Blog
Investment, GST, Tax and Capital Gain issues – Crypto currency
The development of digital currency, also known as ‘cryptocurrency’ (e.g., Bitcoin) has created significant taxation challenges for local and international legislation, until now these currencies operate outside the jurisdiction of governments but can be used to purchase goods and services. Including NFTs (non-fungible tokens), crypto asset generates from transfer, store, and trade electronically, are digital […]
Investment Property in Australia: A Guide to Investing in Real Estate
Investment property has long been a popular choice for Australians looking to build wealth and secure their financial future. With a stable real estate market and consistent rental demand, investing in property can offer a reliable source of income and long-term capital growth. In this article, we will explore the key factors to consider when […]
Capital Gain Tax: What You Need to Know
Capital gains tax (CGT) is a tax on the profit you make from the sale of an asset that has increased in value over time. In Australia, CGT is imposed on a wide range of assets, including real estate, shares, and businesses. Understanding how CGT works can be complex, but it is an important consideration […]
Australian Taxation Office (ATO) Revises Working-From-Home Deductions for 2022-23
The Australian Taxation Office (ATO) has revised its working-from-home (WFH) deductions for the 2022-23 financial year, which allows taxpayers to claim a fixed rate of 67 cents for WFH expenses. Previously, the fixed-rate method for WFH deductions was 52 cents per hour, but the revised method includes phone and internet expenses, electricity and gas usage, […]
Starting a small business
Starting a small business can be an exciting and challenging endeavor. In Australia, there are a number of steps and considerations to keep in mind when launching a new business. Here are some tips and best practices to help you get started. Conduct Market Research The first step in starting a small business in Australia […]
Can I claim my education expenses in my tax return?
A tax return is a document submitted to a taxing authority that lists earnings, outlays, and other pertinent financial data. Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns. Tax returns must typically be filed yearly. Courses That May Be Used to Reimburse Self-Education Costs […]
Common tax deductible items for home based businesses
A home-based business is a business whose primary office is in the owner’s home. Basically it is a small business that works from the business owner’s home office. It can be like the works are done from home – for example where the business does not own or rent any properties other than your home. […]
Tax deduction you need to be aware of as uber drivers
Tax deduction you need to be aware of as uber drivers In Australia, ridesharing services like Uber and others are become commonplace. Uber drivers offer a swift, secure, and convenient means of transportation, as well as the freedom to choose their own hours and use their own vehicles. Uber drivers not only provide ridesharing but […]
Tax rules for holiday makers in Australia
Since 1975, the reciprocal Working Holiday Maker (WHM) program in Australia has helped to forge closer ties between young people in Australia and other countries. It permits young individuals to take a 12-month vacation during which they can work part-time and attend school. A working holiday may involve full- or part-time employment, volunteer activity, or […]
Tax laws around cryptocurrency in Australia
Cryptocurrencies are without a doubt more than just a craze, yet many people continue to have misconceptions about them, and they continue to have questions about their real worth, actual uses, and long-term potential. In Australia, when someone buys cryptocurrency as an individual, he won’t have to pay tax on it until he sells it. […]