When it comes to retirement planning, there’s no shortage of advice — from rules of thumb like “you’ll need 70% of your pre-retirement income” to blanket strategies about when to downsize or how to invest. While these can be helpful starting points, the reality is that no two retirements look the same. Trying to apply…
If you own a rental property, there’s a good chance you’re claiming interest expenses as part of your tax deductions. It’s one of the most common (and often one of the largest) claims for landlords. But there’s a catch – you can only claim interest to the extent that it relates to earning assessable rental…
If your business pays contractors to provide certain services on your behalf, you may be required to lodge a Taxable Payments Annual Report (TPAR). The TPAR is part of the ATO’s efforts to ensure fairness in the business community by making sure all contractors report their income accurately. If you’re unsure whether it applies to…
