Category «Wage Earners»
Doctors working in Medical Centres – GST and Income Tax
Download PDF Primarily this blog is intended for recently qualified doctors and dentists starting work in a practice. Once you move on to acquiring assets and an ownership interest in the Medical Centre this will open up further opportunities for tax strategies and responsibilities. We touch on this towards the end so you can …
Record Keeping Instructions
Download PDF Good record keeping is probably the most effective tax tip going. This blog covers the record keeping requirements for cars, mobile phones and home office claims. Vehicles: In order to claim a vehicle you must “hold” the vehicle. If your employer makes the lease payments on the vehicle, your employer “holds” …
Travel Allowance Substantiation Concession, More Work Than Substantiating
Download PDF Many decades ago the government introduced substantiation concessions for people travelling in their job and receiving a travel allowance. Basically, if the amount you claim is reasonable you do not need to keep receipts. Every year the ATO releases a detailed ruling of the amount that it considers reasonable depending on where …
Finally a Breakthrough on Compromised TFNs
Download PDF With over 2 percent of the taxpayers in our group being classified by the ATO as having compromised tax file numbers (TFN), I started asking questions of the ATO. This percentage increases every year because there was no way a taxpayer could become uncompromised or obtain a new TFN. A compromised TFN …
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