Salary sacrifice arrangements, also known as salary packaging, can be a smart way to get ahead, but it can also get confusing. Essentially, salary sacrificing means you use a portion of your pre-tax income in exchange for certain benefits or items. And, as you use your pre-tax income, you pay less tax overall. Many employers […]
The Etax Blog: Tax Tips
Fringe Benefits Tax (FBT)
Whether you receive fringe benefits as part of your employment contract or a salary sacrifice package, it’s important to understand how fringe benefits tax affects your tax return. Your employer must pay any tax applied to the fringe benefits you receive, but you will also need to report them on your tax return. What are […]
Investment property tax deductions under the ATO spotlight
Australian investment property owners may be on a collision-course with the Australian Tax Office (ATO) in 2025, over incorrect claiming of tax deductions. Along with the rising cost of living and borrowing rates in Australia, the estimated 1.7 million people who own a rental property will also have their investment property tax deductions put under […]
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 […]
Actual Cost Method
The Actual Cost Method is one of two methods available to taxpayers to claim their work from home expenses. As opposed to the fixed cost method where you claim 70c per hour worked from home, the actual cost method involves claiming the actual cost you incurred for items like phone, internet and electricity while working […]
Tax Information for People Affected by Natural Disasters
Natural disasters take an incredible toll emotionally, physically and financially. In times like this, it’s vital to know your entitlements and where you can go for help. If a natural disaster has affected you or a loved one, please read our guide below for assistance. Need more time to lodge, pay or respond to the […]
What are the maximum super contribution and tax rates?
When you know the super contribution limits and rates – and the different ways to add money to your super – you can boost your annual tax refund and save painlessly for your retirement. A healthy superannuation fund is an important part of planning for your retirement. Putting extra money into your superannuation is a great investment in your future. […]
7 Smart Ways to Use Your Tax Refund
The smartest way to use your tax refund depends on your situation. For many people, paying off high-interest debt like credit cards and building an emergency fund come first. After that, you could put your refund towards your mortgage, your super or a savings goal. At Etax, we hear from lots of Australians about their […]
Save Receipts and Deductions to Fast-Track Your Next Tax Return
The best way to tackle next year’s tax deductions is to save ALL your tax receipts – but that’s not always easy. Did you get to tax time this year and wonder where your other expenses have gone? It’s SO annoying when you realise you can’t claim back the hard-earned cash you spent on work-related […]
The First Home Super Saver Scheme (FHSSS): your guide to buying your first home sooner
If you’re someone who’s been saving for a first home deposit, then there’s one scheme you should know about. It’s called the First Home Super Saver Scheme (FHSSS). The point of the scheme is to help people of all ages get into their first homes sooner. It was introduced by the Australian Government in the […]
Crypto Tax Australia – Your Guide to Cryptocurrency and Your Tax Return
The use of cryptocurrency is growing every day in Australia, but what actually is it? More importantly, how does crypto tax affect you? First things first: What is cryptocurrency? Cryptocurrency, usually shortened to crypto, is used to describe a digital or ‘virtual’ currency. Crypto is similar to normal currency when it comes to spending but […]
Can’t work due to COVID? What help is available?
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 […]
COVID Tax Deductions (And Other Changes To Your Return)
It’s no secret that the global COVID-19 pandemic changed many aspects of our lives and now that COVID appears to be here to stay, it’s time to learn what it means for your tax return. If you’re like the millions of other Australians who’ve had their work arrangements change, it’s important you understand how your […]
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 […]
Claim tax deductions to get a better tax refund
If you’re not sure how to claim tax deductions or what you’re actually allowed to claim, you’re not alone! The most common things our clients ask us is, “exactly what tax deductions can I claim on my tax return?” When you claim tax deductions the right way, you get more cash back in your pocket at […]
