Individual Tax Deductions
 I have provided a bit of info about each of the main types of tax deductions.
Australian tax rules are not simple – which is why a lot of Australians pay a tax agent to do their tax return (and you can claim the tax agent costs under D10 in next years return – [...]

So with the end of the financial year coming up – people start to think about tax. What expenses can I claim?
Claim what you might be entitled to
The basics
You must incur the expense in the course of earning your assessable income that isn’t private, domestic or capital in nature.  And where it is partly private, etc. you [...]

If you earn A income you get B refund of your tax.
False. Your tax refund (or tax payment owing) is the net figure between Tax Payable (incl Medicare) + HELP repayment (if applicable) less any offsets and tax paid on your behalf.
For example if you had $10,000 interest income verses $10,000 employment income your refund [...]

I really don’t think young people know enough about how tax works (actually not just young people – nobody knows enough aboiut how it works).
I suppose for a lot of people it might not matter too much. A bit like how I think about my car. I just take my car to the mechanic when it [...]

A Capital Gain/(Loss) is an increase/(decrease) in the value of an asset from purchase to sale.
For example: If you bought shares for $1,000 and sold them for $2,000 then you would have a capital gain of $1,000.
Also, if you bought shares for $1,000 and sold them for $500 then you would have a capital loss [...]

Getting dividend income from shares is a way of getting income where you get a credit for tax paid by the company.

The Cut Off taxes program is yet another email scam designed to get your bank details and rip you off

Well at least the ATO is on the right track – they have FINALLY updated their notice of assessment format so it makes (slightly) more sense.

What to do if you are thinking of working for yourself or starting a business – GST, Employing Staff,

So actually if you earn $60,000 you will pay $12,000 tax (see table for other ‘average’ 2009 tax rates).