When you give money to a charity, your gift is often a tax deductible donation Like many Australians, you might have a charity or cause that’s close to your heart. Tax deductible donations are a great way to give your tax refund a boost, while contributing to a worthy cause you care about. It really […]
Your Tax and Finances
Your Tax and Finances: Money Tips | Budget and Savings | Superannuation | Rental Income
Work related travel expenses – what can you claim?
Let’s explain how to turn work related travel expenses into dollars in your pocket at tax time. What exactly is a work-related travel expense? If you travel for work, any purchases you make related to that travel, can usually be claimed as a work related travel expense on your tax return. Of course, there are […]
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 […]
Loyalty Tax – What is it and how to avoid paying it.
What is Loyalty Tax? Firstly, it’s important to note that Loyalty Tax has absolutely nothing to do with the ATO. Loyalty tax is a sneaky, underhanded way that companies extract money from all of us us. Fortunately, loyalty tax is avoidable. Some of the most well-known and trusted companies in Australia apply a loyalty tax […]
What are franked dividends and how do franking credits work?
Approximately one-third of Australians own shares held directly in their name. It’s really quite common, and many of them receive dividends on those shares. But when it comes to how dividends are taxed, it can suddenly seem very confusing. What are the tax benefits of fully franked dividends and franking credits? Think back to the […]
Worried about job security? Up-skill to protect yourself!
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 […]
Getting Married and Taxes: What you need to know for your next tax return
Marriage is an exciting and joyful time, but when it comes tax and your spouse, it’s also a source of confusion amongst taxpayers in Australia. At Etax, prospective newlyweds often ask us about the tax implications of getting married. Often, they want to know whether a joint tax return is needed when their relationship status […]
Heading overseas to Work? You need our Australian expat tax guide!
Traveling to work or study overseas is hugely exciting but when it comes to Australian expat tax obligations, there can be a bit of administration and paperwork that comes with the move. Read on to make your transition to working overseas easier! Australian residency and tax All Australian residents are required to lodge tax returns […]
Saving Money: How to save a million dollars – plus how to save money faster
How to be great at saving money It’s a comfort to know you can get your hands on some money quickly if you need it – without resorting to a loan from a bank, family or friends. It’s also a comfort to know you’ll be able to reach goals like buying a home and retiring comfortably. […]
5 Common Tax Return Mistakes
These common tax return mistakes are easily detected by the ATO The ATO works hard to find mistakes on your tax return. With more money and staff granted to them every year, it’s getting easier for the ATO to catch every mistake. So, if you think you can get away with a few extra deductions […]
What is STP or Single Touch Payroll?
What is Single Touch Payroll? Single Touch Payroll (STP) makes payroll reporting far easier for employers. Instead of juggling a raft of paperwork, your boss reports payroll details including super payments, to the Australian Tax Office (ATO) on or before each pay day. New payroll software now looks after that. Each time your pay is […]
Shared Finances vs Separate Bank Accounts – Which is Right For You?
At some point, every couple has the shared finances vs separate bank accounts conversation. But, as with all money-related matters, it’s rarely a straightforward process. Let’s look at the 3 most common options, to help you choose what kind of finance strategy may work best for you… 1. 100% Shared finances The ‘traditional’ idea of […]
Tax Guide For Couples: How does having a spouse affect your taxes?
This tax guide for couples helps you determine whether you need to include your partner’s information on your next tax return. Read on to learn what you should tell the ATO this year… Who the ATO defines as a spouse for tax purposes is a common cause of confusion. Once you’re familiar with the definitions, […]
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 […]
Private health insurance rebate tiers to ease health cover confusion
Private health insurance had a much-needed overhaul back in 2019 that introduced structured health insurance rebate tiers. With confusion growing over what health insurance policies did and didn’t cover, the aim of the new health insurance rebate tiers system is to greatly simplify the process. Making purchasing the right level of health cover for your […]
