Posts by Clarity Taxation

Understand the ins and outs of claiming self-education expenses. Get it right and avoid tax missteps.

Thinking about going back to school or taking a new course, and hoping to claim some costs on your tax return? Well, tread carefully! There are some expense deductions that the Tax Office won’t allow. So, before you enrol or sign up for anything, pause for a moment and read this article. It could make…

One of the most common discussions around this time of the year relates to claimable tax deductions and that child care should be tax-deductible as it is an expense incurred to earn your income. This statement makes sense, but it’s not necessarily correct. According to the rules, you can claim a tax deduction for an…

Ever wondered if you’re paying the right amount of tax? Or if you’re playing your part in supporting the services we all use and rely on? It’s a tricky question that often sparks some unease. After all, tax isn’t always the most straightforward topic. Tax regulations can sometimes feel like a labyrinth – complex, constantly…

This year, the Australian Taxation Office is cautioning holiday home owners to be mindful of what they claim (and specifically when for) regarding their properties. You may need to be prepared to answer questions such as: How many days did you rent out your holiday home, and did the rent align with market values? Was…

Are your employees entitled to additional perks like a reserved parking spot, gym membership, or even a company car? These extra benefits are commonly referred to as fringe benefits, which is a different form of ‘payment’ to salary or wages. However, they come with a separate tax called fringe benefits tax (FBT), which is calculated…

Taxes. It’s a word that often triggers a sense of discomfort or frustration. In fact, some people may even go to great lengths to find ways to avoid paying taxes altogether. After all, if you earn $200,000 for the year and pay no tax on it, surely you will end up richer than the taxpayer,…

If you’re working from home, it’s important to know how you can claim deductions for the expenses you incur in order to remain tax-compliant and maximise your tax savings. Fortunately, the Australian Taxation Office (ATO) has made things easier by updating the way you can calculate and claim working from home tax deductions. Am I…

Scammers are constantly looking for new and subversive ways to trick you into giving them your money. Unfortunately, tax season is no exception. With the ATO issuing more than $51 billion in refunds in the past three tax seasons, scammers often try to impersonate trusted organisations, such as the Australian Tax Office (ATO), in order…

As a taxpayer, you might have heard of the term PAYG. But what is it exactly, and what does it mean for you? We’ll answer that and more in this article. What is PAYG? PAYG stands for Pay-As-You-Go and is a way to pay your taxes as you earn your income instead of paying the…