Join Australia's most dynamic and respected property investment community

ATO - Tax Time Videos

Discussion in 'Accounting & Tax' started by Redwing, 6th Jul, 2015.

  1. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    839
    Location:
    WA
    Tax time: ATO on whether you can claim a deduction for your phone or computer usage.



    Tax time: Get your deductions right



    Tax time:Transporting bulky tools and equipment



    Introduction to rental property and tax



    And another one of interest and oft asked

    What is business real property and can your SMSF invest in it?

     
  2. Rixter

    Rixter Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    572
    Location:
    Portfolio Perth Brisbane Sydney Melbourne
    Thanks for posting Redwing..
     
  3. Investig8

    Investig8 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    109
    Location:
    Central Coast
    Solid resource, nice one Redwing. We should have a resources page on a sticky somewhere which is curated with the best possible, latest info.
     
  4. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,400
    Location:
    Sydney
    Tip the ATO doesn't tell you......

    The substantiation rules say you must have receipts. It doesn't say the receipt must prove that the cost was incurred in earning your income. Lets use stationery as an example. How do you prove you used it for work ?
    No they don't ask that. Just the requirement to have receipts.

    Think about it....Your deductions may increase as a result.
     
  5. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,400
    Location:
    Sydney
    The ATO are masters at scaring taxpayers off claiming legally permitted deductions through onerous rules. The "diary issue" with tablets and mobiles is a great example. How does that work ?? You may use it 90% of the time from browsing and then download three files that chew up all the data in one day....How does a diary help. Sending 40 text messages v's 300 work email on a capped plan ???

    I have the dispute with them for every client they check and they always concede there are exceptions....But they don't say this in their video's.