Don’t make the mistake of leaving major tax-deductible purchases to the end of the financial year – the time to act is now, experts say.
A late-June donations drive is under way and generous Australians can boost their tax refund, but traps are lurking.
The tax deductions and dodgy records to be closely watched by the Australian Taxation Office this year have been unveiled.
Income tax doesn't apply for amounts earned under $18,200, and it has been that way for nearly a decade.
The value of SMSF loans has increased by about 50% in four years, up from $41 billion in 2017 to $65.8 billion in 2021.

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