our household budget [...]
Fir information on 2009 Budget changes ==> 50% Investment Allowance
With the intention of driving more business investment during the current economic environment, the Australian federal government has launched a temporary 30% investment allowance valid for most new assets either ordered or acquired between 13 December 2008 and 30 June 2009.
For assets acquired between 1 July [...]
Tax Bonus Payment
ATO’s Calculator ==> How much will I get?
Outstanding debts:If you have an outstanding tax debt, and you are entitled to a tax bonus, the Tax Office will not offset your tax bonus against this debt. You will receive the tax bonus as a cheque or a payment into your bank account.
Eligibility:The ATO will [...]
Q. I keep a room set aside in my house for a home office and would like to claim some expenses.
A. If a taxpayer carries on all or part of their employment activities from home, then some portion of the home expenses can be deducted. Where a home is a place of business, [...]
Q. I have incurred travel expenses this year. What can I claim?
A. Your travel must be relevant to your job function for you to claim a deduction for those expenses. Where this is the case you can claim the cost of transportation and incidentals. If your travel involved an overnight [...]
Q. Can I claim a deduction for sun protection items?
A. A deduction is available for outdoor workers who buy sunscreen lotion, sunglasses and hats for use at work. The claim must be substantiated and adjusted for private use.
David Maynard is committed to assisting others in managing and growing their future within a complex taxation system, [...]
If you’ve been affected by flood or bushfires don’t worry about tax matters, the Tax Office will work with you to help you meet any upcoming obligations.
This also applies to people involved in fire control or support services.The ATO realise it may be a while before you can focus on tax matters.
With this in mind, [...]
If you’ve been affected by bushfires don’t worry about tax matters, the Tax Office will work with you to help you meet any upcoming obligations.
This also applies to people involved in fire control or support services.
We realise it may be a while before you can focus on tax matters.
With this in mind, if you are [...]
Q. My job requires me to keep my knowledge up to date and I buy books and journals. Can I claim them all?
A. If technical books, trade books or journals are necessary to fulfil job function efficiently then the cost of their acquisition is deductible.
David Maynard is committed to assisting others in managing and growing [...]
Q. I have to buy tools/equipment for my job. What can I claim and how much?
A. You are able to claim expenditure incurred in replacing, insuring and repairing tools of trade that you use for earning your income. The amount you can claim will depend on what records you have kept.
David Maynard is committed to [...]
