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...
by Financially Sorted | May 30, 2024 | ATO, EOFY, Tax Returns
Every year the Australian Taxation Office (ATO) announces three key focus areas for individual income tax returns for the upcoming tax season. This year the ATO is focused on some common areas where taxpayers make errors on their income tax return: Work-related...
by kirstyb | Jul 11, 2023 | ATO, EOFY, Finance, Property Investment, Tax & Accounting, Tax Returns, Uncategorized
At Financially Sorted, we understand that navigating the complexities of tax time can be overwhelming. That’s why we’re here to help you make the most of your tax benefits and ensure compliance with the Australian Taxation Office’s (ATO) regulations....
by kirstyb | Aug 2, 2022 | EOFY, Finance, Tax & Accounting, Tax Returns
How to get the most out of your tax with our 2022 tax guide We’ve been doing a lot of work over the past few months and published many resources & tools to help you during tax time for FY2022 and throughout the year. Here is your 2022 tax guide. Find updated links...
by kirstyb | May 31, 2022 | ATO, COVID-19, EOFY, Finance, Property Investment, Tax & Accounting, Tax Returns
ATO has it’s eyes focused on these claims. There are areas the ATO is cracking down on this financial year, and bringing about greater attention to them now makes it easier to know what’s ahead. From changing work-related expenses to the sharing economy...
by kirstyb | May 31, 2022 | ATO, COVID-19, EOFY, Finance, Property Investment, Tax & Accounting, Tax Returns
There will be a comeback for income tax offsets in 2022 For Income Tax Offsets Beware – inactive amounts owed by taxpayers will be deducted from credits, starting in June 2022. Debts on hold will again to be used to offset tax refunds or credits starting this...
