Reading Room - Taxation
If you’ve invested in further study, you might be wondering if it can help at tax time? For many professionals, the answer is yes if the right boxes are ticked.
A new Bill before Parliament proposes changes that could affect small businesses, including extending the $20,000 instant asset write-off for another year.
A recent Administrative Tribunal Case found that medical expenses were not allowable tax deductions for a person on a TPD pension income as there was no direct link – or “nexus” – between the medical treatments and the pension income.
ATO interest on overdue tax debts is no longer tax-deductible, making ATO payment plans far more expensive for taxpayers. We explore the alternatives.
From 1 July 2025, the superannuation guarantee (SG) rate rose to 12%. There are no changes to the annual concessional contribution cap for personal contributions.
With the purchasing of luxury vehicles on the rise it’s important to be aware of some features of the tax system that can impact on the real cost of purchase.
This tax season, there's a surge in questions about claiming interest on a loan as a tax deduction. It's important to ask is 'why did you borrow the money'?
Finfluencers advising from Insta and TikTok have huge followings and speak with conviction. But taking advice from unqualified sources can have consequences.
If you're carrying an ATO debt, it may cost you even more from 1 July 2025 as two types of interest charges imposed by the ATO are no longer deductible.
