The ATO has released new draft guidance tightening the tax rules for holiday homes, meaning many owners may no longer be able to claim deductions for holding costs like mortgage interest, rates and insurance unless the property is mainly used to produce rental income. While the change may seem technical, it signals closer scrutiny of whether holiday homes are genuinely available for rent, particularly during peak periods.

Working out the cost of electricity used to run your electric vehicle (EV) where you use the vehicle for business purposes and you use the logbook method for making your claim for car expenses is a little more complex than monitoring the cost of fuel used to run an all-petrol vehicle. You need to keep certain records and make some choices along the way. Here's some advice form us!

If you’re made redundant, you may receive a lump sum payout. While this can provide financial breathing room, it’s important to understand how that money is taxed. Not all parts of a redundancy payment are taxed the same and how it is taxed can make a big difference to what you actually take home.

If you run a small business and sell it – or some of its asset(s) – and make a capital gain, the CGT “retirement exemption” may be invaluable to reduce or eliminate the tax payable on the gain. The funny thing is that you don’t have to retire to use the CGT retirement exemption. 

Boosting your career with the right study can pay off—not just in skills, but also at tax time. If your course directly relates to your current job or helps increase your income, you may be able to claim expenses like fees, books, travel, and even accommodation. Unsure what’s deductible? Pointax can guide you through the fine print so you don’t miss out.

Want to figure out the tax deductibility of clothing? Read this article to find out!

Wondering if your beneficiaries will pay tax on your superannuation death benefits? The answer is it depends on a number of important...