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The tax office is warning Australians to stop claiming private expenses on their tax returns, with some attempting to claim baby expenses, personal gifts and meal deliveries as work-related. More than 10 million Australians have claimed about $31 billion worth of work-related expenses in their 2024-25 tax returns so far, many relating to working from home. Business reporter Nassim Khadem sits down with ATO's assistant commissioner Anita Challen. #Tax#ATO#TaxReturn#Business#ABCNews
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Stop trying to “save your way” to becoming wealthy… I learned early... income is taxed. Ownership is leveraged. I didn’t get here by stacking cash in a savings account. I got here by building and controlling assets. I focused on: • Real estate that produces cash flow and appreciation. • Debt used strategically, leveraging other people’s money to scale faster. • Businesses that generate income beyond my time. • A lending model that lets me sit in the position of the bank. And on the tax side... I
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Revenue is vanity. Profit is sanity. Cash is reality. I've seen businesses with impressive turnover that still struggle to pay their bills. Why? Because revenue alone doesn't tell the whole story. What really matters is sustainable profit and healthy cashflow. They're what keep a business operating, growing, and resilient. Don't judge a business by its turnover alone. Look at what it actually keeps—and what it has in the bank. #BusinessGrowth #CashFlow #Entrepreneurship
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