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Tax Advice

Claiming a Tax Deduction

for Work Clothing

 

Do you need to wear a suit to work? Or perhaps you need to wear a uniform emblazoned with your company’s logo? Perhaps you work in a clothes shop

Contractor or Employee

 

 

It’s common in certain trades for people to be taken on as independent contractors rather than employees. Deciding whether a person is a contractor or an employee can be a minefield,

Claiming Car Travel

 

If you use your car for work you are entitled to claim the expenses that relate to the business costs of using your car to do your job.

Self-Educational Expenses

 

Self-education expenses are deductible when the course you undertake leads to a formal qualification

Purchasing a Investment Property

 

The income received is taxable to the owners of the property in the same proportion as the ownership interest

Living Away from Home Allowances

 

LAFHA’s are intended to compensate you for expenses incurred whilst you are working away on secondment or on a contract which relate to expenses such as accommodation

Salary Sacrifice

 

The aim of salary packaging is to enable an employee to receive a combination of income and benefits in a tax-effective manner.

Which Structure You Should Choose

 

First, let’s consider the simplest of the various structures; starting a business as a sole trader or as part of a partnership

HECS Help

 

HECS-HELP is a loan scheme that assists eligible Commonwealth supported students to pay their tuition fees.

Trusts & Tax

 

Few structures are as widely used but as little understood as trusts, especially when it comes to the potential tax consequences which can arise where they are misused.

Capital Gains Tax

 

When you sell an asset, whether as part of your business or in a personal capacity, it’s very easy to forget that there will probably be tax consequences.

Donations & Gifts

 

You can only claim a tax deduction for gifts or donations to organisations which are deductible gift recipients (DGRs).

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