Accounting Manager, Natasha Guarino tells us her tips for individuals for tax time.
Modoras Executive Planner Katerina Sousalis shares her top tax tips for individuals.
Watch Accounting Manager, Natasha Guarino as she reveals her top business tip for tax time.
Are there any other tax tips I should be considering?
Claiming car-related expenses using the logbook method during COVID-19
Can I claim a deduction for gloves, face masks, sanitiser, anti-bacterial spray that I use at work due to COVID-19?
Can I claim for my rent or mortgage and will this affect capital gains tax if I sell my house?
My tenants have temporarily stopped paying rent because their income has been adversely affected by COVID-19. Can I still claim deductions on my rental property expenses?
I'd like to stop paying for advertising on my short-term rental property during COVID-19. Can I still claim deductions associated with holding the property?
I'm using my holiday home privately for myself during COVID-19. Can I continue to claim deductions for the property for this period, as I am unable to rent the property commercially?
I have maxed out my concessional contributions. How else can I get a tax deduction using super strategies?
I only paid $10,000 into super last year but have contributed $25,000 this financial year. Can I get any more tax deductions?
Should I take the additional $10k from super post 30 June? What’s the potential impact? If I have taken the first $10k, how do I catch up?
Under the COVID-19 early release of super arrangements, can I make more than one application in the same financial year as long as I don't withdraw more than $10,000 in total in either the 2019-20 or 2020-21 financial years?
I’ve had my hours cut back at work and I can’t afford to pay the bills. What assistance is available to me? And what is the impact of withdrawing super?
My income has decreased due to the downturn in the economy and I can’t afford to pay my expenses. Can I access my super?
IMPORTANT INFORMATION: The information on this page was prepared on Monday 15 June 2020. The accounting information on this page has been prepared by Modoras Accounting (QLD) Pty Ltd ABN 81 601 145 215, Modoras Accounting (SYD) Pty Ltd ABN 18 622 475 521 and Modoras Accounting (VIC) Pty. Ltd. ACN 145 368 850. The financial planning information on this page has been prepared by Modoras Pty. Ltd. ABN 86 068 034 908 an Australian Financial Services and Credit Licences (No. 233209), located at Level 3, 50-56 Sanders St, Upper Mt Gravatt Q 4122. The information and opinions contained on this page are general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals personal circumstances have been taken into consideration for the preparation of this material. Any individual making a decision to act on an accounting or wealth strategy, should make their own assessment taking into account their own particular circumstances. The information and opinions herein do not constitute any recommendation to implement and particular strategy. Modoras Pty. Ltd., Modoras Accounting (QLD) Pty. Ltd., Modoras Accounting (SYD) Pty. Ltd. and Modoras Accounting (VIC) Pty Ltd recommends that no financial product or service be acquired or disposed of and no financial or accounting strategy adopted without first obtaining professional personal advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained on this page can change without notice. Modoras Pty. Ltd., Modoras Accounting (QLD) Pty. Ltd., Modoras Accounting (SYD) Pty. Ltd. and Modoras Accounting (VIC) Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within. Modoras Pty. Ltd., Modoras Accounting (QLD) Pty. Ltd., Modoras Accounting (SYD) Pty. Ltd. and Modoras Accounting (VIC) Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication.