No. The tax invoice must show the GST inclusive price and need not show the GST separately if the GST payable is merely 1/11th of the GST inclusive price. If it is not 1/11th of the GST inclusive price, for example it is a mixed supply, the GST must be shown separately.

If the margin scheme is applied to the sale of property, the GST is generally calculated on the difference between the price at which the property is sold and its acquisition cost. GST is, therefore, only payable on the vendor's "margin" for the sale.

However, if the property was acquired before 1 July 2000, then the GST is usually based on the difference between the price at which it was sold and the market value of the property at 1 July 2000 (this is known as the "valuation" method).

Note – the margin scheme is not available to vendors who were able to claim an input tax credit on the property when it was originally acquired.

According to the ATO, a vendor intending to use the margin scheme must choose to do so at or before the sale of the property, which is usually settlement.

If you are not registered for GST because, for example, you are an employee, you cannot claim input tax credits. Even if you are registered for GST, you cannot claim input tax credits in respect of the use of your car for employment purposes. If you run your business as a sole trader and are registered for GST, you will be entitled to input tax credits if you use your car for business purposes.

No. The common consensus is that the hirer cannot make a lump sum payment for future GST up front and say all future monthly payments are simply the remaining GST exclusive amounts. The amount of input tax credit should simply be 1/11th of any amount paid.

Reminder - GST credits cannot be claimed for any new motor vehicles acquired before 1 July 2001.

Beginning with the 2012-2013 tax year, businesses with a turnover of under $2 million can instantly write off any depreciating assets which cost $6500 or less. From a technology standpoint, that means that virtually any laptop you purchase can be written off immediately, rather than over a number of years. Many server systems would also fall under that threshold.

The limit applies to each individual item; if you purchased four $3000 notebooks for work, they would all be immediately written off, rather than being depreciated over a period of three or four years.

You still need to write off higher-priced assets over a number of years, but the rules are also simpler there; assets are added to a general pool and depreciated at 15 per cent for the first year and 30 per cent for each subsequent year.

From the 2012-2013 income year, a small business using the simplified depreciation rules can claim up to $5,000 as an immediate deduction for a motor vehicle costing $6,500 or more that it starts to use, or have installed ready for use, for taxable purpose.

If you received a bona fide travel allowance and the deduction exceeds the Commissioner's reasonable allowance amount, you must fully substantiate all travel claims by providing the following records:

1. details and evidence to support the type and specific amounts of allowance received for travel expenses, such as accommodation, meals and incidentals

2. details of specific overnight travel undertaken, including:

1. dates or period travel was undertaken
2. specific purpose of travel
3. if the travel involves being away from home for six or more nights in a row, a travel record (diary) is required to be kept

3. evidence that you actually undertook the travel and incurred the accommodation and meal expenses, such as receipts or other documents.

If you did not receive a bona fide travel allowance or received a token travel allowance, you will be asked to keep the following records:

details of specific overnight travel undertaken, including:

1. dates or period travel was undertaken
2. specific purpose of travel
3. if the travel involves being away from home for six or more nights in a row, a travel record (diary) is required to be kept.
4. sufficient information to ascertain how specific expenses were incurred in the course of earning assessable income

The ATO will generally not allow a taxpayer to claim for expenses associated with their home office unless their employer considers it necessary for them to work from home and the following criteria can be established:

It is normal practice in the employee's industry to perform some work duties from home;

It is a part of their current job specification; and

It is a condition of their employment, although not necessarily evidenced/documented in writing.

Generally speaking, "running expenses" are able to be claimed by salary and wage earners who satisfy the above criteria, "Occupancy expenses" may be claimed by people running a business from home. For discussion as to what the ATO considers to be a "place of business", refer to Paul Carrazzo's feature article on this issue, published in the June 1999 issue of The Australian Bloodhorse Review.

A log book does not have to be kept every year. The business percentage is valid for five years. That is, the year that the log book is kept and the subsequent four years. Once you have established the business use percentage, you are not required to complete a new log book unless required to do so by the legislation, or otherwise directed in writing by the ATO. This business percentage is used as a basis for you to arrive at your reasonable estimate of the business use percentage in each income year as noted above.

Note: You must keep odometer records every income year.

Business travel is travel which is undertaken in gaining or producing your assessable income or carrying on a business for that purpose. Travel between home and a person's regular place of employment or business is ordinarily private travel. While travel to work is a necessary prerequisite to earning income, it is not undertaken in the course of earning that income. Put at its simplest, travel to work is private; travel on work is business.

Beginning with the 2012-2013 tax year, businesses with a turnover of under $2 million can instantly write off any depreciating assets which cost $6500 or less. From a technology standpoint, that means that virtually any laptop you purchase can be written off immediately, rather than over a number of years. Many server systems would also fall under that threshold.

The limit applies to each individual item; if you purchased four $3000 notebooks for work, they would all be immediately written off, rather than being depreciated over a period of three or four years.

You still need to write off higher-priced assets over a number of years, but the rules are also simpler there; assets are added to a general pool and depreciated at 15 per cent for the first year and 30 per cent for each subsequent year.

From the 2012-2013 income year, a small business using the simplified depreciation rules can claim up to $5,000 as an immediate deduction for a motor vehicle costing $6,500 or more that it starts to use, or have installed ready for use, for taxable purpose.

If you received a bona fide travel allowance and the deduction exceeds the Commissioner's reasonable allowance amount, you must fully substantiate all travel claims by providing the following records:

1. details and evidence to support the type and specific amounts of allowance received for travel expenses, such as accommodation, meals and incidentals

2. details of specific overnight travel undertaken, including:

1. dates or period travel was undertaken
2. specific purpose of travel
3. if the travel involves being away from home for six or more nights in a row, a travel record (diary) is required to be kept

3. evidence that you actually undertook the travel and incurred the accommodation and meal expenses, such as receipts or other documents.

If you did not receive a bona fide travel allowance or received a token travel allowance, you will be asked to keep the following records:

details of specific overnight travel undertaken, including:

1. dates or period travel was undertaken
2. specific purpose of travel
3. if the travel involves being away from home for six or more nights in a row, a travel record (diary) is required to be kept.
4. sufficient information to ascertain how specific expenses were incurred in the course of earning assessable income

The ATO will generally not allow a taxpayer to claim for expenses associated with their home office unless their employer considers it necessary for them to work from home and the following criteria can be established:

It is normal practice in the employee's industry to perform some work duties from home;

It is a part of their current job specification; and

It is a condition of their employment, although not necessarily evidenced/documented in writing.

Generally speaking, "running expenses" are able to be claimed by salary and wage earners who satisfy the above criteria, "Occupancy expenses" may be claimed by people running a business from home. For discussion as to what the ATO considers to be a "place of business", refer to Paul Carrazzo's feature article on this issue, published in the June 1999 issue of The Australian Bloodhorse Review.

A log book does not have to be kept every year. The business percentage is valid for five years. That is, the year that the log book is kept and the subsequent four years. Once you have established the business use percentage, you are not required to complete a new log book unless required to do so by the legislation, or otherwise directed in writing by the ATO. This business percentage is used as a basis for you to arrive at your reasonable estimate of the business use percentage in each income year as noted above.

Note: You must keep odometer records every income year.

Business travel is travel which is undertaken in gaining or producing your assessable income or carrying on a business for that purpose. Travel between home and a person's regular place of employment or business is ordinarily private travel. While travel to work is a necessary prerequisite to earning income, it is not undertaken in the course of earning that income. Put at its simplest, travel to work is private; travel on work is business.