Tag: anne hunter

Tag: anne hunter

How Mortgages Work?

How Mortgages Work?

This article, intended to enhance financial literacy and written from a tax agent’s perspective, explains the basic mechanics of a mortgage. It covers the definition, structure, types, down payments, interest rates, fees, tax considerations, refinancing options, and default consequences. The focus is to provide a clear and comprehensive understanding of mortgages, emphasising the importance of informed decision-making and professional guidance in managing this significant financial commitment.

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Travel expense documentation

Travel expense documentation

This article, written from a tax agent’s perspective, offers guidance on managing and keeping records of travel expenses for tax purposes. It covers understanding eligible expenses, detailed record-keeping, using digital tools, allocating expenses, understanding per diem allowances, handling international travel, the importance of regular reviews, and the value of consulting with tax professionals. The focus is on ensuring accurate and compliant documentation of travel expenses for tax deductions.

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Is there tax on Lotto?

Is there tax on Lotto?

This article, written from a tax agent’s perspective, addresses the common question regarding the tax treatment of lottery winnings. It discusses the general tax-free status of winnings, investment income tax, gifting implications, estate tax considerations, the importance of professional advice, reporting requirements, and the necessity of staying informed about tax laws. The focus is on providing a comprehensive understanding of the tax implications associated with lottery winnings and the importance of prudent financial management in this context.

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Hobby or a business?

Hobby or a business?

This article, written from a tax agent’s perspective, explores the differences between a hobby and a business for tax purposes. It covers the definitions, implications for hobbies and businesses, factors for evaluation, the importance of seeking professional advice, and record-keeping recommendations. The focus is to guide individuals in understanding how their activities are classified and the corresponding tax implications.

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Working from home deductions

Working from home deductions

This article, written from a tax agent’s perspective, provides an overview of deductions available for working from home. It covers eligibility, types of deductions, calculation methods, record-keeping, common misconceptions, special considerations in light of COVID-19, and the importance of seeking professional tax advice. The aim is to guide individuals in effectively claiming home office expenses on their tax returns.

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Getting your finances in order

Getting your finances in order

This article, written from an accountant’s perspective, offers practical tips for individuals looking to organise and optimise their financial health. It covers creating a budget, building an emergency fund, managing debt, saving and investing, regular financial reviews, minimising unnecessary spending, maximising income, tax planning, and the value of professional financial advice. The focus is on establishing a structured approach to managing finances effectively for long-term stability and growth.

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Want to know more about Xero

Want to know more about Xero

This article, tailored for business owners and written from an accountant’s perspective, highlights the benefits of using Xero accounting software in business operations. It covers key features like cloud-based convenience, user-friendliness, automation, cash flow management, reporting, integration, collaboration, updates, security, tax compliance, and the value of professional guidance for setup and optimisation. The focus is on how Xero can streamline financial processes and provide valuable business insights.

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