by Financially Sorted | Jun 30, 2025 | EOFY, Property Investment
As end of financial year approaches, Australian property investors must finalise their tax returns, encompassing individual and business obligations based on their structure. To maximise tax benefits, property investors should ensure all eligible deductions are...
by Financially Sorted | Jun 30, 2025 | ATO, EOFY, Tax Returns
Reduce your tax exposure. Maximise opportunities. Reduce your risk of audit. With the end of the financial year fast approaching, this update will help you with these end of financial year goals. What’s new 1. Medicare levy low-income threshold The Medicare levy...
by Financially Sorted | Jun 11, 2025 | ATO, EOFY, Tax & Accounting, Tax Returns
One of the most-claimed work-related expenses each year is a working from home deduction, especially in the last few years. In 2024, more than 10 million people claimed a work-related deduction, and many of those claimed a deduction related to working from home. As...
by Financially Sorted | Jun 11, 2025 | ATO, Business, EOFY, Small Business, Tax & Accounting, Tax Returns
Year-end Tax Planning Opportunities & Risks for Individuals & Businesses With the end of the financial year fast approaching, we outline some opportunities to maximise your deductions and give you the low down on areas at risk of increased ATO scrutiny. For...
by Financially Sorted | Jun 1, 2025 | ATO, EOFY, Tax Returns
The ATO has revealed a list of “unbelievable” tax deduction attempts to remind taxpayers that their air fryer purchase “generally won’t make the cut”. With its priority list for the fast-approaching tax time, the ATO has reminded taxpayers that its role is to collect...
by Financially Sorted | May 30, 2024 | ATO, EOFY, Property Investment, Tax Returns
The Australian Taxation Office (ATO) are looking closely at expenses related to rental property including interest apportionment for private expenditure, depreciation for initial repairs and other capital deductions, and borrowing expenses. Avoiding these common...
