When reviewing the expenses you can claim as deductions on your tax return, are the fees you pay to your financial adviser among them? The answer is both yes and no! There are specific limits on what can be claimed, and the ATO has recently clarified the types of fees that individuals can claim.

In today’s sharing economy, platforms like Airbnb make it easier than ever to earn extra income by renting out a spare room or even your entire home. While this can be financially rewarding, many Australians are unaware of the tax implications that come with these arrangements. Understanding your obligations can help you avoid unexpected tax bills and penalties.

If you’re planning to upskill or undertake professional development this year, you might be eligible to claim some of your self-education expenses in your 2024–2025 income tax return.

If you're starting a business or considering switching from being a sole trader to a company, tax considerations play a vital role in choosing the right business structure. Let’s explore the key tax differences between operating as a sole trader versus a company.

Starting 1 January 2025, new incentives for Build to Rent (BTR) developments are available as part of the Federal Government’s “Homes for Australia” plan, which aims to increase the housing supply.

As a small business owner, getting your GST right is crucial, but mistakes can happen, even to the most careful among us. If you’ve realised you’ve incorrectly charged GST on a sale, don’t worry – there are steps you can take to correct it.

Many Australians have turned to self-managed super funds (SMSFs) to gain more control over their retirement planning and savings.

Claiming tax deductions on vacant land may seem straightforward, but like most things in tax, it’s not that simple. For your land to qualify as "vacant land" for tax purposes, it must meet a series of specific conditions.

In response to the rapidly changing financial landscape, the Federal Government has announced measures to secure the future of cash transactions while gradually phasing out cheques. This initiative, outlined by Treasury in November, aims to strike a balance between modernisation and inclusivity, ensuring that all Australians, regardless of their preferred payment method, remain financially integrated.

Recent changes to superannuation legislation could have an impact on your retirement planning. On 28 November 2024, both Houses of Parliament passed a bill defining the official "objective" of superannuation. This change aims to guide future superannuation policies and ensure they align with this defined objective.