2014/15 Tax Return Checklist

2014/15 Individual Tax Return Checklist
  • Common work-related claims made by individuals
  • Depreciable plant, etc, costing $300 or less
  • Clothing expenses
  • Self education expenses
  • Other work-related expenses
2014/15 Year-end Checklist for Business
  • Maximising deductions for non-SBE taxpayers
  • Prepayment strategies – non-SBE
  • Accelerating expenditure – non-SBE
  • Accrued expenditure – non-SBE
  • Maximising deductions for SBE taxpayers
  • Accelerating expenditure – SBE
  • Prepayment strategies – SBE
Click here for – 2014/15 Tax Return Checklist...

June – 2015 Practice Update

June – 2015 Practice Update covers following points
  • ATO warns about aggressive phone scams
  • Holiday homes that taxpayers rent out
  • Early access to super for people with terminal illness
  • Consider buying house in spouses name if used partly for business
  • The sharing economy
  • Tax help for people affected by severe weather in NSW
  • ATO's new appeals division – the "RDR"
  • FBT:  Car parking threshold
  • Luxury car tax threshold
Click here for – June 2015 Practice Update...

Low interest rates effect on investors

With the move by the Reserve Bank to cut the cash rate to 2.00% earlier this month, bank interest rates are at historic lows. In the recent years of interest rate drops the property market has experienced significant growth in capital cities. Despite the more affordable borrowing rates, consumers are faced with the struggle of purchasing owner occupier properties resulting from the rise of real estate. The driver of the growth is due to property investment. As rentals remain strong new investors are finding opportunities to enter the market with rates catering to their risk appetite. But the significant growth puts pressure on Government to bring housing prices to an affordable level for the average Australian. The impact shows that owner occupier purchasers are continually being priced out by investors with foreign investment in property showing...
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