Two Drunk Accountants

This week we do a book nuggets on Deep Work by Cal Newport! We gleaned a lot out of this book so have a listen and see how you can drain the shallows from your life!

Dan's back from his honeymoon, and Tim's straight into one of the biggest things that catches people out at tax time – proving your deductions.

This episode is all about substantiation. It might not be the sexiest topic, but it's the difference between keeping your tax deduction and having the ATO knock it back.

The boys cover everything from working from home, motor vehicle claims, and phone and internet expenses, through to laptops, office furniture, donations, super contributions, and the little traps that can wipe out a perfectly good deduction.

They also chat about the latest ATO expectations around working-from-home claims, what records you actually need to keep, and why "I reckon I used it about half the time for work" just doesn't cut it anymore.

You'll learn:

Why a simple four-week phone and internet usage diary can save you a headache.

When it's worth keeping a motor vehicle logbook (and when it isn't).

Why your drive to and from work usually isn't deductible.

What evidence you need for work-related purchases like laptops, desks, chairs and stationery.

The allowance trap that catches people claiming travel and vehicle expenses.

The super contribution form you must lodge before claiming a deduction.

Whether you're doing your own tax return, looking after clients, or just want to make sure your deductions stack up if the ATO comes knocking, this episode is packed with practical advice you can actually use.

The takeaway? The ATO expects proper records, not rough guesses. A little bit of record keeping now can save you a lot of pain later.

If you're an accountant, it's also a great refresher before busy season kicks into full swing.

Today, we have Sam Petrusma from Made by Beings filling in for Dan. Sam and Tim explore the practical applications of AI in business, addressing common misconceptions, current capabilities, and future potential. They share insights from Sam's innovative AI projects and discuss how small businesses can leverage AI for efficiency and growth.

Between holiday destinations, Dan has dropped by the studio to record with Tim, tune in for a delightfully unhinged episode.

While Dan is away on his Honeymoon, we have Chloe & Tim diving into the wonderful world of Child Care Subsidies (CCS) — because apparently raising children wasn't expensive enough already.

They unpack how CCS is actually calculated, why your income might not be what Centrelink thinks it is, and how things like salary packaging, fringe benefits, extra super, and investment property losses can affect your subsidy.

The pair also tackle the big question many parents ask themselves: "Is it even worth going back to work?" when childcare costs, tax, and daycare sickness seem determined to eat every extra dollar you earn.

Plus, they throw around a few ideas on how to fix the system, including whether childcare should simply be tax deductible.

This is one not to be missed!