by Quinns_News | Mar 8, 2017 | Blog
In December 2016 the Treasurer of The Commonwealth of Australia Mr Scott Morrison presented the 2016/2017 Mid-Year Economic and Fiscal Outlook (MYEFO). MYEFO proposes a number of tax changes, one of which, allowing the Australian Taxation Office (ATO) to disclose to...
by Quinns_News | Mar 1, 2017 | Blog
A depreciating asset is an asset that has a limited effective life and can reasonably be expected to decline in value over the time it is used. Depreciating assets include such items as computers, electric tools, furniture and motor vehicles. Know what to deduct Land...
by Quinns_News | Mar 1, 2017 | Blog
Each year the Australian Tax Office (ATO) places EXTRA emphasis on particular areas of individual tax returns. This year the ATO will be focusing on claims made by owners of investment properties and holiday homes. Apportionment of Rental Income and Deductions...
by Quinns_News | Feb 22, 2017 | Blog
To understand your tax situation you need to determine if you are an Australian or foreign resident for tax purposes. As an Australian tax resident your assessable income includes ordinary income derived from all sources, whether in or out of Australia, during the...
by Quinns_News | Feb 22, 2017 | Blog
As one of the key changes for small business, the federal government has an increased the instant asset write-off threshold to $20,000 (up from $1,000). This allows small business taxpayer to get an immediate tax deduction for all individual depreciating assets that...
by Quinns_News | Feb 15, 2017 | Blog
If you use you use you mobile phone, home phone or internet for work purposes you may be able to claim a deduction. To be eligible you must not be reimbursed for these expenses and must be able to support your claim. The private portion of your usage is not eligible...
