The Etax Blog | Tax Tips for Australians

Making Money with your Super

Ever wonder about how you can better prepare yourself for retirement? If you earn less than $46,920, then you may be able to take advantage of the Federal Government’s superannuation co-contribution scheme and give your super a nice boost with very little sacrifice!

What is it?

The superannuation co-contribution scheme means that on top of your employer putting a percentage of your income into your super fund, you can also add a little extra. And, the best part is this: The government will pay you $0.50 for every dollar you contribute up to a maximum of $500 per year!

Overseas Forces Tax Exemptions – Do They Apply To Me?

Are you a member of the Australian Defence
overseas forces tax exemption Force who served overseas during the past tax year? If your deployment meets certain criteria then you may qualify for a tax emption on the income you earned while deployed.

In this post we’ll discuss the two overseas forces tax exemptions available to overseas forces and how to work out which, if any, you may have already received.

Overseas Forces Tax Offsets: Are you claiming yours?

One question asked frequently by people working in the Australian Defence Force is whether they are eligible to receive an overseas forces tax offsets when lodging their individual tax return.

Australians working on military deployments in remote locations can get valuable tax advantages if their tax returns are done correctly.

In short, you may be able to claim an overseas forces tax offset if...

Zone Tax Offset: Do you live or work in a remote area?

The zone tax offset is a tax concession zone tax offsets offered by the Australian Tax Office for people who live and work in remote areas of Australia. This tax offset can provide significant tax savings to those eligible Australian taxpayers.

How can I claim the Zone Tax Offset?

If you live or work in a remote area which is defined as either Zone A or Zone B, then you may be entitled to claim the zone tax offset...

Do you receive the Government Aged Pension? You may still need to lodge a tax return.

Many Australians on the aged pension are unsure about their taxes. Common questions from pensioners include…

Do pensioners need to lodge a tax return in 2013?
What should I declare to the ATO?

In this post we’ll discuss the different circumstances where you may (or may not) need to lodge a tax return this year.

Do you have lost super waiting to be claimed?

It is estimated there are Billions of dollars in have you got lost super? unclaimed super floating around Australia’s funds – and 50% of Australian workers have at least some super that’s gone astray.

Every week we have new clients who tell us that they’ve lost track of their super. Each new job they take has a different superannuation provider and as years go by, they simply lose track of it all. As for finding their old super in other funds, they don’t know where to start.

Does this sound like someone you know? It might even be you!

There is any easy way to check if you’ve got lost super waiting to be claimed...

Simple Ways to Improve Your Tax Refund

Do you ever find yourself searching for expense Simple ways to increase your refund with Etax Accountants receipts from 12 months ago? You are not alone!

A recent study conducted by the Commonwealth Bank found that lost receipts are costing one in two Australians an average $1000 in tax rebates every year. Can you afford to miss out on $1000 in extra deductions this year?

Not only is it money that’s being lost, but the study also noted taxpayers spend on average 2.2 hours looking for receipts to support their return.

How to protect your income AND improve your tax refund

Many of us insure our cars, our houses and our possessions, but how many Etax Accountants Income Protection Image of us actually insure our ability to earn income? The answer to that is very few! In fact we surveyed a sample of our clients and discovered that only 2% of last year’s returns had a deduction for income protection.

Income protection can be claimed as a tax deduction, yet most people still do not have any!

Now consider this: More than 25% of people over 30 years old will take more than 6 months off work between now and retirement due to illness or injury. Can you afford to live without your pay for six months?

So what is Income Protection?

Income protection is one of the most basic forms of life insurance.

October 31st Individual Tax Deadline is Fast Approaching

With the October 31st deadline for lodging Individual Tax Returns now October 31st is the Tax Return Deadline less than three weeks away, let’s take a look at what you should do between now and then to ensure you don’t miss the deadline.

To lodge your 2011 tax return, follow these easy steps:

Find your 2010-2011 PAYG summaries which should have been issued by your employer.
Collect all expense receipts from the past financial year.

Making money with your Super

Are you able to get more money into your superannuation with very little sacrifice? If you are an employee and your taxable income is less than $61,920 then the answer is probably yes – you may be entitled to the superannuation co-contribution scheme.

What is it?

The superannuation co-contribution scheme means that on top of your employer putting some of your income into your super fund, you can also add a little extra. And, the best part is this: The government will match your donations up to $1000* per year!