The right way to claim a tax loss

By Roger 12 October 2021Business, Can and Cannot, Company, Deductions, Expenses, income, Loss, Record-Keeping, Tax Loss, Tax Tips

Generally, you make a tax loss when your business expenses are more than your income. If you make a tax loss, you may be able to: claim it in the…

Use your home as your main place of business

By Roger 11 October 2021Bookkeeping, Business, Home business, Home Office, WFH, Work from Home

If you’re a sole trader or operate your business as a partnership, you may be able to claim some running expenses if your home is your main place of…

Paid contractors? Don’t forget your TPAR – due on 28 August

By Roger 8 October 2021Bookkeeping, building, Business, cleaning, Company, construction, Contractor, Highlights, information technology, subcontractor, Tax Tips, Taxable payments annual report, TPAR

What is TPAR If you have contracted out more services in the past year. This could mean you need to lodge a Taxable payments annual report (TPAR) for the first time. TPARs…

Basic Cryptocurrency Tax Implications

By Roger 25 July 2021Business, Assets, Bookkeeping, CGT, Cryptocurrencies, Cryptocurrency, Cryptocurrency tax, Record-Keeping

Do you have any cryptocurrencies? What should be reported when you sell? What about I am a day trader? Should I look at Cryptocurrency Tax Implications? Does the ATO know?…