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Tag Archives: Tax
Removing the Hassle of a Shoebox Full of Receipts
Australian taxpayers will be able to claim a $500 standard income tax deduction, without receipts, instead of going to the hassle of using receipts to claim work-related expenses and the cost of managing their tax affairs. Assistant Treasurer Bill Shorten … Continue reading
Non-commercial losses
If you have a net loss from a business activity you carry on as an individual, either as a sole trader or in partnership, the non-commercial loss rules will apply. These rules determine whether you can use your business loss … Continue reading
Henry tax review to examine company tax reduction
In a recent speech, Dr Ken Henry discussed some progress of the review into the tax system. Some of the points he raised included: • the review panel needs to seriously consider the merits of a reduction in the company … Continue reading
