When Is the Right Time to See a Financial Adviser for Retirement Planning? Retirement is one of life’s biggest financial transitions, and planning for it can feel overwhelming. While many people wait until they’re close to retiring to seek advice, most financial experts agree: the earlier you start, the better. Why Timing Matters Retirement planning...
ATO reminder: Business expenses that can (and cannot) be claimed Taxpayers can claim a tax deduction for most business expenses, provided they meet the ATO’s three ‘golden rules’: The expense must be for business use, not for private use. If the expense is for a mix of business and private use, they can only claim...
Correctly dealing with rental property repairs Taxpayers who have had work done on their rental property should ensure the expense is categorised correctly to avoid errors when completing their tax return. A deduction for ‘repairs and maintenance’ expenses can be claimed for work done to remedy, or prevent defects, damage or deterioration from using the...