Dec 3, 2021 | Capital Gains Tax, COVID-19, Taxation
QUESTION Since March 2020 and during the COVID-19 pandemic, a client spent 16 months living in a home he owns in rural Victoria in order to attend to business interests he has there. During this time, his wife continued to live in their Melbourne home (where they...
Oct 22, 2021 | Investment Property, Superannuation, Taxation
One of TSP’s long term clients, aged 65 and retired, came to TSP for some advice relating to the sale of an investment property. The property had been owned for over 10 years with capital gains tax required upon its sale. TSP immediately conducted several...
Aug 13, 2021 | COVID-19, Taxation
Most people would think that money provided by the Government to support people and business during a crisis would be tax free? Otherwise, it’s like giving money with one hand and then taking it away with the other, isn’t it? But, the tax laws don’t work like that. To...
Jul 30, 2021 | COVID-19, Employers, Taxation
If you worked from home during lockdown and spent money on work related items that were not reimbursed by your employer, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed. If you are claiming your...
Jun 1, 2021 | Superannuation, Taxation
The end of the 2020/21 financial year is fast approaching and with company tax rates for eligible small businesses to reduce from 26% to 25% there is an additional incentive to undertake some tax planning before it is too late. With eleven months of the financial year...
