Tax Deductions - Understanding which expenses can be deducted and which can't
Manage episode 344073154 series 3405141
In our first episode of the new season of talkBIG, we answer one of the most common questions accountants hear during tax season: what expenses "count" as taxable deductions?
Our talkBIG hosts, Andrew, Chris, and Young, discuss the "golden rules" of managing tax deductions. Along the way, they cover the Australian Tax Office (ATO) rules surrounding:
- travel expenses
- record keeping
- COVID-19 payments
- RAT tests
- changes to superannuation
- cars
- clothes
- laundry
- education and training
- working from home
- holiday homes
- rental properties
If you've ever been unsure about what things can be deducted when doing your tax return in Australia - this episode is a must-listen!
Thanks for listening! Visit the RSM Australia website to ask the hosts a question.
章
1. Intro (00:00:00)
2. 3 Golden rules of tax deductions (00:00:32)
3. Tax impacts of COVID-19 (00:05:58)
4. Context-based taxation - why a football match is deductible for a coach but not a fan (00:08:50)
5. Superannuation changes (00:09:24)
6. Car expenses and lockdowns (00:11:43)
7. Keeping a logbook for travel deductions (00:13:42)
8. Dos and Donts of claiming clothing and laundry expenses (00:15:52)
9. Education and training - when is it deductible? (00:18:45)
10. ATO scrutiny on expenses claimed for rental properties - how to stay out of trouble (00:23:12)
11. Outro (00:29:41)
28 つのエピソード