2020 Tax Tips

Tax Tips for 2020 that are Covid-ready

Are you a business, employee, student, investor or tax agent? Check out these CPA tax tips for 2020.

Employees

COVID-19 has changed the way we work, and this could affect your 2019–20 return. Find out what tax deductions you might be eligible to help you legitimately reduce your tax liability.

Investors

The rental market and investment returns have been disrupted by COVID-19, meaning it’s more important than ever to keep up-to-date with changes and correctly apply the various rules and concessions available to investors.

Small business

Running a small business is always a challenge, even before a pandemic. But with many businesses struggling more than ever, now is the time to look at your books, get up to date on your tax obligations, access any tax concessions that are available to help your business and obtain professional tax advice, especially in areas where more complex tax issues arise.

Students

If you’re a student, lodging an income tax return can seem a bit daunting. In fact, even parents helping to navigate these uncertain waters can find it challenging. To help, CPA Australia has put together tax tips for students for the year ending 30 June 2020.

Tax EOFY issues 2020

The ATO has received a range of COVID-19 year-end tax queries from advisors and has been developing further advice and guidance to support the community during Tax Time 2020. Read the latest on COVID-19 year-end tax issues the ATO has considered so far.

See here for all the details

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