Accounting & tax services that keep money in your pocket.
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Personal tax rules are a shifting landscape and can be difficult to keep up with, especially if you only look at them once a year when tax season rolls by. It’s even harder to keep up with, as remote work becomes our norm and sources of assessable income become more complex, from crypto to investment properties to side hustles.
As an individual taxpayer, you want to make sure that you’re taking advantage of all the tax deductions available to you but are also staying within the boundaries of the ATO.
The team at creditte are expert personal tax accountants. We can take care of all your personal tax needs, ensure you’re claiming everything; helping you to minimise your tax and maximise your wealth.”
Besides taking care of your annual tax return the creditte team can advise you on important life decisions – buying a business, purchasing property, investments, cypto tax and more.
With online software, we’re able to take care of your tax return and accounting needs from anywhere in Australia, from Brisbane to Perth and all major regions.
Why choose us as your personal accountant
Working from home has opened up a number of tax deductions available to individuals.
Ensure you know what you can and cannot claim and how to calculate your work from home tax deductions on things like home office usage, telephone, internet, clothing and more.
With this list you’ll be able to claim everything available to you. Click to get our ‘Home Expense Deductions’ cheat sheet.
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Short answer is yes, accounting fees for individual tax payers are deductible. The ATO allows you to claim a deduction for expenses you incur when managing, preparing and lodging your tax return and activity statements.
Good question! Check out our “Is it deductible?” tax checklist.
It’s important to get good advice from an accountant and a financial planner. You may be able to claim a tax deduction for personal super contributions that you made to your super fund from your after-tax income, for example, from your bank account directly to your super fund.
Short answer, no – home renovations are not tax deductible. The Australian Taxation Office (ATO) does allow owners of income-producing properties (i.e. rental property) to claim depreciation deductions for the natural wear and tear that occurs to a building and its assets over time.
Of course you can! Check out our guide here.
If your phone, data and internet use for work is incidental and you’re not claiming more than $50 in total, you do not need to keep records.
To claim a deduction of more than $50, you need to keep records to show your work-related use. Your records need to show a four-week representative period in each income year. You can then apply this representative period to the whole income year.
Records you keep may include diary entries, including electronic records, and bills. Evidence that your employer expects you to work at home or make work-related calls from home will also help you show your entitlement to claim a deduction.
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