Over the last few years Beyond Accountancy has helped a lot of people get their tax affairs in order. This experience has taught us a lot, not only about how the ATO deals with late lodgments, but how it makes people feel. Generally, the feeling is one of stress or anxiety, and it can be … Read more
We refer to visas and the current rules for temporary migrants, but we emphasise that we are not government officials or migration agents, and you should confirm the details of this article with the relevant authority before cancelling or changing insurance. The author owns shares in a health insurer. Health insurance rules for 457 visa … Read more
If you lodge a tax return and you owe tax, you may be asked to pay PAYG instalments. PAYG instalments are down-payments towards your estimated future tax. Who has to pay PAYG instalments? You have to pay PAYG instalments if: have repeating income, e.g. rent, interest, dividends, employee share grants, business income (but not one-off … Read more
The question of whether study expenses are tax deductible can be a complex one. Claiming a deduction under the “self-education” section of your tax return involves fitting into strict criteria, and deduction thresholds apply. Self-education deduction rules The following summary is from the ATO website: Self-education expenses You can claim a deduction for work related … Read more
The 50% CGT discount no longer applies to foreign residents who make a capital gain on taxable Australian property. This change became law on 29 June 2013. Foreign or temporary resident individuals must meet certain eligibility conditions to apply the CGT discount. From 8 May 2012, the application of the 50% CGT discount will depend … Read more
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