Tax Return

Claiming Motor Vehicle Expenses On Your Tax Return

November 14, 2023
Claiming Motor Vehicle Expenses On Your Tax Return | Accountants Bayswater | TAS

Claiming Vehicle Expenses As a business owner, one of the perks is the ability to claim tax deductions for expenses related to motor vehicles used in your business operations. This includes cars and certain other vehicles that play a role in running your business smoothly. The good news is that claiming motor vehicle expenses can …

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Why Are My “Connections” Important To Know During Tax Season?

October 27, 2023

Entities Connected to You In the realm of tax law, a critical concept revolves around understanding the notion of “entities connected with you.” This concept serves as a linchpin in several aspects of taxation, from determining one’s status as a Small Business Entity to ascertaining the value of assets when seeking eligibility for Small Business …

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The Tax Implications Of The Sharing Economy

September 25, 2023
The Tax Implications Of The Sharing Economy | Accountants Bayswater | TAS

The Tax Implications Of The Sharing Economy: What You Need To Know In Australia, any income earned by a job may be considered taxable income. Those who receive their income via the sharing economy are no exception to the rule. In fact, there can be further complications that result from incorrect understandings of how the …

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Deductions for Car Related Expenses

August 4, 2023
Deductions for Car Related Expenses | Accountants Bayswater | TAS

Car Related Tax Deductions If you use your car for work, you can claim the costs associated with this – but only if you own the car you use. It is not possible for you to claim anything if your car is owned by your employer or part of your salary package. If you do …

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Tax Hot Spots

August 3, 2023
Tax Hot Spots | Accountants Bayswater | TAS

ATO Hot Spot Focus The ATO focuses every year on certain hotspots where taxpayers are prone to making mistakes – either accidentally or deliberately. What is expected to be on the ATO’s list this year? There are two main areas they will examine; work-related expenses and claims made by investment property owners. There is a …

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Why is my 2023 tax refund so low?

July 28, 2023
Why is my 2023 tax refund so low? | Accountants Bayswater | TAS

2023 Tax Return This year, things have changed and many people will receive much lower refunds than they did last year. Those who are affected by this change may be interested in knowing some of the reasons and what they can do to change it. It is possible for tax rules to change from year …

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