Tax – GQ Tax

Budget Summary 2023-2023

Hi Folks, Here is a quick summary of last night’s budget, focussing on the matters that affect individual taxpayers and small businesses. If you would like to discuss any of the items described below, please feel free to get in touch with me. Individual Taxpayers Small Business Other Measures

Welcome to the New Tax Year

So July is here once again and we have finished the 2021-2022 tax year, time to start preparing for your tax return. Below are tax time guides for different occupations and common deductions that can apply to those occupations. These can help you prepare your return. If you can’t see your occupation here, please contactContinue reading “Welcome to the New Tax Year”

Covid 19 Test Tax Deduction

From 1 July 2021 employees, sole traders and contractors may be able to claim the cost of Covid-19 testing. You would need to meet the following criteria: You used the test to determine if you can attend or remain at work. The brand and type of test was registered for use in Australia. You paidContinue reading “Covid 19 Test Tax Deduction”

Employee travel expenses TR 2021/4

2021-2022 Budget Summary

On Tuesday, 11 May 2021, Treasurer Josh Frydenberg handed down the 2021-22 Federal Budget, his 3rd Budget. The major tax-related measures announced in the Budget included: Personal tax rates – no changes were made to personal tax rates, the Government having already brought forward the Stage 2 tax rates to 1 July 2020. The StageContinue reading “2021-2022 Budget Summary”

Covid-19 Stimulus Voucher Scheme

The State government of NSW is launching its Dine & Discover voucher scheme in March. Every NSW resident will be given 2 x $25 vouchers to use at dining venues and 2 x $25 vouchers to be used for entertainment and recreation. You will be able to access your vouchers via the Service NSW appContinue reading “Covid-19 Stimulus Voucher Scheme”

The Rental Property Deductions You Might Be Missing Out On!

If you purchase or own a rental property, there are some large deductions you are able to claim against the income from this rental property that you might be missing out on. This guide gives a brief explanation of the rules and eligibility for both the Capital Works (construction) and Capital Allowances (depreciating assets) deductions.Continue reading “The Rental Property Deductions You Might Be Missing Out On!”

Back to School, what deductions can teachers claim?

Teachers and students have all headed back to the classroom for the 2021 school year, I thought I would do a blog post detailing the top 10 deductions teachers can claim on their tax, and the top 5 things most teachers shouldn’t be claiming! As always, this post doesn’t take your personal circumstances into account.Continue reading “Back to School, what deductions can teachers claim?”

Budget 2020-2021

Here is a simple, jargon free summary of the budget measures that affect individuals and small businesses: Individuals Tax Cuts Tax cuts that were due to come into effect in 2022 have been brought forward to 1 July 2020. How much you will save depends on your level of income: Income Tax Savings $25,000 $245Continue reading “Budget 2020-2021”

30% Discount Bushfire & Covid-19 Frontline Heroes

Thanks to our bushfire and Covid-19 heroes! Discount is available to employees and businesses in; health care, aged care, emergency services, RFS volunteers, ADF personnel including reserves, hygiene services, food supply and essential retail. Terms and Conditions Offer available to all employees in the listed industries (eg. admin staff working in a hospital would beContinue reading “30% Discount Bushfire & Covid-19 Frontline Heroes”