Private Health Insurance I see the commercials every year from the health funds, sign up now and save on your tax return, I am even tempted to sign up myself. However, the reality is completely different, unless your MLS income is greater than $90,000 if you are single or your
What is income protection insurance? Income protection insurance covers you for any loss of income through an illness or an accident. The insurance normally has a defined length of time for payment which typically can last from 2 years or until you’re 70. The duration of the payment is set
You have just spent a relaxing time with your family in your favourite holiday destination, and you are thinking, wow this would be an ideal place to purchase a holiday home for future vacations and as an investment for retirement. To offset the expenses of running your holiday home, your plan is to have the holiday home available for rent for most of the year and use the home for your holidays for some of the year.
How does the Australian Taxation Office deal with a situation like this, do they allow you to claim any deductions against the holiday home rental income?
Is this your first rental property or maybe you are adding to a portfolio of properties.
What information do I need to keep in respect to Capital Gains, Rental property income and
Have just completed the CanDo4Kids corporate challenge, the Amazing Race. Highland Accounting Services team, the Wombats raised $4,500 for CanDo4Kids. Aaron, Mike, Paul and myself are looking forward to participating in the 2010 corporate race
Keep your receipts throughout the year, for EVERYTHING. If unsure keep the receipt and ask your accountant if it is relevant. Keep your receipts organised and sort in to categories and total each category. If you are claiming a motor vehicle, keep a log book.
An additional tax deduction of 50% off the cost of an asset will apply; if it has a value greater than $1000 excluding GST, and is bought by a small business that has a turnover less than $2 million, and is bought between 13 December 2008 and 31 December 2009,