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 Deductions for Freelancers
Going it alone? Make sure you don’t miss out on any tax deductions for freelancers So you’ve made the break from your grumpy boss and skipped out of the office with your pot plant under your arm and your favourite stapler in your pocket. The first thing we’ll say is “Congratualtions!” It takes guts to […]
ATO to Share Bank Account Details with Overseas Governments
The ATO will share people’s bank account details with other governments and automatically detect overseas bank accounts to reveal tax evasion In a move aimed to find taxpayers who do not declare income or savings in different countries, the ATO will join tax departments world-wide to share taxpayers’ overseas bank account details. The ATO will […]
Uber tax issues: A tax guide for Uber drivers
Uber has taken Australia by storm as a new way of earning additional income. But there may be serious Uber tax problems ahead unless you do it right. Uber is a unique, flexible opportunity to earn a side income for almost anyone with a good car. But there are important things to consider regarding how […]
An Uber Driver’s Tax Case Study: 8 steps to do Uber the right way
A bit of preparation and a few smart tips helped this Uber driver get off to a great start, with no worries about the ATO. Judah is a professional person working a professional job. He’s university-educated and works all week in a demanding job where he’s building a career. Judah is also an Uber driver […]
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 […]
Bracket Creep Means Australians Pay Billions More in Taxes
(Updated June 2015) Bracket creep, also referred to as a “tax trap”, will see Australian workers move into higher tax brackets as a result of wages rising in line with inflation—and reap the Government an extra $25 billion over the next four years—according to new research conducted by the National Centre for Social and Economic […]
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 […]
Is Your Tax Refund Affected by the New Private Health Rebate Changes?
A very common question from taxpayers this year: What’s the ‘private health insurance liability’ on my tax return?” In short, the private health insurance liability is an amount you have to pay back at tax time if you over-claimed the private health rebate during the year. This stems from the Government’s 2012 changes to the […]
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. You may want to dine out every week at a fancy new restaurant. You might just want to help your […]
Sorry! An Embarrassing Mistake
This week at Etax we’ve been very excited about the release of our new 2014 tax return. It includes a lot of hidden, technical wizardry that makes the tax return more transparent and easier for Australians. Ten high-skilled software developers have worked hard for a year to build it and we’re proud that an independent […]
Introducing the Etax.com.au 2014 tax return
The 2014 Tax season is less than two weeks away and we’ve got some big news to share with you… The Etax.com.au 2014 tax return is improved, better than ever and it’s ready now. At Etax we live by our motto “making tax easy”. After a huge upgrade for 2014, we hope you’ll agree that […]
ATO to investigate 10 million taxpayer financial records
The latest ATO welfare and tax crackdown will see the financial records of over 10 million Australian taxpayers go under the microscope in the coming months. What is the ATO looking for? Here are a few highlights in the latest ATO crackdown: Credit Cards: The ATO has requested taxpayers’ credit card records from 10 major banks, […]
ATO Collecting Your Financial Information to catch Tax Cheats in 2013
Did you know that the ATO can access information from YOUR employer, bank, super fund, credit card, insurance funds, government departments and more? They have powerful ways to check that the information you’ve declared on your tax return is correct and catch out those tax cheats who incorrectly claim more than they’re entitled to. In […]
