A new Bankwest survey found that many of Australia’s tech-savvy Gen Ys could be missing out on higher tax refunds from the ATO. The report found that 53% of Gen Ys submit their own return in the hope of saving themselves the Accountant fees. The Bankwest report says that while the younger generation feel more […]
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Tax Advice: 2019 Tax Return | Increase Your Tax Refund | Superannuation | Tax Deductions | Medicare and Health Insurance
Super Fund Commission Charges Wipe Out Super Tax Breaks
A new study conducted by Rainmaker Information found that super fund commission charges and fees wipe out almost all of the tax concessions Australians receive for superannuation. These commissions are being charged on Retail Super Funds – funds run by the “big four” banks and insurers. These super fund commission charges – often secretive but […]
ATO Audits are Now More Accurate at Finding Tax Cheats
ATO Audits are conducted when ATO systems detect signs that someone is cheating on their taxes. The Australian Tax Office (ATO) now uses more advanced computers to detect suspicious claims and fraudulent tax returns. Computer modeling finds tax cheats and triggers ATO audits A series of 20 computer models run on every tax return, with […]
