COVID-19 work-from-home expense

COVID-19 work-from-home expense

Temporary arrangements have been put in place by the ATO for people working from home due to the coronavirus crisis.  Taxpayers working from home may now claim a rate of 80 cents per hour and will only be required to keep a record of the number of hours they have...
Accrued Directors’ Fees

Accrued Directors’ Fees

Accruing directors’ fees is a tax deferral strategy as the company receives a tax deduction in one financial year, but the related party (directors), are not taxed on the income till the following financial year. A company is entitled to claim a deduction in one...