Entries by Rajesh Singh

Add value and increase deductions with an alfresco area

Claim depreciation on outdoor structures and save Australia is made for outdoor living, so it is little wonder that alfresco areas have become sought after additions in any property. Owners see great value in adding permanent weatherproof structures to an investment property. Creating an indoor-outdoor environment which can be enjoyed all year round not only […]

Tax deductions available to property investors

What tax deductions are available to property investors? When looking to purchase an investment property, it is worthwhile to ask a number of questions. While many investors consider location, purchase price and tenanting ability when contemplating an investment property purchase, depreciation is often overlooked as an important factor. Depreciation can help unlock the cash flow […]

BEWARE OF FRAUD AND TAX SCAMS

BEWARE OF FRAUD AND TAX SCAMS Scam emails, faxes, SMS and phone calls can look or sound very convincing. You can generally tell they’re not genuine because they offer you an unexpected refund or grant and ask you to provide personal information, credit card information or money. THE ATO will never email you asking for […]

The Top 5 Forgotten Tax Deductions

The Top 5 Forgotten Tax Deductions We surveyed our senior accountants and asked them “what are the top 5 forgotten deductions on individual tax returns?” – that is, deductions people can claim, but often forget or don’t know about We’ve compiled the survey responses to create the Etax Accountants Top Five Forgotten Tax Deductions. Take a look […]

Property Tax Tips

Don’t postpone getting a depreciation schedule Partial year deductions still benefit investors Often when an investment property is purchased towards the end of financial year the new owner will postpone getting depreciation schedule prepared until next year. However, there are ways in which partial year deductions can be maximised, resulting in extra cash for the […]

TAX TIPS JUNE 2016

Employers Must Become Super Stram Compliant   Are you super stream ready? With the SuperStream deadline of 30 June rapidly approaching, ATO Deputy Commissioner James O’Halloran says now is the time for employers who are not yet using SuperStream to cross is off their-to-do list. SuperStream is the new way employers must pay super. It […]

Taxation Tips

GOVERNMENT TO RETHINK BACKPACKER TAX This tax mooted by the government if introduced would see backpackers working in the agricultural industry being taxed at 32.5% from dollar one. It seems for once that the Accounting professions plea for sanity has not fallen on deaf ears. Deputy Prime Minister Barnaby Joyce has welcomed a review into […]

Tax Tips – Don’t get into hot water with claims

Property investors often worry about ongoing repairs and maintenance costs however these concerns can often be reduced by claiming back these costs when completing a tax return. Before claiming deductions, it is necessary for investors to understand the difference between claiming repairs, maintenance and capital improvements. Repairs The Australian Taxation Office (ATO) defines repairs as […]

Depreciation Tips – Investment Property

With the Possible Changes to Negative Gearing we have had many queries about depreciation deductions. Please find attached some information top assist you when buying a new investment property.  What is Tax Depreciation? Tax depreciation is as a building gets older and items within it wear out, they depreciate in value. The Australian Tax Office (ATO) […]