A simple guide to getting your Airtasker taxes right Airtasker has changed the way many people earn an income. Whether you’re already doing tasks or you’re ready to get started, there are some important tax implications you need to know. The big message here is, don’t be duped into thinking you can squirrel away that […]
$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 11.5% 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 […]
Live-in Landlord Tax Deductions: What you should know about rental income tax
Live-in landlords are common these days, as more and more people choose to lease out rooms in a house they own and live in. It can help pay the mortgage, cover the rising costs of living expenses and fill up space that’s otherwise unused. If you lease out part of your home, you’ll receive rent. This is […]
Corporate Tax Avoidance and Tax Gaps: What is it costing Australia?
A common theme in ATO messages this year has been that big businesses are generally doing the right thing. They’re lodging income tax returns accurately and paying the correct amount of tax. Interestingly, corporate tax avoidance is absent from their narrative. Instead, concerns focus on individual taxpayers who over claim deductions. However, the recently published […]
Work at home parent – the ultimate balancing act
How do you build your business when you’re a work at home parent and your adorable darlings are doing their utmost to distract you with death defying leaps, or throwing tantrums that could literally wake the dead? The ultimate guide to finding a work/life balance for work at home parents OK, so you were never […]
Being made redundant could re-ignite your career: Redundancy tips from a careers expert
Being made redundant is often a tough thing to overcome. Yet, an amazing two per cent of Australian workers experience it every year! We spoke to Australian career advice expert Russell Johnson, a career planning veteran with CEO-level experience in Australia and the US, to get a fresh perspective on being made redundant. Russell also […]
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 […]
Redundancy Payment and Your Taxes
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 […]
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 […]
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 […]
An Uber Driver’s Tax Case Study: 8 steps to do Uber the right way
When you drive for Uber, it’s important to know what your Uber driver tax obligations are. This driver got it right from the start. Here’s how: Judah is a professional person working a professional job. He’s university-educated with a full time job in his chosen career. Judah is also an Uber driver, and he’s doing […]
Gender Pay Gap: Why do women still earn less than men in Australia?
It may be a surprise to some that the gender pay gap still exists. Many of us assume that gender inequality has been overcome in Australia. That might be true in some respects, but unfortunately not where income is concerned. The fact is, on average, women still earn 15.3% less than men – a gap […]
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 […]
Tax loopholes: Corporations pay less tax than Aussie workers
Should businesses shoulder a fair share of taxes compared with hard-working Australian people? We might see this question discussed more in coming years. Using an international shell-game to move earnings away from the tax man, corporations legally avoid taxes in countries like Australia, even though they earn billions here. Similar tax breaks are simply not […]
How much super do I need for a comfortable retirement?
Everyone has different ideas of how their retirement might ‘look’. How much super will be enough depends on many things, starting with what a ‘comfortable’ retirement looks like to you. You might want to travel or you may want to dine out every week at a fancy new restaurant. It could be that just want […]