What is the Medicare Levy? Have you ever looked at your Notice of Assessment or a tax refund estimate and seen a line for the medicare levy? Not sure what it is? Don’t worry, you’re not alone and this article has got you covered. For most Australians healthcare is essentially free. If you get […]
Tax Information for the Coronavirus Pandemic
Countless Australians have been affected by the COVID-19 pandemic. In response, the Australian Government has implemented a series of assistance measures for the purpose of helping those experiencing financial difficulty. Please read our tax guide for the coronavirus pandemic below for assistance. And if you work from home now, don’t forget you can also claim […]
What is the JobKeeper payment? Are you eligible?
As the COVID-19 pandemic worsens, the government has announced the JobKeeper payment aimed to ensuring as many Australians as possible stay employed. Not to be confused with the JobSeeker payment for those people out of work, the JobKeeper payment is a payment for employers to help keep employees on their books. How does the JobKeeper […]
How to survive the lock-down. Your guide to turning it into a positive
With all the social distancing and lock-down measures in place, how do you keep your mind occupied and engaged? For some people, being at home is bliss. For others, it’s hard to stay focused on anything. But time at home can be a valuable chance to reflect, connect and plan for the future. There are […]
Did COVID-19 turn you into work at home parents and teachers?
Temporary work at home parents-come-teachers. A few tips for navigating this new landscape. As 2020 dawned, no one in their wildest dreams expected the unprecedented global shift that COVID-19 has brought about. With many of us still trying to grapple with having our lives literally locked down, a significant number of us took our jobs […]
Lost your job due to Covid-19? What now?
What do you do if you’ve lost your job? Just a few months ago very few people had ever heard of Coronavirus but now that virus has literally and completely changed the way we live. With so many businesses shut down or reducing hours, thousands of people now face unemployment, or are struggling to make […]
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 […]
Coronavirus Stimulus Information for Small Businesses: Everything small businesses need to know
The devastating coronavirus pandemic has hit small businesses hard. As a result, a number of sole traders are without work and many small businesses closed their doors and let go staff. Consequently, the Australian Government recently issued two rounds of stimulus packages to help business owners. The first stimulus package on 12 March included a […]
Coronavirus Stimulus for Individuals: Here’s everything you need to know.
In the wake of the COVID-19 pandemic many Australians are currently facing severe financial hardship due to loss of employment or income. Therefore, the Australian Government has responded with two rounds of coronavirus stimulus for individuals. The first announcement on 12 March included a $17.6 billion stimulus package for individuals and businesses. The second announcement, […]
Property investors: Is your investment property tax smart?
With the ATO cracking down on investment property expense claims, making sure you’re ‘tax smart’ and in control of your finances is more important than ever. How do you keep your investment property expenses, taxes and finances in order? And how do you keep the ATO out of your hair? It all starts with good […]
Individual Tax Deadline – October 31st
The October 31st deadline for lodging Individual Tax Returns is approaching – but don’t panic! Let’s cover what you need to do to ensure you don’t miss the individual tax deadline or receive an ATO penalty. First of all, do you have overdue tax returns from earlier years? If that’s the case, the ATO NEVER […]
The First Home Super Saver Scheme (FHSSS): your guide to buying your first home sooner
If you’re someone who’s been saving for a first home deposit, then there’s one scheme you should know about. It’s called the First Home Super Saver Scheme (FHSSS). The point of the scheme is to help people of all ages get into their first homes sooner. It was introduced by the Australian Government in the […]
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 shine a light on people who have undeclared income missing from their tax returns, opening a new opportunity to catch people out and collect more tax from Australians who may understate their income. What […]
Don’t Be Afraid of the ATO at Tax Time
At the National Press Club, ATO commissioner Chris Jordan spoke about a change in tactics at the ATO, with a greater focus on work related deduction claims by individuals, representing $22 billion worth of claims made each year. A substantial portion of those claims are “mistakes” or “fraud” he said, although no evidence for this […]
myTax, Etax, tax agent office: “What’s the best way to do my tax return?”
Let’s compare myTax and other tax return options: What’s the best one for you? The ATO advertises a tax “product” called myTax – another way to self-prepare your tax return. As a taxpayer it is hard to know what to do. What is the best tax return and what are the alternatives? Let’s compare the […]
