I’m sure we all know by now that there are certain expenses that can be claimed as a tax deduction and certain expenses that cannot be claimed as a tax deduction.

But if you happen to be unsure, the Australian Taxation Office (ATO) website has plenty of information available, or of course you can ask your trusty tax agent!

The following is a comprehensive list of particular occupations for which the ATO have released individual Tax Fact Sheets regarding the deductions which may be available:

• Adult industry workers
• Airline employees
• Australian Defence Force members
• Building and construction employees
• Business professionals
• Cleaners
• Earthmoving plant operators
• Education professionals
• Electricians
• Engineers
• Factory workers
• Fitness and sporting industry employees
• Flight attendants
• Guards and security employees
• Hairdressers
• Hospitality industry employees
• IT Professionals
• Journalists
• Lawyers
• Mechanical, automotive and electrical tradespersons
• Mechanics
• Mining site employees
• Nurses, midwives and direct carers
• Performing artists
• Plumbers
• Police officers
• Real estate industry employees
• Sales and marketing managers
• Sales representatives
• Shop assistants
• Teachers
• Travel agents
• Truck drivers

I encourage you to take a look at the fact sheet applicable to your industry if it is listed, it can make tax time so much easier for you!

And if your industry isn’t listed, don’t panic. you can use the principles of general deductions as a guideline, or as I mentioned earlier, contact your tax agent.

Regards

I’ve lost count of the number of times I’ve had to say “Pardon?” in my life…take it from me, at times, being hearing impaired sucks!

As a “young” professional businesswoman, one of the things I detest doing is admitting I have a hearing impairment.  Don’t get me wrong, there’s no shame in having a hearing impairment…but for me, it’s almost invisible…so unless I make a point of it, few people around me would even know it exists.

Hearing Awareness Week 2014 has kicked off and runs through until next Saturday 30th August.

According to www.hearingawarenessweek.org.au , hearing loss can be caused by hereditary conditions, infectious diseases, prolonged exposure to excessive noise or the effects of aging…and across the globe, 360 million people are affected. Plus, only 10-20% of those who might benefit from a hearing aid actually wear one!

Take a look at the Hearing Awareness Week website to find out What’s On this week, there’s also some fact sheets and resources your might find interesting.

If you find yourself employing or working with someone who is hearing impaired, Job Access has some great tools for workplace modification, and my key communication tips are:

• speak clearly and loudly (without shouting)
• avoid mumbling and covering your mouth when you speak
• look at the person, and
• eliminate background noise if possible

I thank you in advance for being considerate and patient

Regards

 

So very sorry if the title of this post is a little misleading…since I hope we all know there is no one key…to success?

In my mind though, one of the keys to success is to continually update your knowledge.

Whether that be professional knowledge or product knowledge…with the fast pace of the world today, it is imperative to stay up to date.

As such, I am spending this weekend at the Hilton Hotel in Sydney to attend the Reckon Annual Conference.

The program on offer is separated into two streams, one for Business Owners and one for Accountants, and with over 30 sessions to choose from, there’s a little something for everyone!

I have a number of “must attend” sessions on my list, in particular:

• automated anytime access to client data
• geek speak – tips and traps for Reckon Accounts Hosted and Reckon One
• build a future proofed accounting firm, and
• Reckon Elite update

All of the sessions I attend will increase my knowledge and ultimately help me to service my clients better…and that is always my aim!

Of course there’s the added bonus of meeting business owners and accountants from all over the country…and the nearby shopping…did someone say QVB and The Strand Arcade?

Regards

Note: this post is not sponsored by The Hilton Sydney or Reckon and is not an endorsement of either organisation, it is simply my opinion.

I’m sure we all know that the income tax we pay is collected by the Australian Taxation Office (ATO), and is subsequently forwarded to the Australian Government to be spent!

But exactly what do they spend it on?

From 1st July, 2014 all individual taxpayers will receive a Tax Receipt issued by the Australian Government.

This Tax Receipt will be received by the taxpayer with their Notice Of Assessment, and provides details on how an individual taxpayer’s income tax is contributing towards the expenditure of the Government.

The Tax Receipt also includes details of the debt levels of the Government and interest payments on this debt.

I lodged my own personal tax return recently and received my Tax Receipt in the mail this week – I was quite impressed (just confirming that I am a nerd…)

The detail included in the Tax Receipt, right down to the dollar allocations, is a great way for taxpayers to really take ownership of their contribution toward the running of this country.

Have you received your Tax Receipt?  Any thoughts?

Regards