The Federal Government Announces Tax Cuts Aiming to Reduce Unemployment
As part of the upcoming federal budget, the Australian Government has announced that it will give 10 million working Australians a one-off tax cut. The purpose of this incentive is to boost the economy as it has been revealed that the number of long-term unemployment across the country is drastically increasing despite Australia’s quick rebound […]
Tax Deductions for Trainees and Apprentices
Commencing a trade or traineeship involves long hours spent learning the ropes in your chosen field. It’s a common misconception that apprentices or trainees can’t claim much on their tax return. This is not necessarily the case, because even though you’re just starting out as a trainee or apprentice, there are many deductions available that […]
Tax Advice for Australians Who Have Been Affected by Natural Disasters
Apart from the obvious and tragic devastation that is inflicted upon a person’s property during a natural disaster these types of events such as a flood or a fire can also result in the loss of income for many affected people. This can come about as a result of the damage done to workplaces, vehicles, […]
Tax Deductions Available for Nurses & Midwives
If you are a nurse, midwife or another kind of health professional, it is common for you to purchase work-related items and pay for them with your own money. It is important is be aware that these out-of-pocket expenses are often valid as tax deductions which you can claim on your next tax return. Here […]
Some of the Best Ways to Use Your Tax Refund
The money you are refunded as a result of your tax return could be used as an opportunity to eliminate debt, increase your savings or do something ‘long-term’ to support your children. Here are some tips to better utilise the money you get from your tax refund as opposed to going straight to the shops […]
Tax Deductions for Hospitality Workers
The hospitality industry has been one of the hardest hit sectors during the covid-19 pandemic. To make your financial situation less difficult it is important for hospitality workers to be aware of the many tax deductions that they are entitled to thus allowing them to put a huge amount of hard-earned cash back into their […]
How to Claim A Tax Deduction Via the Car Logbook Method
One of the most effective ways to increase the amount of money you receive on your tax return is to claim a deduction on your travel expensive. The car logbook method is a common way to track your car expenses. If you use your car for employment purposes, the Australian Tax Office will allow […]
The ATO Raises Key Rates For Australians Wanting To Top Up Their Superannuation
The Australian Tax Office (ATO) has decided to increase some of the key rates and thresholds for people who are wanting to top up their superannuation. On 1st July 2021, concessional and non-concessional contribution caps and the general transfer balance cap will increase for the first time in four years. Under the current laws, employers […]
The Tax Consequences for Business Events Ahead of Trans-Tasman Travel Bubble
On Monday 19th April 2021 the Australian and New Zealand federal governments plan to lift international border restrictions between the two countries. As a result of the travel ban coming to an end corporate events will become a more frequent occurrence “extravagant” corporate events are likely to pique the interest of the Australian Tax Office. Australian […]
The ATO Announces a Permanent Review Service for Small Businesses
On Friday 26th March the Australian Tax Office (ATO) announced that it will permanently install its independent review service following a successful three-year pilot program which gained the approval of its participants, whether they got the outcome they hoped for or not. In a statement released by the ATO, the tax agency proclaimed that the small businesses […]