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Claiming protective items, equipment, and products

Personal protective equipment (PPE) To claim a deduction for personal protective equipment (PPE) you have purchased to use at work, the expense must be incurred by yourself.  A deduction cannot be claimed if your employer: pays for the items provides…

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Super opportunities from July 1, 2022

The Government first announced several big changes to super contributions for older people in the 2021/22 Federal Budget.  These included: partially removing the work test for people aged 67 to 74^, extending eligibility to make non-concessional contributions (NCCs) under the…

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Fiducian Economic July 2022 commentary

The global economy is continuing to face headwinds. In April, the International Monetary Fund (IMF) explained that ‘global economic prospects have worsened significantly’ and ‘the outlook has deteriorated largely because of Russia’s invasion of Ukraine’. More recently, the environment has…

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Crypto assets and tax

How crypto assets work Crypto assets are a digital representation of value that you can transfer, store or trade electronically.  This also includes non-fungible tokens (NFTs). Crypto generally operates independently of a central bank, authority or government.  Regardless of this…

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Business Planning Tool

The Business Planning Tool is a free web app for Victorian businesses that will assist you in setting goals, plan tasks, track your progress and learn new skills, no matter what stage your business is at. The tool provides guidance…

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Refund Fraud

While most people do the right thing, a small number of people who engage in refund fraud will be held to account by the Australian Taxation Office (ATO). Examples of refund fraud Refund fraud is when a person claims a…

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Rate rises and the effect on your cash flow

This year may see many families struggle financially. Since May this year, the RBA has lifted cash rates from 0.1% to 0.85% amid rising inflation and costs. For an increasing number of retirees who have left the workforce with mortgage…

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Is property a good investment for retirement?

Life after the nine-to-five routine can be equally exciting and intimidating, knowing that you’ll no longer receive a regular income from your employer. While relying on superannuation and the Aged Pension may have once been the norm, with an ageing…

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What information is important when preparing your Tax Return

The key areas that the Australian Taxation Office (ATO) will be focusing on when you complete your 2021-2022 Tax Return are: Recordkeeping Work-related expenses Rental property income and deductions; and Capital gains from crypto-assets, property, and shares When determining what…

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End of financial year for Small Businesses

The end of the financial year for a small business is an important time. There are many things to complete such as bookkeeping, tax returns and planning for the new financial year. Learn how to prepare for the EOFY to…

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