Thriving on helping clients achieve their financial goals, Peter Ristevski co-founded several years ago, one of the first Yellow Brick Road branches in Sydney co-located with his accounting business in Bankstown.
In 2013, he was approached by one of the Big 4 Accounting firms, but instead joined the Chan & Naylor Group.
Leading a team of dedicated property and business specialist accountants in Bankstown, Peter also created the ‘C&N Turnaround Solutions’ arm of Chan & Naylor, assisting businesses with voluntary/involuntary administration and liquidation services.
Passionate about helping the community, Peter was elected to Liverpool Council in September 2012 and then elected Deputy Mayor.
“We understand that due to Covid-19, your working arrangements may have changed,” he said.
“If you have been working from home, you may have expenses you can claim a deduction for at tax time.
“Tracking these expenses can be challenging, so from March 1 to June 30, the ATO have introduced a temporary shortcut method. It’s a simple way to calculate these expenses with minimal record keeping requirements.”
Peter said that In most cases, if you are working from home as an employee, there will be no capital gains tax (CGT) implications for your home.
“Purchases under $300 can be claimed in full in the first year, while purchases over $300 must be spread over multiple years,” he said.
“There are three golden rules of deductions.
“You need to have spent the money and not been reimbursed for it, the item needs to be directly work-related and you can’t claim any private use of an item and, finally, your records need to show that you spent the money and what the item was.”
The three golden rules vital for any tax deduction claim
A CERTIFIED Public Accountant, Peter Ristevski holds a Master’s Degree in Commerce from the University Of Western Sydney and has more than 20 years’ experience in the accounting, finance and property sectors.
