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They say there’s nothing quite like a parent’s love. Well, perhaps except for a parent’s love plus an extra $40,000 to help buy your first home. Today we’ll look at the pros and cons of family support – plus other ways to buy a first home that give mum and dad a break. Saving a...

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Nicole Kidman and Keith Urban are making headlines, having reportedly called time on their 19-year marriage. If you’re also facing a relationship break-up, it’s important to know where you stand on practical issues, such as how to hold onto the family home, if that’s your goal. While Keith and Nicole are likely to have a...

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The clock is ticking towards the festive season, and home buyers still have a small window of opportunity to be settled in their new place by Christmas Day. The good news is that a broker can help you get there. A quick visit to the supermarket shows that shelves are already stocked with festive fare...

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In a recent decision, the Administrative Review Tribunal (‘ART’) held that a taxpayer could not claim a tax deduction for medical expenses incurred by him in relation to his total and permanent disability pension. The taxpayer had been terminated from his employment due to total and permanent disablement (‘TPD’).  For the 2024 income year, his...

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The ATO is seeing sole traders make mistakes in the following areas: not reporting all income — this includes income earned outside their business (like a ‘side hustle’), cash jobs, or payments in-kind/barter deals; overclaiming expenses — this includes claiming the portion of an expense related to personal use, or overstating the cost of goods...

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Taxpayers who have had work done on their rental property should ensure the expense is categorised correctly to avoid errors when completing their tax return. A deduction for ‘repairs and maintenance’ expenses can be claimed for work done to remedy, or prevent defects, damage or deterioration from using the property to earn income.  These expenses...

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