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Claiming deductions for working from home

Posted on 29 August 2024
Claiming deductions for working from home
  Since the lockdowns of 2020-2021, the idea of working from home has become much more mainstream, with many still working from home at least some days of the week in 2024. As we head into the 2023/24 tax season, we offer this refresher on how to claim a tax deduction in your personal tax return, for expenses incurred while working from home. The Australian Taxation Office offers two methods to choose from, when calculating your working from home tax deduction; the fixed rate method an...
Posted in:Rhodes DochertyTaxationTax deductionATOEmploymentEmployersBusinessWork from homeEOFYHome officeASV Wadeson  

New Increased Super Contribution Caps

Posted on 23 April 2024
New Increased Super Contribution Caps
New Increased Super Contribution Caps As the end of financial year gets closer, some investors are thinking about the most effective ways to boost their super balance, particularly with an increase in the caps on contributions from 1 July. The concessional contributions cap, which is the maximum in before-tax contributions you can add to your super each year without paying extra tax, is increasing to $30,000 from $27,500 in the new financial year.i The cap increases in line with average we...
Posted in:Rhodes DochertyTaxationSuperannuationTax deductionATOEmploymentEntitlementsEmployersRetirementFinancial adviceFinancial YearEOFYASV Wadeson  

Counting Down to 30 June

Posted on 16 June 2021
Counting Down to 30 June
Counting Down to 30 June It has been a year of change like no other and that extends to tax and superannuation. As the end of the financial year approaches, now is a good time to check some new and not so new ways to reduce tax and boost your savings. So gather up any paperwork you need to prepare your personal tax return. This may include bank and superannuation statements, records related to share or property investments, receipts for charitable donations and work-related expenses. Wi...
Posted in:Rhodes DochertyTaxationShare marketsFranking creditsinvestmentsSuperannuationTax deductionPropertyNegative gearingATOEmploymentWork from homeCapital GainsFinancial adviceFinancial YearEOFYHome office  
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SMSFs - Keeping it in the Family Self managed super funds (SMSFs) can offer their memb...
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  Since the lockdowns of 2020-2021, the idea of working from home has become much...
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