MAS Tax Accountants CBD Melbourne in Docklands, Victoria | Financial service

MAS Tax Accountants CBD Melbourne

Locality: Docklands, Victoria

Phone: +61 3 9020 2777

Address: 600 Lonsdale St 3000 Docklands, VIC, Australia

Website: http://www.mastaxmelbourne.com.au

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23.01.2022 Employees can claim tax deductions for the cost of clothing, if it is protective in nature including safety boots and sun protection (TR 2003/16) a compulsory uniform, such as a corporate uniform with the companys logo a non-compulsory uniform which is registered by the employer with Ausindustry occupationally specific, such as the clothing worn by chefs and nurses, but according to the tax office, not waiters.

18.01.2022 Do you know how the Medicare levy surcharge works???? Individuals and families on incomes above the Medicare levy surcharge thresholds, who do not have an appropriate level of private patient hospital cover, may be required to pay Medicare levy surcharge for any period during the year that they did not have this cover. Medicare levy exemption... You may qualify for an exemption from paying the Medicare levy if you were in any of the following three exemption categories at any time in the year.These categories are: Category 1 - medical, which applies to people such as blind pensioners Category 2 - foreign residents and residents of Norfolk Island Category 3 - people not entitled to Medicare benefits and who have obtained a Medicare levy exemption certificate from Medicare Australia.

16.01.2022 Happy travels but super has to stay put Read more: http://www.theage.com.au//happy-travels-but-super-has-to-s

16.01.2022 "What Is Capital Gains Tax: CGT applies generally to net gains made on disposal of capital assets, where the amount receivable is greater than the costs, and reduced by any capital losses."

12.01.2022 TOPIC RELATED TO FOREIGN RESIDENT If you are a foreign resident of Australia, you only need to lodge a tax return if you have income that is taxable in Australia. This excludes any income from which non-resident withholding tax has been deducted. Examples of income that may be subject to non-resident withholding tax are bank interest and unfranked dividends. The Australian tax year ends on 30 June. You should lodge your tax return by 31 October, unless you have been granted a...n extension to lodge at a later date. You will have to pay more tax if you didnt pay enough while you were working. If too much tax was withheld from your pay, you will get a refund. Foreign residents of Australia are not required to pay the Medicare levy, so you can claim the number of days that you are not an Australian resident during a tax year in your return as exempt days.

11.01.2022 Breaking News states "Nearly one quarter of Australian mortgage holders are considering refinancing their current loan, with cost the major driver for the decision, according to a recent Mortgage Choice survey. Of the 24% of respondents who were considering refinancing their current home loan, 36% of these have had their home loan for four years of less Regarding the reasons given for the desire to refinance, cost was by far the biggest motivator, more than the ability to ac...cess additional funds or a preference for fixed or variable rate options, says Mortgage Choice head of corporate affairs, Belinda WIlliamson. Of those considering refinancing their current home loan, 45% of respondents said they would do so to switch to a cheaper loan, with cheaper defined as a combination of a lower interest rate, fees and charges. Other reasons given for refinancing were also connected to cost-cutting, with 22% of respondents saying they were considering refinancing to lower their repayment level, 21% were looking at consolidating their debts and 19% wanted to lower their fees (including redraw, offset account and annual fees). Rounding out the top five responses was to have better loan features available to me, at 14% of respondents. While cost was clearly top of mind for mortgage holders, it was great to also see some homeowners looking at refinancing to improve their lifestyle. For example, 14% of respondents were considering refinancing to access additional funds for a renovation while 10% were looking at doing so to get access to funds for an investment property purchase. At the same time, 13% were motivated by the promise of having more money for other reasons such as a holiday, says Williamson. When refinancing, 62% of respondents said they would consider changing both loan product and lender while 38% said they would stay with the same lender, but switch loan product. The majority of respondents said they would consider choosing a major bank, followed by a credit union and a building society."

09.01.2022 Income Protection Insurance premiums are generally income tax deductible in Australia under the provisions which allow deductions for expenses incurred in earning assessable income.

09.01.2022 "Capital Gains Tax On Home - In general, there is no capital gains tax on the sale of your main residence. However there are a number of qualifying conditions, and in some situations only a partial exemption applies."

06.01.2022 Flood Levy.., its gone. The Flood Levy was a 1-year only measure for the 2011-12 tax year.

02.01.2022 "Tax deductions for Home Office expenses can be claimed if your home is a place of business, or if it is used for income earning activities. If your home is not a place of business, then your claims are restricted to running expenses only. This may include a portion of your heating, lighting, and telephone, and depreciation of equipment." today news

01.01.2022 "A work-related car expense claim is a tax deduction in relation to a car which is used for business or income producing purposes. Generally, eligible cars must be owned (including under finance) or leased. Motor cycles, taxis on hire or non-continuous car rentals are not covered by these rules."