Budget 2023-24
The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years driven by a range of factors.
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Collins Hume
- Mar 13
Claiming deductions on holiday homes
The ATO has published a range of starter questions they will be asking to scrutinise claims on holiday homes.
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Collins Hume
- Mar 8
Collins Hume Update Autumn 2023
It's our birthday month — thanks to all our clients who choose Collins Hume to help them in business and in life!
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Collins Hume
- Mar 6
Updated working from home methods
The ATO has ‘refreshed’ the way deductions for the costs incurred when working from home are claimed.
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Collins Hume
- Jan 16
Taxing fame
The ATO has taken a u-turn on how fame and image should be taxed.
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Collins Hume
- Oct 26, 2022
2022-23 Budget 2.0
Read our summary about the Budget's practical tax implications for individuals, small businesses and superannuation.
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Collins Hume
- Oct 4, 2022
120% deduction for skills training and technology costs
The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium businesses.
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Collins Hume
- Aug 29, 2022
Can I claim my crypto losses?
The ATO has released updated information on claiming cryptocurrency losses and gains in your tax return.
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Collins Hume
- Jul 4, 2022
Capital gains from crypto, property or other assets
If you dispose of an asset eg property, shares, crypto or NFTs, or collectables you'll need to show a capital gain/loss in your tax return.
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Collins Hume
- Jun 27, 2022
Claiming work-related expenses
When claiming WRE there must be a nexus between the expenses you are claiming and how you earn your income. We explain.
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Collins Hume
- Jun 24, 2022
Tax Time Targets — Recordkeeping
With tax season upon us the ATO has revealed its four areas of focus this tax season. We start with recordkeeping requirements.
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Collins Hume
- Jun 14, 2022
Deduction for skills training and technology
We clear the confusion (as much as possible) on the 120% deduction for skills training and technology announced in the Federal Budget.
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Collins Hume
- May 23, 2022
Can I claim a tax deduction for my gym membership?
Can you claim a deduction for your gym membership? The administrative appeals tribunal clarifies.
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Collins Hume
- Apr 26, 2022
COVID-19 tests now tax-deductible for employees
From 1 July 2021 employees, sole traders or contractors that pay for a COVID-19 test for a work-related purpose, can claim a deduction.
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Collins Hume
- Mar 28, 2022
Immediate Deductions Extended
This measure enables an asset’s cost to be fully deductible upfront rather than being claimed over the asset’s life, regardless of the cost.
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Collins Hume
- Nov 29, 2021
Plan ahead to avoid a tax headache in the New Year
Many employers are looking to bring a little bit of cheer to their employees this Christmas. Here's how not to let tax spoil the party.
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Collins Hume
- Nov 10, 2021
Tax and the Normalisation of Cryptocurrency
The Australian Taxation Office recently updated its guidance on tax and cryptocurrency.
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