nicolemcmilllon » user profile

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Member Since 19/10/2016
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Location Sydney
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Is there a discounted full sized one available ?
27/07/2020 - 08:42
There is no tax deduction for either way you do it because the rental property won't be "available for rent" at the time of the reno and it...
27/07/2020 - 08:36
Are you staying overseas and coming back here or are you a foreign resident trying to do their Australian tax return because you have...
22/07/2020 - 13:04
Should be fine, as long as you have dividends income in your tax return of more than $1,000. Claim it in the dividends deduction section.
22/07/2020 - 09:13
Don't use the ones at a shopping centre. You don't know if they are real registered agents or if your data is safe. When using an agent you...
21/07/2020 - 09:27
There is no maximum amount, but Ideally you would have included the loss in your return from the year you incurred the loss and it would...
20/07/2020 - 09:03
Generally it is 5 years. If its an asset, then it should be 5 years from the last time you claim depreciation. So if you bought the asset...
19/07/2020 - 22:40
Yes that should be enough as you are using the cents per km method and not the log book method.
19/07/2020 - 22:38
Can't claim the full $160 only $96 as that is the percentage of time the asset is used for work purposes.
19/07/2020 - 22:37
Youu can do it yourself on MyGov but you may want to see an accountant. The going rate at our firm is around $150 which will be deductible...
19/07/2020 - 22:35
i'll do my best to answer some of these, you should be going to a tax agent to do your return. it should only be <$120 for a simple return....
17/07/2020 - 16:12
Did you make the payment prior to 30 June?
17/07/2020 - 12:59
Sorry i thought it was a given that he had already contributed the money prior to 30 June 2020. The way I interpreted the question was that...
17/07/2020 - 12:58
Still necessary to depreciate. In my personal opinion if its $350 bucks its not gonna matter, just claim the $175 deduction. Your tax...
17/07/2020 - 12:10
Shouldn't be a problem mate.
16/07/2020 - 17:18
How big is the 2014 capital loss? Under a couple grand?
16/07/2020 - 16:53
I wouldn't lose too much sleep over it. Just include the loss in your calculation for your 2020 capital gains/losses as a prior year loss.
16/07/2020 - 16:30
1. Unfortunately you're not supposed to. You should be depreciating it over its effective life. 2. Usually no. However I assume you bought...
16/07/2020 - 16:16
In a nutshell yes. There are things that can reduce your purchase price depending on what asset it is, such as capital returns and AMIT...
16/07/2020 - 11:35
Yes, you have to do it before your tax return is lodged or due to be lodged. So find the due date of your return and send in the notice. Be...
16/07/2020 - 11:34
Yes its annoying for some of them. Just have to persist until they apply it. Once you get the boost for march the june and sep ones should...
15/07/2020 - 23:03
If you are getting taxed on the 1,000 car allowance then its not pre tax. Its a normal allowance. And yes use the log book method it will...
15/07/2020 - 11:26
No. there is no expense incurred by the Trust. the trust can rent out a portion of the property for work to be performed, but then the...
15/07/2020 - 09:44
the trust can't claim occupancy expenses for a property it does not own
15/07/2020 - 09:26
Is the property owned by an individual? If so, claiming occupancy expenses will mean you can't claim the main residence exemption when the...
15/07/2020 - 09:10
how can the allowance be pre tax and yet still taxed and included in addition to your monthly salary? If it is pre tax then it is a salary...
15/07/2020 - 08:26
Data matching is getting better and better each year. Not declaring income is definitely not a good idea.
15/07/2020 - 08:23
They may not want to pay their accountant for advice or may want to get a wide variety of answers first. In my experience most of the tax...
15/07/2020 - 08:22
I think its fine, nothing to worry about. Ideally you would have to stop claiming depreciation on it but they won't pull you up on...
15/07/2020 - 08:21
Hi everyone, I receive plenty of private messages with very similar tax questions so I thought I would compile a list of basic tax tips...
14/07/2020 - 21:16