Think your grooming costs are tax deductible because you need to look professional for work? The ATO disagrees – and they are paying close attention. We breakdown which appearance-related expenses are never deductible, what the ATO is targeting and how to stay on the right side of the rules.
Ever wondered why your tax includes charges for the Medicare levy and surcharge? Discover what they mean, who pays them, and how private health insurance impacts your liability.
Big changes are here for HELP student loans – starting with a 20% one-off balance reduction for eligible borrowers and a fairer repayment system that eases the burden on lower incomes. With indexation now tied to the lower CPI or wage growth, your student debt just got a lot more manageable.
Small business owners can breathe a little easier, with the government proposing to extend the popular $20,000 instant asset write-off until 30 June 2026. If legislated, this extension means eligible businesses can continue to immediately deduct the cost of multiple assets – each under $20,000 – for another year.
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