A few weeks ago, I discussed the limitations of using monetary policy – increasing interest rates – to tackle inflation. I highlighted that only 37% of Australians have mortgages, so…
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Many people are attracted to borrowing to invest in property because of negative gearing tax benefits. That is, the (income) loss that an investment property generates helps reduce the amount…
With the uncertain economic outlook, higher interest rates and cost-of-living burdens, Treasurer Jim Chalmers has handed down his second Budget on 9 May. The Treasurer has flagged the need for…
If you have a family trust that earns taxable income, there are several tax compliance matters that you must fulfil. Distributions to beneficiaries other than your spouse In 2022, the…
During the pandemic, the ATO provided taxpayers with a shortcut method for claiming work from home expense deductions (given most of us were forced to work from home). In summary,…
