tax return Archives - Shakespeare Financial Services

Why is my tax refund so small?

Shakespeare Partners — Thu, 10 Aug 2023 03:55:19 +0000

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The 120% Deduction for Skills Training and Technology Costs

Tony Da Silva — Fri, 27 May 2022 02:23:37 +0000

It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the deduction. But, there are a few […]

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Tax return income and deductions checklist

Kath — Wed, 17 Jul 2019 07:41:55 +0000

17 July 2019 As tax time rolls around again, it’s important to understand what you need to declare as income, and what you can claim as tax deductions. Below is a list of items that you may need to consider, depending on your individual circumstances. Income It’s important to declare all forms of income on […]

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When to claim home office tax deductions

Kath — Wed, 17 Jul 2019 01:14:50 +0000

17 July 2019 If you perform some of your work from home, you may be eligible to claim home office tax deductions, even if the room is not set aside solely for work-related purposes. Home office tax deductions may be claimed for expenses that fall into the following categories: Home office running expenses relating to […]

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Rental property tax deductions

Kath — Tue, 16 Jul 2019 05:53:26 +0000

16 July 2019 If you’re one of the many Australians who own an investment property, now is the time to take stock of your incurred expenses and work out what you can claim as a rental property tax deduction, and what you need to declare as income. Income First and foremost, you will need to […]

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Low and Middle Income Tax Offset

Kath — Mon, 15 Jul 2019 06:34:41 +0000

15 July 2019 The Federal Government’s Personal Income Tax Plan has now become law, delivering tax relief for millions of Australians. The plan has three phases Phase one is the Low and Middle Income Tax Offset (LMITO) Increase the LMITO from a maximum amount of $530 to $1,080 per annum and increase the base amount […]

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