You may still need to lodge a tax return. Many Australians on the aged pension are unsure about their taxes and what their obligations are once they are no longer working? Common questions from pensioners include… In this post we’ll discuss the different circumstances where you may (or may not) need to lodge a tax […]
The Etax Blog: Tax Tips
Tax Cuts 2019 – How do they affect your tax refund in 2020?
Tax cuts announced for 2019 mean a lot of Australians get a little boost to their tax refund this year. Like most things at the ATO, it’s complicated. However, the main point is this: You don’t need to do anything.
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 […]
Tax Cuts Announced for 2020-21
Federal Government brings forward tax cuts for the 2020-21 financial year To stimulate a struggling Australian economy, the Australian Federal Government has brought forward Stage 2 of their planned tax cuts and back dated them to 01 July 2020. The cuts originally penned to come into effect July 2022, will now take place in the […]
Ironing Out Laundry Expenses for Uniforms
Do you wear a uniform to work? If it falls into any of the categories we discussed in our uniform expenses post, you can also make a claim for the cost of laundering those uniforms. The way you calculate your laundry expenses will depend on your how you clean your uniform. We’ve created the following […]
ATO Data Matching – What is it and will it affect me?
You may have heard that ATO data matching technology is now being used in Australia. The ATO launched the system to find missing income from individual tax returns. It’s a new, more sophisticated way to collect more tax from taxpayers who may, either accidentally or deliberately, understate their income. What is ATO Data Matching? ATO […]
Australians Think the Wealthy Should Pay More Tax
The majority of Australians appear to feel that the wealthy should pay more tax. 60% of respondents in a recent ACTU survey support raising taxes for Australia’s highest income earners. Major findings of a recent ACTU study include: Support for raising taxes for people who earn more than $200,000 per year. Support for cutting taxes for […]
The Etax Accountants blog is here!
Welcome to the newly launched Etax Accountants Blog: Tax Tips for Australians. Our accountants have been hard at work preparing for the beginning of this year’s Tax Season. And, with July 1st only 10 days away, it is with great excitement that we have launched this invaluable resource for all Australian Tax Payers (and anyone […]
Bankers Call for Tax Cuts for Parents
The government’s October tax forum is fast approaching. Industry body, the Australian Bankers Association (ABA) has called for increased tax cuts for parents. Also, the simplification of complex taxes at both a State and Federal level. Help and Tax Cuts for Parents In the ABA’s eyes, the biggest concerns everyday Australians are currently faced with is […]
Private Health Rebate: How does it impact my Private Health Insurance?
The private health rebate is a percentage of the total premium amount which can be applied as a reduction to your health insurance premiums or it can be applied as a refundable tax offset come tax time. What impacts my private health rebate? Your rebate is calculated based on your living status, age and income […]
An Uber Driver’s Tax Case Study: 8 steps to do Uber the right way
When you drive for Uber, it’s important to know what your Uber driver tax obligations are. This driver got it right from the start. Here’s how: Judah is a professional person working a professional job. He’s university-educated with a full time job in his chosen career. Judah is also an Uber driver, and he’s doing […]
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. Although the operating costs of a holiday rental property can be higher than other rentals, rents are higher too. So, when well managed and maintained, the […]
ATO tax payer investigation: 10 million taxpayer records under scrutiny
The latest ATO investigation will see the financial records of over 10 million Australian taxpayers go under the microscope. What is the latest ATO Taxpayer investigation looking for? Here are a few highlights in the latest ATO Investigation: How do I avoid an investigation? If you’ve correctly declared all of your income and expenses then you […]
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 […]
ATO to Share Bank Account Details with Overseas Governments
The ATO will share people’s bank account details with other governments and automatically detect overseas bank accounts to reveal tax evasion In a move aimed to find taxpayers who do not declare income or savings in different countries, the ATO will join tax departments world-wide to share taxpayers’ overseas bank account details. The ATO will […]
