Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value may need to be determined.
Getting a tax valuation from the ATO
![Personal Tax](https://tnr.com.au/wp-content/uploads/2021/02/Personal-Tax-1024x275.jpg)
Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value may need to be determined.
The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021.
Each year in early May, the Treasurer delivers the Federal Budget and many people across Australia listen intently. The Budget tells us how the government plans to spend its revenue in the coming year, whether it can afford to give us tax cuts, and whether it expects to spend more (creating a deficit) or less
The ATO has announced that it has identified some common errors regarding luxury car tax (LCT) claims, but also says there are issues it has identified with LCT that are more associated with actively trying to pay less tax than required.
Property is a popular investment asset that contains a number of significant advantages including income generation, capital growth, resistance to major market downturns and substantial tax deductions.
The ATO has devised special rounding conventions where an amount of GST includes a fraction of a cent.
Interest is a common deduction claimed by taxpayers. Generally, interest is seen as being inherently deductible where it is incurred in gaining or producing assessable income.