What is a Redundancy Payment? A redundancy payment, also known as Employment Termination Payment (ETP), is a lump sum amount paid to an employee after redundancy. There are a few different types of redundancy payments, and each one can have a different effect on your tax return at tax time. For tax purposes an Employment […]
eBay Income: Do you sell online? The ATO is watching…
As online retail continues to expand, the ATO is keeping a careful eye on everyone’s eBay income When eBay launched in 1999 it was simply an auction site where people could sell household goods they no longer needed. This has changed dramatically over the past 20+ years, with many people now using eBay income as […]
Tax Tips and Tax Deductions for Freelancers
Are you giving freelance work a go? Your freelancer tax deductions and tax tips are right here! Whether your video skills are in high demand, your Airtasker gigs have amped up or you are totally nailing it in the cupcake game, this freelancer tax deductions blog will be a massive help to you at tax […]
Private Health Rebate: How does it impact my Private Health Insurance?
The private health rebate is a percentage of the total premium amount which can be applied as a reduction to your health insurance premiums or it can be applied as a refundable tax offset come tax time. What impacts my private health rebate? Your rebate is calculated based on your living status, age and income […]
$1,700 in Unpaid Super Every Year – Here’s What You Can Do About It
Would it bother you if your weekly or fortnightly pay was consistently 12% short? Once you noticed, would you do something about it? If you’re like most Australians, the answer would be a resounding “Yes!”. Here’s the scary part: this is exactly what’s happening to as many as one in three Australians. So, what’s the […]
Superannuation Co-Contribution: Get More Money for Your Super
Ever wonder how you can better prepare yourself for retirement? Low or middle-income earners can give your super a nice boost – with very little sacrifice! Read on to find out how you can take advantage of the Federal Government’s superannuation co-contribution scheme. What is it the government super co-contribution scheme? The super co-contribution scheme is […]
myGov vs Etax vs tax agent: which is best for your Australian tax return?
“What’s the best way to do my tax return?” Choosing between myGov, Etax, and a traditional tax agent comes down to how much support you want, how complex your situation is, and how large a refund you’re after. This guide compares all three so you can decide with confidence which option is best for you. […]
Saving Money: How to save a million dollars – plus how to save money faster
How Can I be Great at Saving Money? To save money, you don’t need to make huge changes to your lifestyle. You don’t have to somehow find a job earning 5 times your current salary. What you need is to simply make the decision and commit to saving some money, however much or little that may be. […]
Stage 3 Tax Cuts explained – what do they mean for you?
Stage 3 Tax Cuts in a snapshot Stage 3 tax cuts were adjusted from 1 July 2024, aiming to give a bit of a tax break to lower and middle income earners, compared to earlier tax changes that favoured workers already enjoying large salaries. Compared to the original tax cuts, the new changes help low […]
Generation Y could be losing thousands in tax refunds!
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 […]
Etax Fees: How much does a tax return cost at Etax.com.au?
Here’s everything you need to know about the low Etax fees and why Etax.com.au is Australia’s favourite online tax agent. Why is there a tax agent fee to use the online tax return at Etax? Etax is a registered Australian tax agent that offers you: Etax is like visiting an old-fashioned tax accountant – but quicker […]
Generation Y: The first generation to be poorer than their parents?
Parents from every place, in every era, share something important: We all want our children’s lives to be better, happier and more prosperous than anyone’s before. Could the opposite become reality for Australians? Baby Boomers may well be the first generation seen as wealthier than their children. That’s one of the conclusions drawn from a […]
HECS-HELP Benefit
The HECS-Help benefit was created to provide an incentive for graduates in particular fields to pursue industry relevant roles and/or work in specified locations. Taxpayers who meet the relevant eligibility criteria can apply to the Australian Tax Office for the HECS-HELP benefit and if approved, the ATO will pay a “benefit amount” up to approximately […]
How to apply for Jobseeker Payments (or other coronavirus stimulus payments)
Loosing your job is a stressful enough event on it’s own, take into account the global COVID-19 pandemic and the last thing you will want to have to deal with is the process of applying for a jobseeker payment at Centrelink. It is not easy to navigate the myGov or the Centrelink website. To make […]
How Can I Help My Children To Be Successful and Financially Secure?
How to improve your children’s financial future can be an interesting debate. Parents have lots of different ideas about success for their children (and themselves). But most parents share similar concerns and worries about their children’s long-term financial security and happiness. Money and happiness are not the same thing, but it appears that certain habits […]
