February 2018 Tax Updates

Small Business Advantages:
The Australian Government is supporting small businesses through introducing the instant
write-off for eligible assets costing less than $20,000 from 12 May 2015 to 30 June 2017,
helping these businesses purchase assets and grow (this is being extended for an additional
12 months in this Budget).

Work Related Travel Expenses:
Work-related travel expenses can really add up. But at tax time, if you’re eligible, those
expenses can also boost your tax refund with some big tax deduction claims!

Tax Deductions for Retail Staff:
Putting the spotlight on tax deductions for workers in retail, Retail employees like sales
assistants, store managers, suppliers and buyers often ask us what tax deductions they
should claim on their annual tax return.

Zone Tax offsets:
What is a zone tax offset? The zone tax offset is a tax concession offset offered by the Australian
Tax Office for people who live in remote areas of Australia. This offset is to assist with the higher
cost of living, amenities and other environmental factors associated with remote living.

Overseas Forces Tax Offset:
A question we often hear from people who have worked or are working overseas in the
Australian Defense Force is: Am I eligible to receive an overseas forces tax offset when lodging
my individual tax return? The answer is YES as long as you meet certain criteria.

Redundancy:
Were you made redundant from your job? Did you get an Employment Termination Payment or
“ETP” redundancy payment? Well, you’re in good company! Redundancy can be a stressful
event and a big change – but the fact is, a huge number of Australians experience a
redundancy.

Tax Deductions for Tradies:
You can get valuable tax deductions for tradies with work-related expenses.

Airline Cabin Crew Tax Deductions:
Let’s bring our friends in the skies “up to speed” about Cabin Crew tax deductions that
you should be claiming on your tax return each year.