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!

Claim Your Dental Expenses as a Tax Deduction

“Can my dental expenses be deducted on my tax return?"

Let’s discuss how you can maximise your tax refund by legally claiming your dental treatment costs as a deductible expense.

The Specifics

For tax purposes, the Australian Tax Office lumps dental expenses together with other medical expenses. Unfortunately, this means you can’t claim back your dental expenses ‘dollar for dollar’ – but there are some savings to be had.

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.

Top 3 Forgotten Tax Deductions

Are you missing out on valuable deductions etax-accountants-top-deductions which could improve your tax refund? In this article we discuss our top 3 commonly missed tax deductions.

Union and Registration Fees

Do you pay union fees each year? If so, then you are entitled to claim them as a tax deduction on your return each year. Simply enter the total amount you’ve paid in union fees this year under
D5 – Other Work Related Expenses

10 easy ways to reduce your tax- part 2

Here easy ways to save on tax is the second part to our series on the ten simple ways to reduce your tax. If you would like to see the first five items in our list, see our last blog.

6. Expenses based on Circumstances

If you know in advance that you are going to have certain deductions, choose which financial year you purchase them in. Depending on your levels of income or deductions you may want to adjust which financial year you purchase the item in. For example if you have a large expense which is tax deductable it may be beneficial to purchase it in a year where your income is high, rather than a year in which you took an extended holiday or unpaid leave.

10 easy ways to reduce your tax- Part 1

There are countless easy ways in which you can reduce your TAX. Take a look below where we’ve listed five simple ways that will help you this tax season. 10 easy ways to reduce your tax

1. Keep Good Records

Keeping good records is the top way to ensure you claim every expense you are entitled to and that your tax process runs smoothly. Ensure you are organised! Take 5 minutes each week to sort out your receipts and logbooks and we guarantee it will save a lot of pain and anguish at the end of 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!