Welcome to the October issue of the Tax Tips newsletter.
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If you or your friends and family haven’t finished your 2014 tax return, get it in before 31 October or you could face an ATO penalty… head to www.etax.com.au and finish in just 15 minutes!
This Month’s Tax Tips…
- If you’ve got private health cover, read about these latest changes… this could cut into your tax refund if ignored.
- Looking at the widening gap between men’s and women’s salaries in Australia.
- Helpful new articles about Superannuation in Australia. How much will you need to retire?
Click over to the Etax Blog and read more…
A very common question from taxpayers this year:
“What’s the ‘private health insurance liability’ shown on my tax return?”
In short, the private health insurance liability is an amount you have to pay back at tax time if you have over-claimed the private health rebate during the year.
This is directly linked to the 2012 changes to the private health insurance rebate you get from the government.
In the past, this rebate was a standard 30% regardless of your income. Not anymore…
It’s not uncommon that the media in Australia points out that women’s salaries lag behind men’s salaries. For many people, the frequency of these stories is surprising because we often assume that a degree of gender equality has been achieved in Australia.
This might be true in some respects, but not where income is concerned.
The fact is, the gap between men’s and women’s incomes is widening.
Looking at ATO and ABS data on income, our people noticed an interesting way to visualise the annual income discrepancy between women and men.
Don’t forget… only 2 weeks to go until the 2014 Tax deadline… don’t miss out and risk unnecessary ATO fines!
You’ll just need a few minutes: click here to get started!
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While every care has been exercised in the compilation of this newsletter, Etax, in making it available to you, will not be liable for errors or omissions in the material or data in the newsletter, or for any consequences arising from such errors or omissions. This newsletter should not be relied upon as a substitute for detailed advice.
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