radford tax logo
07 5495 4100 ◆

Five expenses you can’t claim as a tax deduction

Posted on September 12, 2016 by admin

As the countdown begins to Australia’s tax return lodgment date, many individuals in the country may be hurrying to find a few extra possible tax deductions to claim.

However, in the rush before the deadline, it is important not to waste time claiming deductions for expenses or items that are commonly thought of as tax deductible, but are knocked back by the ATO.

Volunteer work
Individuals cannot claim tax-deductions for expenditures while volunteering for charities or other not-for-profit organisations e.g. petrol used when driving out to help community efforts.

Police clearance and record checks
While some checks are required as a prerequisite to secure certain types of employment, the cost of these checks are not allowable deductions (the reason being that the cost is incurred at a point that is too soon to be associated with the employment income).

Vaccinations
Individuals, even those who work for certain airlines, cannot claim deductions for the cost of vaccinations against diseases they may come in contact with during the course of earning an income.

Driver’s licence
Even if it is a condition of a person’s employment, the cost of a driver’s licence is not an allowable deduction.

Eviction of a tenant
Expenses incurred by rental property owners when raising eviction proceedings against a tenant are not allowed as a tax deduction to the property owner.

maximise your business's value

latest news

Things to consider before rebranding your business

Posted on February 13, 2020 by admin

Rebranding your business can seem like a daunting task, as it can involve a range of arduous tasks such as changing designs, updating clients, retraining staff and changing your marketing strategies.

However, rebranding can be an option for many businesses if:

To make the task of rebranding seem less daunting, consider these tips before starting to help you in your process.

Evaluate your need for rebranding
Make sure that the reason for your rebranding is valid and don’t act on impulse decisions. Rebranding can take a lot of time and resources and can often decrease your business if not done successfully, so it is important that you evaluate if rebranding is right for your business and outline the reasons why. It can be helpful to talk to staff about it to get ideas from people who are also invested in the success of your business.

Plan a budget
Before you rush into rebranding your business, make sure you have the funds to do so. Research and estimate how many resources will go into different areas of rebranding, e.g. marketing, website design, training staff etc. and outline a budget that can help you manage your finances through the process.

Have a strategy
Before you start rebranding, plan out a strategy that will guide you in the process and can increase the chances of success. This will help the process run more smoothly and prevent unexpected challenges that could detriment your business.

Solidify your mission and values
Having a clear understanding of the mission and values you want your business to have going forward can help you make important branding decisions and help build the foundation for your new brand. Having you and your staff on the same page with the business mission and values can improve efficiency and motivation when working on the rebrand.

radford tax associationsradford tax associationsradford tax associations