McKern News

Fly-in fly-out (FIFO) and Mining deductions

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Over the last few years we have seen a large increase in the number of FIFO (fly in fly out) workers and people employed in mining sites. Many mining employers pay a significant amount in allowances which consequently have seen an increased level of allowable deductions, and as such the industry has become a target of the Australian Tax Office (ATO) with many employees being subject to review and audit.  For this reason, see below for a guideline as to what type of expenses a FIFO worker can claim as a Tax Deduction.

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Motor Vehicle Deductions

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Motor Vehicle expenses are an item claimed as a deduction by many taxpayers and business operators and an issue that we receive many enquiries about. We have prepared a fact sheet to provide you with information on the types of expenses you can claim and the record that need to be maintained.

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Personal Property Securites Register and your business..

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Recently we have seen some significant change in the registers used across various Commonwealth, State and Territory  bodies to document goods which have a security interest held over them. These registers are used both personally and commercially, however changes and migrations which have taken place will specifically impact on many Small and Medium Businesses. We feel it is important to  remind, or in fact introduce clients, to the Personal Property Securities Register (PPSR) and its applications.

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