ATO focus on work-related expenses
The ATO has warned taxpayers to ensure that work-related deduction claims in their tax returns are correct. This tax time, the ATO will focus on claims for work-related expenses, particularly those relating to: overnight travel transporting bulky tools and equipment, […]
Read MoreWork Related Travel Expenses – Interstate
Claiming for work related travel expenses will apply, for example, while being away overnight for work due to an interstate work conference. These expenses must be incurred directly related to one’s work as an employee, self-employed or a partner, although […]
Read MoreClaiming R&D Tax Incentive: Information And Communication Technology Projects
Companies that operate in the field of Information and Communication Technology (ICT) can take advantage of the R&D Tax Incentive to boost their cash-flow and development capabilities. Depending on the company’s revenue levels, a 45% refundable or a 40% non-refundable […]
Read MoreShare The Benefits Of A Split Depreciation Report
Last year approximately half of the depreciation reports completed by BMT were for more than one owner. Ownership structures influence how depreciation deductions are calculated. Properties with multiple owners can create a complex tax situation. A BMT Tax Depreciation report […]
Read MoreTax Deductions For Property Investment
What tax deductions are available to property investors?When looking to purchase an investment property, it is worthwhile to ask a number of questions. While many investors consider location, purchase price and tenanting ability when contemplating an investment property purchase, depreciation […]
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