Property investors can access a wide range of tax deductions and items subject to depreciation for their rental property yet many miss out on unknown tax breaks, foregoing an average of $20,000 a year on a $1 million house. Here
If your taxable income is under the tax-free threshold you may still need to lodge a tax return. Common reasons for this include, if you: – are entitled to the private health insurance rebate but did not claim your correct
Many taxpayers who rent out a room in their home, whether it be via Airbnb or another avenue, are unaware that the practice can incur capital gains tax (CGT). Many assume CGT does not apply because profit made on the
Individuals can claim tax deductions when giving gifts or donations to organisations that have the status of deductible gift recipients (DGR). To be eligible to claim a tax deduction for a gift, the ATO stipulates that it must meet the
