Edible underwear. Breast implants. Cigarettes. These are the baffling and bizarre deductions Aussies thought they could get away with at tax time.
It’s well known that the cost of getting your tax return prepared by an agent is tax deductible but many of us are forgetting to claim this related expense.
Tempting as it might be to blow your tax refund on a new TV or holiday, here are five things you can do that will see you reap financial rewards for years.
Can you claim suits on your tax? What about the cost of washing uniforms? We look at which items in your work wardrobe you can and can’t claim at tax time.
The federal government has proposed sweeping changes to the way investors claim depreciation on previously used assets within a residential property.
Haven’t gotten around to lodging your tax return from 2016 or earlier? You’ll miss out on an extended deadline to file this year’s return.
Tax refund season is well under way, and those lucky enough to achieve a sizeable refund will be dreaming of extravagant holidays and enormous TVs. But those who end up with a smaller refund than expected or, worse, owing the ATO money, will be left scratching their heads.
Did you know that most people under 75 are now able to claim a tax deduction for after-tax contributions they make into super?