Unlocking Tax Savings: Can Your MBA (or Other Studies) Pay Off at Tax Time?
If you’ve invested in further study — an MBA, a leadership course, or a postgraduate qualification — you might be wondering: can this help at tax time? For many professionals, the answer is yes — but only if the right boxes are ticked. The ATO’s rules on self-education expenses are strict, and the line between […]
Holiday Homes Under the Microscope: What the ATO’s New Guidance Means for You
For many Australians, a holiday home does double duty. It’s a place to escape with family and friends, and during the rest of the year it’s listed on Airbnb or Stayz to help cover the costs. Until recently, many owners assumed they could claim most of the usual deductions for the property without much trouble, […]
Super Tax Shake-Up: Big Balances Beware
If your super balance is comfortably below $3 million, you can probably relax, as the proposed changes to the super rules shouldn’t adversely affect you (yet). But if your super is nudging that level, or if you’re clearly over, the Treasurer’s announcement last month could change how you think about super’s generous tax breaks. For […]
From Air Fryers to Swimwear: Tax Deductions to Avoid
With the 2025 tax season fast approaching the Australian Taxation Office (ATO) is reminding taxpayers to be careful when claiming work related expenses. This is in reaction to a spate of claims that didn’t quite pass the ‘pub test’. To give you a few examples of what didn’t get through… These claims were deemed personal […]
Divorce, you, and your business
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid from the company will need […]
When is a gift not a gift?
The Tax Commissioner has successfully argued that more than $1.6M deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an Australian resident Russian couple ‘gifted’ over $1.6M in unexplained bank deposits, […]
How does tax apply to Electric cars?
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles. The FBT exemption for electric cars If your employer provides you with the use of a car that is classified as a zero or low emissions vehicle there […]