Put simply, negative gearing occurs when an investor borrows money to buy a property, and the cost of owning and running that property exceeds the rental income it generates. As an investor of a negatively geared property, you make up the gap between the expenses on the property and the rental income. This isn’t always […]
Tax Advice
Tax Advice: 2023 Tax Return | Increase Your Tax Refund | Tax Deductions | Medicare and Health Insurance | Tax Rebates
Etax Property Investment Tax Hub
Find out which property investment expenses can claim as tax deductions. Learn about depreciation, negative gearing, Capital Gains Tax and more.
The Etax Investment Property Tax Hub has everything you need to know about owning, renting and selling an investment property.
Tax deductions for IT professionals – what you can claim
There’s no denying it, IT professionals are the unseen frontline heroes of a business. Whether you’re a developer, a support guru or a security ninja, it’s never an easy job to keep services and people working, 24/7. What is surprising is the number of available tax deductions for IT professionals. So, let’s get our IT […]
Paying GST at Settlement: What you need to know
What is GST Withholding If you buy a new residential property, or land with the intention to build a residential property and you make this purchase from a GST registered business, you need to withhold an amount for GST to pay directly to the ATO on settlement. When does the GST Residential Withholding payment apply […]
ATO Data Matching – What is it and will it affect me?
You may have heard that ATO data matching technology is now being used in Australia. The ATO launched the system to find missing income from individual tax returns. It’s a new, more sophisticated way to collect more tax from taxpayers who may, either accidentally or deliberately, understate their income. What is ATO Data Matching? ATO […]
How to defer a HELP debt during financial hardship
If you have a HELP debt and are experiencing financial hardship, you may be eligible to ask the ATO to defer your help debt for a temporary period. If the ATO accepts your request, it means that they will put a temporary hold on your repayments. What is a HELP debt? Commonly referred to as […]
Why Has My Tax Refund Gone Down?
And How Do I Avoid It Happening Again? Around eight out of every ten Australians who lodge a tax return get a tax refund. But for some of us, the refund that we get isn’t quite as big as we expect. “Why has my tax refund gone down?” is a very common question. Let’s cover […]
The Low and Middle Income Tax Offset (LMITO) is Over – What Does it Mean for You?
We all enjoy an extra boost in our tax refund, most recently from the low and middle income tax offset (LMITO) that helped boost refunds for millions of Aussie workers. The government introduced LMITO in the 2018-19 tax year and increased in value in 2021-22 with an additional “cost of living tax offset”. Unfortunately, the […]
Stage 3 Tax Cuts Explained: Who Benefits and How it Affects Your Tax Return
Stage 3 tax cuts have been a topic of discussion since they were announced in 2018. These tax cuts were aimed to provide Australian taxpayers with some relief from “bracket creep”, while making the tax system a bit simpler. What are the stage 3 tax cuts? In simple terms, the previous Australian government tinkered with […]
Salary Sacrifice and Tax: The Basics
Salary sacrifice arrangements, also known as salary packaging, can be a smart way to get ahead, but it can also get confusing. Essentially, salary sacrificing means you use a portion of your pre-tax income in exchange for certain benefits or items. And, as you use your pre-tax income, you pay less tax overall. Many employers […]
Fringe Benefits Tax (FBT)
Whether you receive fringe benefits as part of your employment contract or a salary sacrifice package, it’s important to understand how fringe benefits tax affects your tax return. Your employer must pay any tax applied to the fringe benefits you receive, but you will also need to report them on your tax return. What are […]
A Simple Guide To Tax Deductions in Australia
What is a tax deduction? A tax deduction is a something you paid for, out of your own pocket, that can be listed on your tax return. Deductions can help reduce your taxable income, which boosts your tax refund at tax time. Tax deductions include work-related expenses like the costs of buying uniforms, tools and […]
Claiming Home Office Expenses in 2023
The ATO announced big changes to how you claim home office expenses on your 2023 tax return. Before we get into the details, don’t stress – at Etax we’ll help get it right for you. You won’t notice the changes in your tax return because we’ll automatically calculate which deduction method gives you the biggest […]
Actual Cost Method
The Actual Cost Method is one of two methods available to taxpayers to claim their work from home expenses. As opposed to the fixed cost method where you claim 67c per hour worked from home, the actual cost method involves claiming the actual cost you incurred for items like phone, internet and electricity while working […]
Working From Home Tax Deductions
If you’re an employee who works from home, you’re probably using things like your phone, internet, and electricity. These are considered working from home tax deductions that you could potentially claim on your tax return. However, it’s important to note that how you work from home impacts on whether you can home office expenses. For […]
