Record-keeping can make or break your ATO compliance during tax time. Regardless of your business type or its size, there are several benefits and expenses you can claim. However, you can end up in hot water if these claims can’t be justified in writing. Getting...
Fewer Australians are relying on credit cards, and if you’re planning to apply for a home loan, that shift could work in your favour. Reserve Bank of Australia (RBA) figures show the number of personal credit cards in circulation fell to a new low of around...
An offset account is a transaction account linked to your home loan. The money sitting in the offset account is used to reduce the loan balance that interest is calculated on. For example, if you have a $500,000 home loan and $20,000 in an offset account, you may only...
Fuel tax credits can help reduce some of the cost of fuel as a business expense, but only when claims are calculated correctly and supported by proper records. The Australian Taxation Office has warned that many businesses are still getting fuel tax credit claims...
If you are building a new home, the loan structure will usually work differently from a standard home loan. A standard home loan is generally used to buy an existing or completed property, with the loan funds released at settlement. A construction loan is designed for...
