Archives for November 2015

Investing

Profits or returns you make on your investments usually become part of your income for tax purposes. Many expenses relating to your investment are tax deductible — for example, interest on money you borrow to buy shares. Australian residents for tax purposes are taxed on their worldwide income, so whether you have investments in Australia or [Read more…]

Are You Eligible to Claim Self Education Expenses?

Your current employment and the course you undertake must have sufficient connection for your self-education expenses to qualify as a work-related tax deduction. If a course of study is too general in terms of your current income-earning activities, the necessary connection between the self-education expense and your income-earning activity does not exist.   A tax [Read more…]

Capital gains tax checklist

  The following questions will help you to identify possible capital gains tax (CGT) obligations. If you answer ‘yes’ to any of these questions, CGT may apply. Some questions are intended to highlight the possibility of a capital gain or loss arising in the current year, others to alert you to the possibility of a [Read more…]