Thu, 9th May 2024

In this episode of Financial Services Online, Paige Estritori deliberates on the Australian Tax Office's amplified control over home office and rental property deductions. Assistant Commissioner Rob Thomson advises maintaining accurate records for work-related tax claims and a vigilant watch on rental property income reports. He suggests waiting for pre-filled data before rushing tax submissions in early July. In a major shift, the Australian Government plans to cut down $3 billion from student loans aiding over 3 million degree holders, a decision likely to significantly alleviate financial pressure on students. This bold move, inspired by a public petition and efforts by the Universities Accord, aims to make education more affordable. Stay tuned for more financial insights on our website: financialservicesonline.com.au.