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6 Facts of Tax – Why your deductions are worth more and you pay less tax than you might think You probably pay less tax than you think and your deductions are worth more than you realise. Read the 6 facts of tax and check out the tables below to understand: Why you pay less tax than you might

Posted in Making Money, Tax

Got Married or changed your name – tell the ATO or your refund will be delayed   If you have changed your name, the ATO are now holding tax refunds until the ATO has been provided with proof of the name change.   Most commonly, this would occur if you got married recently, but of

Posted in Life, Tax

Don’t wait until 31 October to get a tax agent or lodge your tax return   A girl I worked with told me that she had prepared her tax return but was waiting until 31 October to lodge her tax return. I told her a few reasons why that wasn’t a good idea:  

Posted in Life, Tax

When will I get my tax return refund and what can I do if it doesn’t come?   Below is information on how quickly you should receive your tax refund, and what to do if you don’t receive it. Most refunds within two weeks, nearly all within three The ATO processes most individual tax returns within

Posted in Life, Tax

Why your net pay has reduced Happy new financial year! You have probably by now received your first pay for the 2015 financial year. Unfortunately, there are a few reasons why your take home pay has reduced from last financial year.   New financial year

Posted in Tax

When you can’t claim losses from your new business against your salary If you start a business in your own name (or partnership) you may not be able to claim losses you make against other income. There are special rules called non-commercial loss rules or tests.   How the non-commercial rules

Posted in Business, Tax

Get a tax deduction for donating shares   If you have shares that are not worth selling or not worth much, you should consider giving them to charity.   Give your shares away and get a tax deduction will sell your shares. What’s more, if

Posted in Shares, Tax

Reasons to do your tax return before 15 May due date If you have a tax agent your tax return may be due as late as 15 May, but below are a few reasons why you should not leave your return to the last minute.   Your accountant may get

Posted in Goals & Personal Development, Tax

FREE on Kindle – Increase your refund   FREE – Increase your refund: Australian tax return tips for employees I have decided to list my book for FREE on Kindle until 5:59pm this Sunday. You can download your free copy of the book at  

Posted in Freebies and Discounts, Tax

Why tax deductions and offsets might not matter once you don’t pay tax   What is the value of tax deductions? The value of your tax deductions depends on your marginal tax rate. If you earn over $80,000, every $1 of deductions will reduce your tax by 37% and 1.5% Medicare levy

Posted in Tax

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