What do you do if you can’t work due to COVID? With self-isolation rules relaxing, the Government is no longer providing the Pandemic Leave Disaster Payment. Instead, the High-Risk-Setting Pandemic Payment has taken its place but is not available to everyone. Luckily there is some help out there to help you stay afloat if you […]
Your Tax and Finances
Your Tax and Finances: Money Tips | Budget and Savings | Superannuation | Rental Income
5 Smart Ways to Use Your Tax Refund
We’re often asked the smartest ways to use your tax refund – so we’ve collated a quick list of tips and ideas! How to spend your tax refund to get ahead 1. Pay off your debts Probably the very smartest way to use your tax refund is to pay off any bills or credit cards. […]
How to cut expenses and save more money
Do you want to cut your living expenses or just want to save more money? The following tips help to give you more control over your finances. In a world where anything can happen – and does – that’s something we all need. Giving yourself a regular financial health check each year helps rein in […]
How to Claim Personal Super Contributions Tax
Invest in your future by adding money to your superannuation AND score some savings at tax time. Sounds great, right? Let’s cover how to claim your personal super contribution tax on your next return. Most Australians know that super is money for retirement. What’s less well known is: What is Super Contributions Tax? A personal […]
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 […]
Capital gains tax: Does it apply to you?
What is capital gains tax? Capital gains tax (CGT) is the tax you pay on profits you make from the sale of a capital asset such as real estate or shares. A capital gain is when you sell a capital asset for more than you originally paid for it. You are required to pay tax on […]
How to claim tax deductible donations
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 […]
Work-related travel expenses – what can you claim?
Work-related travel expenses are costs you incur while travelling for work, separate from your regular commute. If you travel for work and pay out of pocket for transport, accommodation, or meals, you may be able to claim those costs as a tax deduction on your Australian tax return. Read on to find out exactly what […]
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 […]
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 dividend tax rules can suddenly seem very confusing. What are the tax benefits of fully franked dividends and franking credits? Think back to the 2019 Federal election, when ‘franking’ was […]
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 […]
The 5 most common Australian tax return mistakes (and how to avoid them)
These common tax return mistakes are easily detected by the ATO The five most common tax return mistakes Australians make are incorrect income reporting, inflated deductions, undeclared overseas income, rental property over-claims, and deductions without receipts. The ATO works hard to find mistakes on your tax return, and with more funding and staff each year, […]
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 […]
