by Team Garnet | Sep 16, 2022 | Investments
If you earn income from an investment property, you may be entitled to a deduction for expenses directly incurred in taking out a loan for the property. Have you considered what this means for you and your investment property? Let’s start at the beginning and...
by Team Garnet | Aug 10, 2022 | Garnet Business Services, Tax News
ATO is again focusing on income and deductions this tax time for rental properties. Just as with previous income years, tax time 2022 is no different, the ATO has again cited rental property income and deductions as one of the 4 key focus areas, along with...
by Team Garnet | Jun 30, 2022 | Small Business, Tax News
Small business owners beware, the ATO is again putting the appropriateness of deductions and omission of business income under the microscope this tax time. During this tax time, the ATO has once again reminded small businesses of their tax obligations and highlighted...
by Team Garnet | Jun 22, 2022 | Business Structures, Small Business, Tax News
You are legally required to keep records of all transactions relating to your tax and superannuation affairs. Failing to keep correct records can have financial consequences. You are legally required to keep records of all transactions relating to your tax and...
by Team Garnet | May 26, 2022 | Capital Gains, Tax News
2022 Tax time is fast approaching, and this financial year, the ATO will again be focusing on a few key areas to ensure that individuals are doing the right thing and paying the right amount of tax. These key areas are considered by the ATO to be problem areas where...
