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Airbnb and Victoria Locked in a BattleAirbnb and Victoria Locked in a Battle

20/09/2023 Steven Rider CPA 0 Comments

Airbnb Australia warns Victorian Premier Daniel Andrews’ claim that 40,000 homes would become available for longer-term rent in Victoria if his government introduces the first statewide levy on short stay accommodation do not stack up. Mr Andrews gave his strongest hint yet on Monday that Victorians will be hit with an Airbnb{...}

Housing

500,000 tradies needed!500,000 tradies needed!

12/09/2023 Steven Rider CPA 0 Comments

500,000 more tradies needed to meet 1.2m housing target Campbell Kwan AFR Australia will need 500,000 new tradies over the next five years if it is to reach the federal government’s target of 1.2 million new homes over that period. “We will need around 500,000 entrances into the industry for{...}

Property Accounting

Can your lunch at work be tax deductible?Can your lunch at work be tax deductible?

07/08/2023 Steven Rider CPA 0 Comments

When it comes to fringe benefits tax, one of the exemptions is meals. Food and/or drink provided by an employer (must be a company or trust) to employees is often FBT exempt. This means that the company can claim a deduction for it in certain circumstances. These circumstances are: that{...}

Property Accounting

2023 Income Tax – What’s new for individuals2023 Income Tax – What’s new for individuals

27/07/2023 Steven Rider CPA 0 Comments

Before you complete your tax return for 2022–23, find out what’s new and any changes that may affect you. On this page Working from home deduction changes The fixed rate method for calculating your deduction for working from home expenses has been revised. The revised fixed rate method allows you to claim{...}

Property Accounting

ATO data-matching for motor vehicle registrationsATO data-matching for motor vehicle registrations

27/07/2023 Steven Rider CPA 0 Comments

The ATO has gazetted a notice of a data-matching program – Motor vehicle registrations 2022-23 to2024-25 – which will enable it to continue to acquire motor vehicle registry data from the eight Stateand Territory motor vehicle registry authorities for this period. It will risk profile taxpayers buying, sellingor acquiring motor{...}

Property Accounting

Uber Drivers Can Claim an Immediate Tax Deduction for Capital Expenses Such as a CarUber Drivers Can Claim an Immediate Tax Deduction for Capital Expenses Such as a Car

25/07/2023 BAS Agent 0 Comments

If you are an Uber driver did you know the ATO sees you as self-employed? Well yes that is the case and it means you have access to all the tax concessions available to small businesses, including the temporary full expensing of capital items available until 30 June 2023. That{...}

Property Accounting

Sharing Economy Reporting Regime commences 1 JulySharing Economy Reporting Regime commences 1 July

02/07/2023 BAS Agent 0 Comments

I have a lot of clients who earn income by providing taxi travel (including ride-sourcing) or short-term accommodation, and I make sure they’re aware of their tax obligations. From 1 July, the electronic distribution platforms they sell through will be required to collect and report seller transactions to the ATO as{...}

Property Accounting

The little-known tax breaks that could boost your superThe little-known tax breaks that could boost your super

29/06/2023 Steven Rider CPA 0 Comments

The new financial year is almost upon us: it might be time to look into the often-overlooked tax breaks you could get by contributing extra to your superannuation. Tax breaks on retirement savings do not attract nearly the same attention as tax breaks on the family home, leaving many –{...}

Property Accounting

Small business technology investment boostSmall business technology investment boost

28/06/2023 Steven Rider CPA 0 Comments

Check if you can claim a 20% bonus deduction on technology expenditure to help digitise your small business. About the boost Small businesses with an aggregated annual turnover of less than $50 million will be allowed an additional 20% tax deduction to support their digital operations and digitise their operations. The{...}

Property Accounting

Cryptocurrency space in desperate need of further tax guidanceCryptocurrency space in desperate need of further tax guidance

23/06/2023 Steven Rider CPA 0 Comments

Grey areas surrounding the tax treatment of cryptocurrency assets is causing major headaches for both accountants and taxpayers dealing with these types of assets, says a specialist accounting firm. Accountants specialising in the cryptocurrency space are facing significant challenges in navigating the tax framework due to a severe lack of{...}

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