May
WHAT GENERAL THINGS TO CONSIDER WHEN YOU ARE REPORTING YOUR SOLE TRADING OR PARTNERSHIP BUSINESS IN THE TAX RETURN?
While reporting for Sole Trading Business in the tax return The net income an individual receives from carrying on a business needs to be declared in the tax return. As per fact, sole trader declare...
May
WHY DO I NEED TO INCLUDE MY SPOUSE TAX RETURN DETAILS IN MY TAX RETURN?
Individual taxpayers who have spouses will get some tax benefits as per ATO. To get these benefits an individual taxpayer needs to disclose the income information of their partner. According to ATO a ...
May
WHAT IS ‘INCOME TESTS’ IN MY TAX RETURN
Income tests provide guidance about individual’s eligibility and entitlement for a number of tax offsets, benefits, and obligations that is decided by ATO and other government organisations. &nb...
May
COMMONLY USED TAX OFFSETS
Before you submit your tax return, you need to know the common tax offsets that can be claimed. Various tax offsets and rebates apply to reduce an individual's income tax. Following are some commo...
May
Tax implications on investment properties and rental property income
Investing Property Income All the profits or returns from investment usually become a part of individual’s income for tax purposes. All the expenses related to investment are tax deductible. ...
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