With the end of the financial year fast approaching, it’s a good time to discuss tax deductions – especially those deductions often missed by taxpayers like you. We surveyed our senior accountants and asked them “what are the top 5 forgotten deductions on individual tax returns?” – that is, deductions people can claim, but often […]
The Etax Blog: Tax Tips
Holiday Rental Tax Deductions: The Basics
Do you own a holiday rental property? You could be eligible for valuable holiday rental tax deductions. Holiday rental properties are a common type of investment property in Australia. Holiday rentals are often managed by an agent or real estate company, for a fee. Although the operating costs can be higher than other rentals, the […]
How To Claim Your Car Expenses – The Car Logbook Method
The Car Logbook Method is a good way to track your car expenses and claim them on your tax return (to increase your tax refund) (Updated for 2017, because the car logbook is now one of only two car expense claim methods allowed by the ATO) If you’re a small business owner and you use […]
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 some of the tax deductions they’re entitled […]
Teachers’ tax deductions can really boost your tax refund (with Infographic)
“I’m a teacher. What tax deductions will the ATO allow?” Like many professionals, teachers often pay for work related expenses out of their own pockets. In most cases, these items can become valuable tax deductions for teachers. As a teacher, the tax deductions you claim back significantly improve your tax refund – if you know what […]
Can My Friend Do My Tax Return For Me?
Do you have a friend who seems unfazed by doing their taxes? (Wouldn’t that be nice!) You might have wondered, “Can I just get my friend do my taxes for me?” Okay, the basic answer is a firm “no”. There are some important reasons you should not pass your taxes over to a friend. But don’t worry – […]
Saving Money: How to save a million dollars (really) – plus how to save money faster
How to be good at saving money It’s a comfort to know you can quickly get your hands on some money 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. […]
Tax Deductions for Nurses (with infographic)
As a nurse you might purchase items that are work-related and pay for them yourself. Many common nursing expenses that get paid out-of-pocket are also valid tax deductions for nurses. Below we’ll cover a range of tax deductions nurses commonly claim, to help you get the most out of your next tax return. Common tax […]
The key to paying less tax is good record keeping
Some good (but simple) record keeping habits can put extra money into your tax refund! The ATO’s recent crackdown on tax deduction claims means that good record keeping is more important than ever. On top of that, if you simply forget about things you paid for and could have claimed – what a waste. A […]
Truck driver tax deductions – What you can and can’t claim
Put your taxes into a higher gear: Claim ALL the truck driver tax deductions you’re entitled to! Spending so much time away from home becomes expensive for truck drivers. Thankfully many of those expenses can be claimed as truck driver tax deductions on your annual tax return. As you would expect, maintenance and repairs of your vehicle as well as running costs […]
Rental Property Tax Deductions – made easy!
Rental property tax deductions can be confusing so we thought we would expel a few myths and clarify a few essentials when it comes to claiming your property expenses. Often, a rental property is expensive to maintain, especially if you have gaps between tenants. However, provided you purchased a solid property in a good or progressive suburb, it generally […]
Tax Deductions for Tradies – Give your refund a boost! (with Infographic)
“I’m a tradie. What tax deductions can I claim?” People who work in a trade such as builders, plumbers and electricians to name a few, often pay for work-related expenses out of their own pockets. And when you’re working long hours or busy meeting deadlines, it doesn’t leave you much time or energy to think […]
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 […]
2017 Budget for Health Care: Who wins and who loses?
The 2017 Budget was handed down by Treasurer Scott Morrison on Tuesday 09 May, which included the Government’s $10 billion plan for Health Care funding. Most notably, the National Disability Insurance Scheme is being fully funded by taxpayers through a Medicare levy increase. Here’s our wrap-up on winners and losers in the 2017 federal budget for […]
Tax Return 2017:
How to do your taxes in 2017
Your 2017 tax return is for income that you earn between 1 July 2016 and 30 June 2017. Important: The 2017 tax deadline was 31 October 2017. Unless you already have an ATO extension, your 2017 tax return is now overdue. You can finish your 2017 tax return in minutes right now at Etax.com.au and get […]
