The Australian Taxation Office have released a new draft ruling on self-education expenses. We
revisit the deductibility of self-education expenses and what you can and can’t claim.
If you undertake study that is connected to your work you can normally claim your costs of that study as a tax deduction
- assuming your employer has not already picked up your expenses. There is also no limit to the value of the deduction you can claim. While
this all sounds great and very encouraging there are still issues to consider before claiming your Harvard graduate degree, accommodation,
and flights as a self-education expense.
Clients are often surprised by what cannot be claimed. Self-education expenses are not deductible if you are undertaking the education to
obtain a new job or something not connected to how you earn your income now. Take the example of a nurse’s aide who attendees university to
qualify as a registered nurse.
The university degree and the expenses associated with degree are not deductible as the nursing degree is not sufficiently connected to
their current role as a nurse’s aide.
Since everyone's needs are different, we'll build a package and quote for the level of protection best suited to you.
Buying a property, whether as an investment or residence, is never a straightforward process. Take time to research properties, and then make a competitive offer to get the deal done.
Without the need for upfront payments, asset finance can play an important role in improving a business's cash flow management.
The report found that student accommodation is also likely to see steady rental growth in 2024.
After a tough year for commercial property investors, the outlook will be better in 2024, according to an expert.
Australian property prices have officially recovered from the declines of last year, home prices have risen by 8.1%, taking values to a new record high at the end of November.
A decision by the Administrative Appeals Tribunal has the tax world in a flurry after found taxpayer who sold the apartment she lived in for a loss, then claimed the $265,935 loss in her tax return as a deduction.
Legislation enabling an extra 15% tax on earnings on super balances above $3m is before Parliament.
Commercial investors continue to seek out alternative assets even as higher interest rates see demand for the sector slow down.
We are thrilled to share that Shannon Smit, our Founding Director and CEO, has been appointed to the ATO's Small Business Stewardship Group for 2024/25.
Uncertainty has reigned over the last few years, but can we expect more consistency as we head into 2024.
Queensland first-home buyers have another reason to celebrate this Christmas with the state government recently doubling the first home owner grant to $30,000.
2023 has been a tricky year for commercial property investors. However, the tourism and industrial sectors have continued to be the strongest performers.
If your work Christmas party is out of the office, keep the cost of your celebrations below $300 per person if you want to avoid paying FBT.
Sellers who list their properties during the holiday season are typically motivated for a quick sale.
As the calendar approaches the year's end, car manufacturers are keen to make space for the latest models set to hit the market in the new year.
Cash flow issues can be particularly challenging during the holiday period, so business owners need to be on guard and plan ahead.
While giving gifts and spending time with family is important, if you’re looking to buy a home, it’s important that you keep your finances on track.
Recent research shows why giving to others can provide us with a mental boost. We feel happier when we have a choice in how and who we give, and when we see the results of our generosity.
Spending big over Christmas can risk undoing good budget habits. Thinking differently opens up lots of opportunities to spend less while still experiencing the joys of the season.
Rising interest rates hit smaller companies. Now it looks like the rate rise cycle could be coming to an end.
We step through recent research that shows why giving to others can provide us with a mental boost.
As the holiday season approaches, it's crucial to consider how your spending habits may influence especially when it comes to utilising easy credit options.
A budgeting app is an app designed to help you optimise the spending and savings choices you make each month.
We'll dive into some of the everyday mistakes and tricky grouping issues that small businesses often encounter when dealing with payroll tax.
Maintaining control over cash flow is undeniably a complex balancing act. It's a challenge that lacks a quick and universal solution.
This article aims to shed light on red-flag indicators that may suggest it's time to consider changing accountants, providing insights into the reasons behind such a decision.
Prepare Your Business for a Successful New Year - Challenging conditions, unpredictable supply chains, and increasing inflation highlight the importance of expert financial support.
A dedicated construction and trade accountant possesses an in-depth understanding of the sector's unique requirements and intricacies.
The journey often begins with businesses adopting simple ownership structures, yet as they progress and expand, intricate challenges emerge.
While any accountant can handle trade-related finances, opting for a specialist in the trades industry offers unique advantages.
Regularly monitoring your income and expenses is crucial. These practices will help keep your financial standing robust.
Several options when it comes to acquiring earthmoving equipment. One of the most common choices is to own the equipment outright.
According to the Australian Institute of Family Studies, more than half of Australian mothers expect their children to graduate from university.
Despite an increase in the region’s office vacancy rate the Gold Coast office market is facing a shortage of office space within the next three years.
Education is the gateway to unlocking opportunities and creating a brighter future. While various methods to establish an education fund, Investment Bonds are frequently contemplated.
Industrial assets are expected to retain their position as a favoured option among the commercial property market due to their strong relative returns.
A proficient financial adviser collaborates with you to understand your goals and overall desired financial and lifestyle outcomes
Despite the 13 interest rate increases in 19 months, your mortgage interest rate could and should still start with a ‘5’.
If you have an investment property loan and redraw on the loan for a different purpose the loan account becomes a mixed purpose account.
A recent case before the AAT demonstrates how fine the dividing line is between GST-free and taxable foods.
When it comes to financing your new car it’s possible to use either a low-doc car loan or a full-doc car loan.
A well-thought-out plan is the first step toward executing a cost-effective renovation.
Treasury has released draft legislation for consultation to enact the Government’s plan to increase tax rate superannuation balances above $3m from 15% to 30% from 1 July 2025.
Australian properties from overseas property seekers have risen 11.5 percent in the past three months. Meanwhile, rent searches are up 7.8 percent from the same demographic.
“Wage-theft” is illegal in Queensland, South Australia and Victoria under State laws.
The statistics on employer superannuation guarantee (SG) compliance look pretty good with over $71 billion, collected without intervention from the regulators in 2020-21.
A bridging loan allows you to acquire your next property before selling your current one, streamlining the transition between homes.
With inflation remaining high, interest rates are likely to stay at elevated levels for some time.
A crucial lesson for all budding startups is that maintaining a healthy cash flow is a pivotal factor in ensuring the long-term survival of your business.
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.
