Superannuation Contributions Did you know it is possible to maximize your super balance and possibly reduce your tax at the same time? Deductible Super Cap of $25,000 for everyone The tax deductible super contribution limit (or "cap") is $25,000 for all individuals under age 75. Individuals need to pass a work test if over age 67. To save tax, consider making the maximum tax deductible super contribution this year before 30 June 2021. The advantage of this strategy is that su

Businesses with an aggregated turnover of less than $5 billion can immediately deduct the business portion of the cost of eligible new depreciating assets. For businesses with a aggregated turnover of less than $50 million, temporary full expensing also applies to the business portion of eligible second-hand depreciating assets. What does this mean? If you are a business owner and you are in the market for new business equipment, now is the time to get those assets purchased

Whilst Covid-19 is largely under control in Australia, we have seen a significant change in how & where people perform their work duties. Many have continued to work from home full time or for part of their working week. This has certainly prompted many taxpayers to consider working from home expenses for the first time as they may have not had any in the past, furniture, stationary, new technology, internet and phone expenses, just to name a few. When it comes to claiming fo