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Tax Strategies

Tax deductions for handbags, briefcases and satchels 

Handbags, briefcases and satchels purchased to carry items for work purposes (such as laptops, tablets, work papers or diaries) may be deductible.

Travel to co-existing work location 

Co-existing work locations travel will be tax deductible where the travel is attributable to the employee having to work in more than one place.

'Special demands travel' from home to work can be tax deductible

Where an employee undertakes 'special demands' travel between home and a regular work location, the trip will be deductible work-related travel

Save tax with a home-based business

A home-based business will be entitled to deduct a portion of their home occupancy costs, including home mortgage interest, 2.5% building write-off, rates, rent, insurance, and maintenance.

Tax Strategy - Change PSI to personal services business (PSB)

Personal services income (PSI) is income produced mainly from an individual’s skills or efforts. It’s income that has the characteristics of employment income.

Tax deductible holiday working spaces

The cost of providing holiday working spaces will be tax deductible when provided for business purposes, not a straight-out holiday for the employer.

Maximising the $1.6m Pension Cap

From 1st July 2017, the amount of capital that a member can have in the tax-free retirement (pension phase), is limited to $1.6 million.

Reduce tax on holiday travel by 50% for overseas employees

This tax strategy only applies to overseas employees working in Australia, and Australian residents working overseas. 
This tax strategy only applies to overseas employees working in Australia, and Australian residents working overseas. 

Can a Racehorse Beat the ATO?

The first tax issue to consider with owning a racehorse is whether you are operating as a hobby or a business.

Top 10 Tax Strategies for Rental Property Investors

These 10 tax strategies apply to rental property investors & produce the biggest tax savings (on average).
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