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 […]
The Etax Blog: Tax Tips
Sun Protection Tax Deductions: Are you covered?
There are many professions that require employees to work in the sun for periods of time. With sun exposure one of the key causes of cancer in Australia, sun protection is an absolute necessity for these people. However, sunglasses, sunscreen and protective head gear can end up costing a lot of money. So what can you do? If you’re […]
Work Uniform Expenses: The tax deductions you can and can’t claim
Save money by claiming your work uniform expenses on your tax return There are many types of jobs that require you to wear a uniform and/or protective clothing. Many organisations don’t provide these, or at best offer them at a discounted price to their employees. Work uniform expenses soon mount up, especially when they are […]
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 […]
Tax Deductions for Labourers
Manual labourers are the driving force behind a range of industries including construction, agriculture, road works and more. The hard work they put in contributes directly to Australia’s essential infrastructure. And, with all the long hours, it’s not surprising that many lose track of their expenses and or just aren’t sure what labourer tax deductions […]
Motor Vehicle Data Matching in Full Swing at ATO
In its crusade against what they call the cash economy’, the ATO has announced plans to collect the details of all individuals and businesses that have purchased or acquired a vehicle where the transfer and/or market value is $10,000 or greater in the 2011-12 and 2012-13 financial year. This involves computerised “motor vehicle data matching” […]
New carbon tax had no effect on inflation
Private analysts TD Securities-Melbourne Institute’s inflation gauge rose 0.6 per cent during August. But, according to their head of Asia Pacific business, Annette Beacher, this was not due to the introduction of the Carbon Tax. A few goods and services increased in price during August which contributed to the 0.6% increase, however there were also […]
27 Valuable Investment Property Tax Deductions
By including rental property expenses on your tax return you access an incredible range of possible tax deductions that boost your tax refund and leave more rental income in your pocket. It’s important to stay on top of your investment property taxes and claim deductions correctly to maximise your tax refund (without getting into hot […]
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 […]
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 […]
Overseas Forces Tax Exemptions – Do They Apply To Me?
Are you a member of the Australian Defence Force who served overseas during the past tax year? If your deployment meets certain criteria you may qualify for one of the overseas forces tax exemptions on your income. In this post we’ll discuss the two overseas forces tax exemptions available to overseas forces and how to work […]
Top 3 Missed Tax Deductions
A great way to increase your annual tax refund is to claim tax deductions. People often ask us what tax deductions people often miss out on, so here is a quick list that might help boost your tax refund this year. Avoid these 3 commonly missed tax deductions… 1. Claim Union and Registration Fees Do […]
Don’t Be Afraid of the ATO at Tax Time
At the National Press Club, ATO commissioner Chris Jordan spoke about a change in tactics at the ATO, with a greater focus on work related deduction claims by individuals, representing $22 billion worth of claims made each year. He said a substantial portion of those claims are ‘mistakes’ or ‘fraud,’ although he did not discuss […]
Tax Bracket Creep in Australia: What Is Bracket Creep, And How Does It Affect You?
Bracket creep is a situation in Australia where inflation and wage increases push more and more people into higher tax brackets. The result is that income tax takes more and more of people’s earnings, even though the Government did not formally raise tax rates. Let’s dig into the concept of bracket creep, its impact on […]
The Low and Middle Income Tax Offset (LMITO) is Over – What Does it Mean for You?
We all enjoy an extra boost in our tax refund. Most recently, the low and middle income tax offset (LMITO) has helped boost refunds for millions of Aussie workers. The government introduced LMITO in the 2018-19 tax year and increased in value in 2021-22 with an additional “cost of living tax offset”. Unfortunately, the end […]
