Up-skilling to protect your existing job seems tough, but in recent years it’s become the norm across many industries. Plenty of jobs that used to be common just don’t exist anymore. When was the last time you saw a milkman doing the rounds? (Or, have you ever seen a milkman?) The flipside is that change […]
Your Tax and Finances
Your Tax and Finances: Money Tips | Budget and Savings | Superannuation | Rental Income
How much does a dog cost? – Really!
Get up to speed on the REAL cost of owning a dog, so you know what to expect before your commit. We’re not just talking about the purchase price, which can be eye watering, but the ongoing cost of owning a dog over its lifetime.
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 […]
How to save money – 3 money saving tips to ignite your savings
Struggling to grow your savings account? With so many increases in the cost of living, many of us are feeling the pinch in our savings accounts. We regularly hear of people actually having to dip into their savings to make ends meet, or to make purchases that just couldn’t be put off any longer. That’s […]
Division 293 Tax
What is Division 293 Tax? Division 293 tax is an additional tax on concessional superannuation contributions for high-income earners in Australia. Its purpose is to reduce the tax advantage that wealthier individuals receive on their super contributions, making the system more equitable. Who It Applies To You may be subject to Division 293 tax if […]
Claim Your Dental Expenses as a Tax Deduction
“Can my dental expenses be deducted on my tax return?” The short answer is likely no. Dental expenses were phased out by the ATO in 2014/15. If you have an overdue tax return from prior to 2014 and records of dental expenses you wish to claim, please read on to learn more. For everyone else, […]
How to Save Tax in Australia: 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 […]
The key to a better tax refund: Easy record keeping
Want to pay less tax and stress less at tax time? It all starts with how you manage your receipts and records through the year. The ATO is cracking down harder than ever on work-related deductions, so keeping clear, up-to-date records isn’t just helpful, it’s essential. Whether you’re a freelancer, side-gigger, or full-time employee, these […]
$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 […]
Low Income Super Tax Offset
If you’re a low-income earner, saving for your retirement can feel daunting. Fortunately, the Australian Government have some programs to help you prepare, including the Low Income Super Tax Offset (LISTO). What does the Low Income Super Tax Offset program offer? The Low Income Super Tax Offset is a government program to help low-income earners […]
Claiming the tax free threshold: What you should know…
What is the tax free threshold? The tax free threshold is the amount of income you can earn each year before you have to start paying tax. In Australia, the first $18,200 you earn between 1 July and 30 June is tax-free, regardless of which employer you earned it from. NOTE: The ATO’s definition of […]
How To Do Your Best Tax Return and Boost Your Refund
Many Australians lose hundreds of dollars each year – simply because they forget about work-related deductions and the receipts for items they can claim. Do you compare your tax refund to your friends and family and wonder, “How can I get a better refund”? There are many ways Australians can improve their tax refund. Unfortunately, […]
Death and Taxes – What You Need to Do
Any death in the family is a very difficult time for all involved. Apart from the emotional burden, there are also a range of administrative tasks that need to take place after a bereavement. This death and taxes article covers the main steps family members should take to ensure tax obligations are met. Death […]
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 […]
