Are you a US Citizen in Australia?

The USA is one of very few countries who tax their citizens on their world-wide income no matter where they are living overseas. This means that US citizens who live in Australia are required to also lodge US tax returns with the Inland Revenue Service. If you are a US citizen, living in Australia, it is important to let your Australian accountant know as soon as possible as there can be unforeseen consequences from your Australian business activities if caught up under the USA IRS’s expansive rules and regulations.

Photo Courtesy of Wikimedia Commons: By James Montgomery Flagg (http://www.usscreen.com/american_spirit/) [Public domain]

in News / Personal Tax Returns / Tax Advice and Planning  by Emily Yip

Have you lodged your tax return yet?

For those who do not have a tax agent – have you lodged your tax return yet?

The clock is ticking for you to lodge your 2017 tax return!

You only have up to 31 October 2017 to lodge your 2017 tax return to the ATO without incurring a late penalty plus interest charges.

For those thinking of getting help from a tax agent, you need to get in touch with your tax agent by 31 October 2017 otherwise you will miss out the extra lodgment extension of up to May 2018!

What are you waiting for? Stop procrastinating and get moving!

If you need help with preparing and lodging your 2017 tax return, contact us!

in News / Personal Tax Returns  by Emily Yip

Rental Property Owners: What can you claim?

When investing in a rental property, or wishing to invest in a rental property, you’ll need to keep records right from the start and work out what you can and can’t claim as a deduction.

What can you claim?

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in News / Personal Tax Returns / Rental Properties / Tax Advice and Planning  by Emily Yip

Maximize your motor vehicle tax deduction

Are you always on the road for work?

Whether you are an employee or a business owner, at some point of your career you may require use of your vehicle for work/business purposes to travel between office/work sites. You may be eligible to claim your car expenses in your tax return.  But…

Have you wondered what you can do to maximise your motor vehicle tax deduction?

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in News / Personal Tax Returns  by Emily Yip