If you have taken on some training or extra study to advance your career, there may be a case for claiming some of the expenses of doing so in your tax return. We spell out the common costs and expenses that the Tax Office allows under its work-related self-education definitions.
Legislation just through Parliament will see a means test applied to the private health insurance rebate, as well as an increase in the Medicare surcharge (imposed on ‘high-earning’ singles and families who have no private health cover).
Among other topics, we also look at the tax differences between contractors and employees, where tablet computer devices such as the iPad sit with regard to the FBT rules, and compare the pros and cons of corporate and individual trustee structures for SMSFs.
If you require more information regarding any of these topics, which are of necessity covered in brief terms in this newsletter, feel free to contact this office for more details.