The best time to do your tax return is generally “sooner, not later”, but the reasons and details depend whether you have a refund coming, or you owe money to the ATO. PART ONE: What’s the best time to do your tax return… IF you expect a tax refund? If you will get a tax […]
Tax and Your Budget
Tax and Your Budget: Managing Debts | Tax Saving Tips | Budgeting and Saving | Personal Finances | Rental Income
Claim your Home Office expenses and increase your tax refund
Do you work entirely from a home office or do you need to do overtime from home? Many of us need to open our home laptop to check emails or use our own phone to make a few work calls from time to time. But if taking work home is a regular occurrence for you, […]
How do I do my tax return?
All your FAQs about tax! When you find yourself stepping into the world of ‘adulting’ it’s never long before you need to ask THAT question: ‘How do I do my tax return?’ More often than not, the jumble of answers you wade through makes you reach for the ‘Too hard” basket and put it off […]
How Can You Get The Best Tax Refund Possible?
Many Australians lose hundreds of dollars each year simply because they forget work-related deductions or receipts for items they can claim back. Do you compare your tax refund to your friends and family and wonder, “How can I get a better tax refund”? Fortunately, there are lots of ways most Australians can improve their tax […]
Want to become a sole trader? 3 steps to make sure you do it right!
Do you want to become a sole trader with long term success? We have a few tips to help you get started! If you have a great idea or an original product? Do you have a clear idea about who your customers will be and what they want? Are you prepared to deliver knock out service? If you answered […]
Holiday Rental Tax Deductions: The Basics
Do you own a holiday rental property? You could be eligible for valuable holiday rental tax deductions. Holiday rental properties are a common type of investment property in Australia. Holiday rentals are often managed by an agent or real estate company, for a fee. Although the operating costs can be higher than other rentals, the […]
Three Easy Ways to Get a Bigger Tax Refund
When you do your tax return each year, do you get the full tax refund you’re entitled to? Are you looking for a bigger tax refund, but don’t know where to start and don’t want to get in trouble with the ATO? In Australia, millions of people miss legitimate tax deductions. That means people don’t […]
Rental Property Tax Deductions – made easy!
Rental property tax deductions can be confusing so we thought we would expel a few myths and clarify a few essentials when it comes to claiming your property expenses. Often, a rental property is expensive to maintain, especially if you have gaps between tenants. However, provided you purchased a solid property in a good or progressive suburb, it generally […]
Top 3 Missed Tax Deductions
A great way to increase your annual tax refund is to claim tax deductions. People often ask us what tax deductions people often miss out on, so here is a quick list that might help boost your tax refund this year. Avoid these 3 commonly missed tax deductions… 1. Claim Union and Registration Fees Do […]
Work Related Travel Expenses – what can you claim?
Work related travel expenses Let’s explain how to turn work-related travel expenses back into dollars in your pocket at tax time. Plus, how to stay out of trouble with the ATO and claim only what you’re entitled to. What exactly is a work-related travel expense? A travel expense that directly relates to your current job […]
Income Protection Insurance is your safety net, with a tax-deductible perk!
It’s natural for us to want to protect everything we care about. So, why don’t more of us protect our income? Many of us insure our cars, our houses and our possessions, but how many of us protect our weekly income with income protection insurance? The answer is, no many! In fact, when we surveyed taxpayer data we discovered that […]
Private Health and Your Taxes: “Should I get Private Health Cover?”
There is a lot of debate in the media about the pros and cons of private health insurance. People are asking, “Should I get private health cover?” Opinions about private health cover are changing. Saving on taxes is part of the decision. According to Australian consumer watchdog, Choice, cheaper private health policies that only meet the minimum for […]
Sun Protection Tax Deductions: Are you covered?
There are many professions that require employees to work in the sun for periods of time. With sun exposure one of the key causes of cancer in Australia, sun protection is an absolute necessity for these people. However, sunglasses, sunscreen and protective head gear can end up costing a lot of money. So what can you do? If you’re […]
Overseas HELP Debt – What is it?
The ATO implemented formal changes to how they recover “overseas HELP debt”. So, if you have lived overseas for more than 6 months and have a HELP debt, you may need to make HELP repayments How does the ATO recover HELP debts? Prior to 2017, Australians with a HELP or TSL debt did not have […]
What are the superannuation contribution limits and tax rates?
When you know the superannuation contribution limits and rates – and the different ways to add money to your super – you can boost your annual tax refund and save painlessly for your retirement. A healthy Superannuation fund is an important part of planning for your retirement. Putting extra money into your superannuation is a great investment in your future. […]
