H&R Block Australia’s Post

Comparison of Deductions under Old Regime vs. New Regime for FY 2023-24 #TaxComparison #IncomeTaxChanges #TaxDeductions

Can you believe it's nearly that time of year again? 🤦♂️ With the cost-of-living crisis hurting everyone, it has never been more important to ensure you are claiming absolutely everything you can on tax! This handy guide explains everything you can and can't claim in 2024 specifically for call centre workers. https://lnkd.in/epiDKZk5

The tax rate for helicopters and cruise ships is 5% ⛴️ The tax rate for bikes, scooters, and cars is 28% 🚗. The Finance Minister aims to reduce tax rates on helicopters and cruise ships to empower the lower middle class and those below the poverty line. 🙄 #xperteez #xperteeztechnology #taxreform #empowerment #financeminister #primeminister #protest 🙄 🙄

Comparison of Deductions under Old Regime vs. New Regime for FY 2023-24 #TaxComparison #IncomeTaxChanges #TaxDeductions

Buried in the #Budget2024 report is the news that double cab pick ups will be treated as cars again for tax purposes (capital allowances and benefit in kind). Earlier this year plans were put in place by the then Conservative Government only to be reversed with a u-turn a week later! The new rules will come in from April 2025, but if you have bought or leased one before then then you can use the current tax treatment until disposal of the “car”, end of lease or April 2029, whichever is earliest. See section 2.19 -https://lnkd.in/edDc9ciP

Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below, then you can claim a £1,000 allowance for each. #PropertyAllowance #TradingAllowance

This tax provision offers significant benefits for both dealers and farmers. Here’s why it matters: 1) Deduct up to $1,220,000 on eligible purchases in 2024. 2) Both new and used equipment qualify (as long as it’s “new to you”). 3) Immediate savings free up cash to reinvest in your operation. Check out the full article below to learn the full details! #section179 #equipmentfinancing #farmcredit #agbusiness #taxes

📝 The Canada Revenue Agency has updated T4130 Employers’ Guide – Taxable Benefits and Allowances, providing guidance on valuing benefits, calculating GST/HST liability, and determining employer responsibilities for taxable benefits. Learn more here: https://lnkd.in/gZ4PPevX #TaxDevelopment

"Submit expense proofs for income tax deductions. LTA claims require documentation of travel expenses for family, submitted to employers." . source: The Economic Times . . #TaxDeductions #ExpenseProofs #IncomeTax #LTA #TravelExpenses #FamilyTravel #EmployerClaims #TaxSavings #FinancialDocumentation #SubmitOnTime

Labor & tax rates differ by state and zip code, making the repair rates hard to pin down. What’s correct in one place can be wrong in another. Now for the easy part: OEC Geo Labor Rate & Tax Guide is an accurate guide for calculating repair labor & tax rates for any address. For more, check out the video below or visit: https://lnkd.in/gZB7_qSr #OEC #NowForTheEasyPart #Insurance