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Explore all articles related to: Tax Deductions

Irene Watt

How to Prepare Early for the End of Financial Year

As the end of the financial year (EOFY) approaches, it’s crucial to embark on early preparations to ensure a seamless and stress-free process. Many individuals in Australia tend to leave their tax return until the last minute, resulting in a rush and unnecessary stress. In this article, we will delve into the top ways you can prepare early for the end of the financial year.

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Irene Watt

Tax-Time Focus for Australian Taxpayers: What You Need to Know

At TaxTank, we are committed to providing the most up-to-date and accurate tax information to help individuals, property investors and sole traders make informed decisions about their tax. The ATO announced yesterday a number of key areas that they will be focusing on this tax time, including rental income, capital gains tax and work-related expenses.

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Woman sitting at home working on her small business
Irene Watt

Do you have a side hustle? The top 5 deductions sole traders need to know!

Working for yourself isn’t always as easy and glamorous as it seems. Unlike being an employee of a company, you are solely responsible for securing contracts and making sure your clients get what they need on time. That means you take 100% of the risk, but also get to reap 100% of the rewards.

To help you maximise your business success, here are the top 5 tax deductions for sole traders.

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