The Key CHANGES for 2023/2024 Tax Returns
Each year there are some key changes that happen for individual tax returns. In this video, I go through the key changes that will effect your 2023/2024 tax return.
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⌚️Timestamps
0:00 Has Changed - MV Cents Per Kilometre Rate
2:01 Has Changed - Medicare Levy Surcharge Threshold
3:55 Hasn’t Changed - Tax Rates
5:13 Hasn’t Changed - Home Office Rate
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WHO AM I:
Hey there, I'm Ethan - an accountant turned KZreadr and business owner. My goal is to empower others to build businesses that not only maximise wealth but also optimise for taxes Join me on this channel as I delve into topics like business strategies, structuring, and tax minimisation.
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Disclaimer
Every effort has been made to ensure that the information in this video is accurate. The information in this video and on this KZread channel is for entertainment and general information purposes only. It should not be taken as constituting professional advice. You should not rely on it as financial, legal or tax advice. There are always risks in any financial decision and all decisions should be made on an individual basis. You should conduct your own research and seek independent professional advice where needed. Some of the links in this video or video description may be affiliate links. Ethan Rucioch, Rooshock Enterprises Pty Ltd, Rooshocks NFT Pty Ltd or any other related party may receive a commission through these.
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#tax2024
Пікірлер: 12
Are you tax time ready? Don't forget to check out my How to Maximise Your Tax Return video, coming out on the 30th June!
Super!
@EthanRooshock
Ай бұрын
Thanks!
What if you have a storage room for stock or equipment at home can you claim utilities and rent on a space of room compared to rest of house?
@EthanRooshock
Ай бұрын
It would probably be a very smaller area but would depend on the type of business.
Talking about Cents per km, I have the records how much km I did, but there's is no place to proof this. Do I need to proof just in case if the ATO ask me? And in this case do I need letter of my company or just my own records? Thanks and very nice video mate.
@EthanRooshock
18 күн бұрын
You don't need a written record but the ATO can ask how you calculated it. They may then ask for further proof if they think it is needed.
@wellingtonoliveira1622
18 күн бұрын
@@EthanRooshock thanks mate! U are the best!
Is driving to meet clients or advertise my self to potential clients as a sole trader deductible?
@EthanRooshock
Ай бұрын
Typically it would be as you're travelling to various locations, rather than a set work place.
🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽⭐️⭐️⭐️⭐️⭐️
@EthanRooshock
Ай бұрын
Thanks!