Tax Deductions Australia

About General Law and Tax Law Partnerships A general law partnership is formed when two or more people (and up to, but no more than, 20 people) go into business together. Partnerships are generally set up so that all partners are equally responsible for the management of the business, but each also has liability for […]

It’s a question that the ATO has been asked very infrequently, but after the third such request, it decided to issue a ruling – which still stands. It was about 1990 when the ATO was asked about the tax-deductibility of interest on a loan business may have taken out to repay a tax debt. It […]

There is an under-used gem hidden within the small business simplified depreciation rules that in some circumstances can widen the opportunity to access this valuable deduction. Everyone assumes that the $20,000 instant asset write-off is exclusive to eligible small businesses. But it is possible, under certain conditions, for individuals such as employees to be able to claim […]

As tax time is fast approaching we will be outlining common work-related expenses for Truck Drivers. Short-haul or local Truck Drivers usually return home at the end of a day’s work. A long-haul Truck Drivers usually sleeps away from home in the course of driving the truck.   When you can make a claim In […]

Your current employment and the course you undertake must have sufficient connection for your self-education expenses to qualify as a work-related tax deduction. If a course of study is too general in terms of your current income-earning activities, the necessary connection between the self-education expense and your income-earning activity does not exist. A tax deduction […]