Blog

View a selection of articles and blog posts by Trak Accounting.

Essentials for Business Start-ups
November 09, 2015
THIS EVENT IS NOW SOLD OUT. SIGN UP TO OUR NEWSLETTER TO MAKE SURE YOU DON’T MISS OUT NEXT TIME! Are you thinking of starting a business or have a fairly new business? Confused about all the details you need to get across to run it properly? We’ve handpicked five local Read More »
Builders beware: ATO closing the primary place of residence loophole
October 11, 2015
A popular method of avoiding taxation in the past has been to buy a property, build or renovate, live in the residence for twelve months (satisfying the appearance of ‘primary place of residence’), then selling the property – and buying another property to repeat the cycle. This takes advantage Read More »
Tax relief for parents with children suffering behavioural disorders
October 11, 2015
If you have a child with a behavioural disorder, then a little-known ATO tax incentive might be available to you. The Medical Expenses tax offset allows taxpayers to claim deductions on net medical expenses – in other words, the expenses paid out-of-pocket after Medicare and health fund refunds – Read More »
$20k Tax Break for Businesses is now even better!
September 23, 2015
Businesses have always been able to use depreciating assets as tax deductions. However, the government has now simplified the rules so that it’s easier for small businesses to take advantage of these deductions. They’ve made it possible for small businesses to write off depreciating assets in one fell swoop, rather than Read More »
Should you declare income when renting rooms in your home?
September 23, 2015
A popular method of avoiding taxation in the past has been to buy a property, build or renovate, live in the residence for twelve months (satisfying the appearance of ‘primary place of residence’), then selling the property – and buying another property to repeat the cycle. This takes advantage Read More »
FIFO Workers – Will You be Sweating Under ATO’s Spotlight this Year?
August 22, 2015
Amongst the Australian Tax Office’s targets this year are work-related deductions – especially relating to fly-in-fly-out (FIFO) workers. So how can you avoid getting caught in the net? The obvious answer is to not to do the wrong thing. Well, that’s always a good start – but the rules around Read More »
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