Tue, 7th May 2024

In this episode of the Weekly Finance News Wrap, Paige Estritori discusses the Australian Tax Office's scrutiny on home office and property-related tax deductions, urging taxpayers to maintain precise records. Special attention should be given to home office hours and expenses to avoid penalties. In other news, Australian university graduates are set to benefit from $3 billion cut from student loans, a government move influenced by the Universities Accord and MP Monique Ryan. The average graduate will enjoy savings of around $1,200 on Higher Education Loan Program debt. This policy change links loan indexation to the lower consumer or wage price index and reflects the government's commitment to affordable education amid rising inflation. Stay tuned to financialservicesonline.com.au for more financial news.