Declare what you share
Declare what you share With living costs rising every day, many people are keen to earn some income on the side using the flexible opportunities created by the new sharing economy. Digital platforms like ride-sourcing app Uber, or Airtasker for odd jobs and deliveries, are making it easier than ever for buyers and sellers to connect. Remember it’s income, […]
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Aged care changes and the family home
Aged care changes and the family home Decisions around aged care are always difficult and emotional. From the start of next year they are likely to get even more complex, with both the Age Pension and aged care sectors set for another shake-up. Currently, many people entering aged care choose to keep their former home and rent it out to help with […]
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How to avoid an ATO audit
How to avoid an ATO audit While there is nothing pleasant about being audited by the Australian Tax Office (ATO). Even in a best-case scenario, it creates stress and chews up time and energy. At worst, if the ATO decides you’ve failed to disclose important information or misrepresented your financial situation, the financial penalties can be significant.i While there is no […]
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Budget your way into the black
Budget your way into the black $2.2 trillion. That’s how much Australian households owe right now, according to the latest ABS stats.i Household liabilities grew by $1.2 billion in the last quarter alone. Real household debt per person has risen steadily by around 2 per cent per year, and now sits at around $79,000 per person.ii Sound scary? The good news […]
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Can I give a Christmas gift to my clients?
Can I give a Christmas gift to my clients? At this time of year it is common to provide gifts to existing clients and customers as an act of goodwill and as a thank you for their custom and support of your business. As the gift is an expense to your business it is generally considered to be a tax deduction. The ATO has […]
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