Latest news with #Chapman
Canberra Times
2 days ago
- Business
- Canberra Times
Things to do now to maximise your tax return
Things to do now to maximise your tax return Happiness is knowing you'll receive the best tax refund possible. Picture Shutterstock This is branded content for H&R Block. With just a few weeks to go until the end of the financial year, you might think it's too late to knock your taxes for the year into shape. However, even this close to EOFY, there are still some last-minute planning opportunities to maximise your refund for the year. So, what should you be doing as we head towards June 30? We spoke to tax expert, Mark Chapman, from H&R Block Tax Accountants, to get some tips. 1. Running your own business? If so, Mr Chapman suggests keeping in mind the "instant asset write-off" measure. This allows small businesses with a turnover of less than $10 million to claim an immediate tax deduction for all capital purchases costing less than $20,000, rather than depreciating the cost over several years. "This is great for tech items such as computers, tablets and phones, as well as tools and equipment for tradies, office furniture and even some motor vehicles," he said. "Remember, as well as making a purchase, the asset you acquire also must be used or available for use in your business, so make sure the item is delivered and installed by 11:59pm on June 30." 2. Seek expert help One sure way to ensure you get the best return possible is to seek the advice of experienced tax agents like H&R Block, rated Australia's number one tax agent by Canstar Blue. They can identify exactly what you need to do to get into shape for the 2024 tax season and maximise those deductions. H&R Block also offers useful online tools for managing your taxation record-keeping process, including its handy free ReceiptHub app that helps you store receipts, track your kilometres, and log your working-from-home hours. 3. Home office If you're employed but work from home, occasionally or all the time, you're entitled to deductions for costs arising from working at home. H&R Block's Mark Chapman. Picture supplied The expenses that you can claim include: Heating, cooling and lighting Cleaning costs Decline in value (depreciation) of home office furniture and fittings, office equipment and computers (for items over $300) Computer consumables, stationery, telephone and internet costs Items of capital equipment, such as furniture and computers, which cost less than $300, can be written off immediately "With many retailers running EOFY specials, any purchases you make now can be deducted in this year's tax return, so, from a cash flow point of view, you can minimise the time between purchase and tax deduction," said Mr Chapman. "If you're claiming the ATO's 70 cents per hour fixed rate deduction for working from home, you must have a complete record of all your hours worked from home from 1 July 2024, like a diary, timesheets or rosters." Remember, even if you plan to choose this easy option, it's best to ask your accountant to run the numbers in order to work out the best option for you. "You don't want to be leaving money on the table," said Mr Chapman. 4. Car expenses If you use the log-book method, now is the time to check it's current. "Make sure you also have all the receipts, invoices and records of journeys you'll need to calculate and substantiate your claim," said Mr Chapman. "If you use the cents per kilometre method, you'll still need a record of work-related journeys." 5 Mobile phone If you used your personal mobile phone for work, you can claim a deduction for the business-related use. "Make sure you have your phone bills collected and have kept a log of your business/personal use over a four-week period," said Mr Chapman. "That percentage can then be applied to the whole year. But remember, this deduction can't be claimed if you have used the 70 cents per hour method to claim working from home expenses. It already includes a component for mobile phone expenses." Getting organised now can reap some pleasant tax refund rewards sooner. Picture Shutterstock 6. Charitable donations Planning to make any charitable donations? "You can claim a deduction for donations of more than $2 to a registered charity," said Mr Chapman, "provided you have the receipt. 7. Prepay some expenses If you have spare cash, consider paying things like union fees, professional subscriptions and annual insurance premiums in advance to accelerate the deduction. "You can claim a tax deduction this year for expenses which wholly or partly relate to next year," said Mr Chapman. 8. Make a tax-deductible super contribution Any more of that spare cash? Look at making a personal contribution to your super fund. "Provided the total amount of contributions, including the contributions made on your behalf by your employer, does not exceed $30,000, this can be a great way to boost your retirement savings and claim a tax deduction for the personal contribution," said Mr Chapman. "The payment must be made by June 30, and you need to advise your super fund that you've made the payment by the time you lodge your tax return." Your super fund or accountant can guide you on completing the form. 9. Offset capital gains against capital losses If you've disposed of shares or any other form of investment and you've made a capital gain, take a look at your investment portfolio and consider disposing of any assets you own that might be sitting at a loss. The resulting capital losses can be offset against the capital gain. "But be careful about selling shares sitting at a loss and then buying them back in the new tax year," said Mr Chapman. "The ATO takes a hard line against so-called 'wash sales'." "This refers to the sale of an asset before the year end and the purchase of a substantially identical asset immediately after the year end. The ATO regards the purchase and the sale as effectively the same asset and has issued a tax ruling which states it can apply the anti-avoidance provisions to cancel any tax benefits and apply penalties." Established in 1971, H&R Block Australia is the leading tax preparation firm in Australia, handling more than 700,000 returns annually. Based in Sydney, the company serves the taxpaying public with more than 400 offices around the country, as well as offering online options and phone appointments. To find out more visit or call 13 23 25.
Los Angeles Times
2 days ago
- Politics
- Los Angeles Times
Huntington Beach activist Chris Kluwe planning state Assembly District 72 run
Huntington Beach resident and activist Chris Kluwe was cast into the spotlight in February, when he was arrested at a City Council meeting for what he maintained was an act of peaceful civil disobedience. Now, Kluwe plans to run for public office for the first time. The former National Football League punter said Wednesday that he will be running for the state Assembly District 72 seat next year. Kluwe, a Democrat, said he's in the process of getting his paperwork together, organizing a campaign team and putting up a website. He said he would likely make an official announcement in early July. 'I've been speaking at a lot of the different Democratic clubs, at Chapman [University] too and a couple of other places,' said Kluwe, 43. 'A constant at every single one of these has been people saying, 'So, when are you going to run for office?' They're like, 'We want to knock doors and raise money for you, when are you running for office?' ... It feels like it would be wasteful not to take advantage of the fact that people are ready to go out and do something.' He added that he never aspired to be a politician, but his father told him that when you serve your country, sometimes you have to do things you don't want to do. Kluwe said he was also motivated by the fact that Republican Huntington Beach City Council member Gracey Van Der Mark had also declared her candidacy for the seat, as Kluwe has been highly critical of the policies of Van Der Mark and her fellow conservative council colleagues. Former state Assemblyman and Huntington Beach Mayor Matthew Harper, a Republican, has also declared for the race. Diane Dixon, a Republican in her second term representing District 72, has announced that she is vacating the seat to challenge incumbent Democrat Katrina Foley for her position as the Orange County Supervisor representing the 5th District. Assembly District 72 includes the Orange County cities of Aliso Viejo, Huntington Beach, Laguna Beach, Laguna Hills, Laguna Woods, Lake Forest, Newport Beach and Seal Beach. 'I grew up in Seal Beach, so I'm familiar with the area,' Kluwe said. 'I know that there's a lot of small-c conservatives there, like my dad. They just want a sane and competent government. We can argue about the budget, we can argue about our involvement in foreign affairs, but we can't argue about whether or not someone has the right to exist.'
The Herald Scotland
3 days ago
- Politics
- The Herald Scotland
Maggie Chapman faces list battle with top Greens activist
Ingerson currently serves as the party's leader in Aberdeen and Aberdeenshire and is the co-convenor of the party's LGBT+ wing, the Rainbow Greens. Formerly co-leader of the Greens from 2013 to 2019, Chapman has been an MSP since 2021. She was nearly ousted from the Scottish Parliament's equalities committee in April after criticising the Supreme Court over their recent ruling on the definition of a woman. In a statement, Ingerson pledged to be a 'change candidate' for the region. The activist previously stood for the Greens in Aberdeen South last summer, earning 3.5% of the vote. Party activist Guy Ingerson. (Image: Supplied) He said: 'Like the rest of Scotland, communities across our region have seen successive cuts to public services. Our NHS, libraries, colleges, and local nurseries have all seen cuts, and our universities are in crisis. Enough is enough. 'We need an anti-cuts campaigner in the Scottish Parliament fighting to improve and restore our public services. I am that person.' Once a political ally of Chapman, Ingerson lodged an internal party bullying complaint against his former boss last month, alleging that she contacted his new employer to warn he was 'untrustworthy'. Both Chapman and Ingerson have declined to comment publicly on the matter. Ingerson said that securing a just energy transition is a key priority of his campaign. He noted: 'The transition away from oil & gas is not bringing everyone with it. People need to see tangible benefits to renewable energy infrastructure, and they need jobs to go to. We have been waiting years for a plan from the Scottish government and the UK government are not delivering; we cannot wait any longer. 'We should be looking to the 'Our Power' report produced by Platform and Friends of the Earth Scotland. This must be the starting point for any plan. We need climate justice and action. We need both now.'
Newsweek
4 days ago
- Sport
- Newsweek
Red Sox Predicted to Trade 7-Time All-Star to Mets After Rafael Devers Shocker
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. A couple of weeks ago, the Boston Red Sox looked like they were heading toward being sellers at the trade deadline. However, they turned things around and entered Monday a half-game out of a wild card spot. However, despite their recent hot stretch and sweep of the New York Yankees, the team traded away Rafael Devers. Chief baseball officer Craig Breslow remains adamant the team is not waving the white flag, but it's hard to imagine the Red Sox continuing to play well without Devers while Alex Bregman is also injured. If the Red Sox revert to their poor play, they will have many attractive pieces at the trade deadline. BALLCAP Sports' Jim Riley predicted they would trade Aroldis Chapman to the New York Mets. FORT MYERS, FLORIDA - MARCH 1:Aroldis Chapman #44 of the Boston Red Sox pitches during the fourth inning of a Grapefruit League game against the Minnesota Twins at JetBlue Park at Fenway South in Fort... FORT MYERS, FLORIDA - MARCH 1:Aroldis Chapman #44 of the Boston Red Sox pitches during the fourth inning of a Grapefruit League game against the Minnesota Twins at JetBlue Park at Fenway South in Fort Myers, Florida on March 1, 2025. More Maddie Malhotra/Boston"Give me the New York Mets," Riley said in a video on what team will trade for Chapman. "When I think about the Mets' philosophy heading into this year, signing A.J. Minter, one of the bigger free-agent signings, but then Minter went down, the outline is that they want to have an impact lefty arm in that bullpen. "They still don't really have that. So go out and get one of the best that would be available, the best to do it this year, Chapman. And you would have a setup where once you get to the eighth inning, you put Chapman out there and in the ninth inning, you have Díaz." To be fair, Chapman could be a candidate to be dealt even if the Red Sox are in contention. He is a free agent after the season and has been phenomenal. He is still lighting up the radar gun and has 12 saves on the season. The seven-time All-Star has a 1.55 ERA in 32 games. He has been traded twice in his career and went on to win the World Series both times. He could be a huge asset for the Mets. The Red Sox will be a team to monitor for contenders between now and the July 31 trade deadline. More MLB: Red Sox Legend David Ortiz Calls Out Rafael Devers' Behavior After Surprise Trade
Yahoo
4 days ago
- Sport
- Yahoo
Red Sox' Aroldis Chapman Makes WBC Announcement Amid Trade Rumors
Red Sox' Aroldis Chapman Makes WBC Announcement Amid Trade Rumors originally appeared on Athlon Sports. After signing with the Boston Red Sox on a one-year, $10.75 million contract in 2024, former Yankees closer Aroldis Chapman has found a career resurgence, pitching to a 1.55 ERA and notching 12 saves early in the season. Advertisement Chapman, who has been exploring offers for the 2026 World Baseball Classic, reportedly rejected an offer in March to play in the 2026 World Baseball Classic for the Cuban national team. Chapman defected from the Cuban national team in 2009 to pursue a career in the MLB, prompting large controversy. On Monday, a surprising update surfaced on Chapman's WBC eligibility. Former New York Yankees closer Aroldis Chapman pitches for the Boston Red Sox at Fenway Park.© Brian Fluharty-Imagn Images Chapman reportedly was asked to pitch for Great Britain's national baseball team in 2026, which might seem odd to some people. Chapman shares British eligibility, however, as his paternal grandfather emigrated from Jamaica to Cuba while Jamaica was still a British colony. Advertisement Chapman, who is third among active pitchers with 347 career saves, declined to give a definite yes to Great Britain's program. 'I did not give them 100% certainty about whether I will play,' Chapman told Cuban outlet Swing Completo. 'Remember that I will be a free agent next season and I don't know what will happen," Chapman said. "But I told them that I am available to be on the roster and that before giving a definite yes about playing, I need to wait for my next season in free agency to unfold.' Chapman's future appears to be in flux, and trade rumors involving the resurgent closer have been aflame after the Red Sox' surprising trade of Rafael Devers Sunday. Advertisement Chapman's addition to the British contingent in 2026 would be a huge boost for the squad, which in 2023 included Mariners' No. 5 prospect Harry Ford, and former Dodgers outfielder Trayce Thompson. Related: Red Sox Predicted As Trade Destination For Slugging First Baseman Amid Rafael Devers News Related: Red Sox Announce Trade With Twins After Marcelo Mayer News Related: Red Sox Pitcher's Wild Behavior Caught on Camera During Rays Game This story was originally reported by Athlon Sports on Jun 16, 2025, where it first appeared.
