Julia's Blog
By Julia Hartman
Fly In Fly Out Workers Salary Sacrificing Their Airfares Make sure your employer pays for your airfares direct, not reimburses you or the salary sacrifice is at best a waste of time, or at worse going to cost you more than if you just paid the airfares out of your after tax take home pay. …
Claiming Property Expense When Not Rented The big question is – “What is Exceptional Damage Beyond Your Reasonable Control?” The answer in the case of the above photo would depend on a DNA test because if your family does the damage, no tax deduction. What a segue! Sounds a lot more interesting than discussing …
Don’t Panic! The radio stations will soon start threatening doom and gloom if you don’t lodge your tax return by 31st October, 2019!!! Tax agents are provided with a lodgement program so they can lodge tax returns for most of the year and retain quality staff. It is not a matter of making …
Keeping the Nexus Between the Borrowing and the Expenditure What the borrowed money is used to buy determines whether the interest on the loan is tax deductible. That is the basic rule. The link between the borrowing and the expenditure is called the nexus. This nexus needs to be very clear. You need to be …
So You think You Are A Contractor and Can Split Income? The Three Stages of Being a Contractor: Qualifying for an ABN – You need to be an enterprise, more than just providing your labour. A ute may help if it is fundamental to your income producing activities but a station wagon or sedan won’t …