The Australian Tax Office has released details of the occupations and claims that they will be targeting this year. The ATO has reported that with around 7.1 million individual taxpayers collectively claiming $12.5 billion in deductions for work related expenses in 05/06, work-related expense claims continue to pose a significant challenge. This is an increase of 9.3 per cent over the previous income year, according to GiffardSim Accountants director Rob Giffard.

There is no doubt that the recent changes to superannuation in Australia have made super the most effective way to minimise tax and maximise assets in retirement. Why is this so? There are several key reasons.

Now is an opportune time for financially healthy businesses to takeover small enterprises feeling the pinch as a result of higher interest rates and inflation according to GiffardSim Accountants principal Rob Giffard.