Records you need to keep on rental properties
When you own a rental property, keeping records is important. These will help you meet…
Browsing: Tax
The amounts you don’t need to include as income
Amounts which are not classified as income are split into 3 categories. Exempt income This…
Tax treatment of insurance payments for damaged or destroyed property after a disaster
The Australian weather can be unpredictable, resulting in intense weather conditions. Bushfires, severe storms or…
Trustees and beneficiaries registering for tax in trusts
Trusts have their own tax file number (TFN) that should be used to complete tax…
Taxation of your unused leave when leaving a job
When your job ends, whether there has been a termination of employment or redundancy you…
Fuel tax credits for businesses
The government provides fuel tax credits for businesses with a credit for the fuel tax…
Lodging your business activity statement
Businesses that are registered for GST are required to lodge a business activity statement (BAS).…
What do tax audits involve?
Tax audits are conducted when the ATO deems that a more extensive examination of an…
How to reduce the tax you pay
There are various potential ways you can reduce the tax you pay. You may be…
What record-keeping requirements does the ATO have in place?
Record-keeping, if done well, can help running a business much easier. It gives you an…