Quick facts You can claim parking on your tax return if you are using it for work purposes. Eligible parking expenses are for business trips, visiting clients or suppliers and commuting to different work locations. The amount you can claim varies depending on the vehicle and duration of the trip. Keep records and receipts for […]
What is a Spouse for Tax Purposes in Australia Knowing what a spouse for tax purposes is important for tax purposes in Australia. For tax purposes a spouse is a legally married partner, a partner in a registered relationship or a partner living together in a genuine domestic arrangement. This affects deductions, liabilities and various […]
Accountant vs Financial Advisor: What’s the Difference and How to Choose Key Takeaways Roles Defined: Accountants primarily manage financial statements, taxes, and compliance, while financial advisors focus on wealth management, investment strategies, and guiding clients toward their financial goals. Services Offered: Accountants provide detailed financial record-keeping and reporting, ensuring that all legal obligations are […]
How Long to Keep Tax Records in Australia Key Highlights In Australia, it's not just a smart move but also a rule to keep your tax records straight. The Australian Taxation Office (ATO) sets the minimum time you need to hold onto these records. For businesses and individual taxpayers alike, this period is usually […]
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