24taxaustralia

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on a summer‘s day in

Working from home in 2023?

The calculations for expenses relating to working from home in the 2023 financial year is a little more complicated. The ATO built some roadblocks because too many people claimed the expenses.

Let me know what your expenses were for gas and electricity. And check your invoices for the cost per unit for Kw (Electricity) and Mj (Gas). Did you also have a split system or aircon?

I can calculate for you which method would be better for you to use, either the Fixed rate method or the Actual cost method.

Give me a call to arrange the lodgment of your 2023 income tax return.

Luckily these guys play better footy than I filtered this picture.
Wishing the team a successful season 2023!!!!

Lunch time.

Let’s get the job done.


Photo credit https://instagram.com/sh*tbits_?igshid=NWRhNmQxMjQ=

The U17's locked in a great win yesterday against Wandin/Yarra. With 5 young men playing their 100th game. Woohoo!

It's now easier to call 24taxaustralia.

Prepare for tax time 2022

The ATO announced that they will start full processing of 2021–22 tax returns on 7 July 2022 and paying refunds from 16 July 2022.

Make sure your information is available for pre-filling. Information from employers, government agencies, banks and private health insurers will be reported to the ATO which can take until mid-August. Employers have time till 14th July to finalise 2022 wages online.

24taxaustralia Registered Tax Agent
Member of the Institute of Public Accountants
Qualified Accountant

No need to wait for the tax bus. Take a seat and let me help you with all things accounting and tax. Your ride to accurate accounting and fast pace tax returns is here!

No need to wait for the tax bus. Take a seat and let me help you with all things accounting and tax. Your ride to accurate accounting and fast pace tax returns is here! Give me a call today! Ph 0448 809 157 https://24tax.com.au/ #tax #Taxreturn #accounting #accountant #tecoma #yarraranges

Been meaning to write your Will for a long time?

The easiest way to tick a Will off your list is to book a free phone consult with me, or complete my online intake form so that I can step you through the process ... and keep you motivated!

So, to earn yourself some long lasting peace of mind

1) book a free phone consult via my website www.atyourwill.com.au
or
2) spend around 20 minutes completing my no obligation START MY WILL form: https://forms.office.com/r/T7vu8VHNre

Meanwhile, to find out more about my mobile service and charges head to www.atyourwill.com.au/faqs

Donna Farrell - AT YOUR WILL Mobile Lawyer

Keep records when working from home!

The ATO is recommending, if you are continuing to work from home during the 2021–22 income year, remember to keep a record of the hours you work from home and keep receipts for all items purchased. That will give you the best outcome when calculating your working from home deduction in future years.

TAX TIME 2021

The ATO will start processing of 2020–21 tax returns soon. Get in early and contact me today.

The ATO receives data from government agencies such as Services Australia and the Land Titles Offices, data from financial institutions, share registry companies, and companies and trusts paying dividends or distributions. They also get data from e-commerce platform providers such as eBay, Airbnb, Uber, cryptocurrency exchanges; WooCommerce, Wix Stores, Shopify etc.

The ATO is looking closely at work related deductions. The three golden rules for claiming a deduction are:

• you must have spent the money yourself and not been reimbursed.
• it must be directly related to earning your income.
• you must have a record to prove it.

TAX TIME 2021

The ATO will start processing of 2020–21 tax returns soon. Get in early and contact me today.

Low and middle income earners may be eligible for the low income tax offset and the low and middle income tax offset. To be eligible for one or both of these tax offsets:

• you need to be an Australian resident for income tax purposes and pay tax on your taxable income
• your taxable income needs to be below certain income thresholds.

You do not need to complete a section in your tax return to get these tax offsets. If you meet the conditions above, your entitlement to any offset amount is added to your tax return.

A tax offset is different from a deduction. Your taxable income is your total income minus any deductions you claim. A tax offset on the other side reduces the tax you pay on your taxable income.

TAX TIME 2021

The ATO will start processing of 2020–21 tax returns on 7 July 2021, so get the ball rolling and contact me today.

As an employee, you may be able to claim deductions for work-related expenses you incurred while performing your job, such as:

• car expenses (not for trips between your home and your workplace)
• clothing, laundry, and dry-cleaning expenses (occupation-specific clothing, protective clothing, and unique, distinctive uniforms)
• face masks where you are required to wear a mask at work because of COVID-19
• hard hats, safety glasses and sunscreens
• phone & internet expenses
• trade magazines, reference books, technical journals
• professional seminars, courses, conferences, and workshops
• tools and equipment expenses: for the work-related portion of tools and equipment you may be able to claim an immediate deduction for an item that cost $300 or less, otherwise, you claim depreciation over its effective life.
• travel expenses
• union fees and subscriptions to trade, business, or professional associations

Tax Time 2021

The ATO will start processing of 2020–21 tax returns on 7 July 2021 and will generally finalise the electronically lodged tax returns within 12 business days.

Paying refunds is expected to start from 16 July 2021.
Get the ball rolling and contact me today.

TAX TIME 2021

The ATO will start processing of 2020–21 tax returns on 7 July 2021 and will generally finalise the electronically lodged tax returns within 12 business days.

Paying refunds is expected to start from 16 July 2021.

Get the ball rolling and contact me today.

Looking for Bookkeeping or (Tax) Accounting Services? I am a tax accountant /agent and Xero Certified Advisor and here to help you.

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