Julia's Blog
By Julia Hartman
Download PDF Good record keeping is probably the most effective tax tip going. This blog covers the record keeping requirements for cars, mobile phones and home office claims. Vehicles: In order to claim a vehicle you must “hold” the vehicle. If your employer makes the lease payments on the vehicle, your employer “holds” …
Download PDF With over 2 percent of the taxpayers in our group being classified by the ATO as having compromised tax file numbers (TFN), I started asking questions of the ATO. This percentage increases every year because there was no way a taxpayer could become uncompromised or obtain a new TFN. A compromised TFN …
Download PDF ATO interest charged after 1st July, 2025 will no longer be tax deductible. A measure budgeted to raise $500million over the 3 years forward estimates period. The current ATO interest rate is 11.17% for the GIC, payable when you have not paid a debt you know you owe. The SIC is 7.17%, …
Download PDF General Deductions: You can only pay a maximum of 12 months in advance. In the case of interest payments check if the bank will let you do this and that they do treat it as an interest payment not just let it reduce the loan balance. If you pay rates, insurance …
Download PDF 2024-2025 Federal Budget Summary This is a very succinct summary of the budget, just the parts that we consider relevant to our clients’ financial decisions. There is plenty of detail available on web sites and in the newspapers, this blog is intended to help you just get the information you need in …