Cryptocurrency in Australia

Despite all the ups and downs and huge swings in value, a recent survey established that three quarters of Australians who have invested in cryptocurrency still managed to make a profit off their investment. In a 12-month period between July 2020 and July 2021, Australians on average made over $10,000 in profit from their cryptocurrency […]

The ATO Paid $5.3 Billion In Tax Returns During July 2021

Recently published figures from the ATO (Australian Tax Office) has shown that 2.1 million taxpayers across the country have so far received an average tax refund of $2,490 this contributing to a total of $5.3 billion, in the first four weeks into 2021 tax time. Assistant Treasurer Michael Sukkar tried putting a positive spin on […]

Claiming Tax Deductions Without A Receipt

Tax deductions are the main way you can improve your tax refund. In simple terms, deductions add fairness to the tax system; if you have to spend extra money that connected with how you earn a living, then you get something back for that. The ATO prefers that you keep a receipt for every expense […]

Reasons Why 1st July Is Too Early to File Your Tax Return

Millions of Australians are feeling enthusiastic about receiving their annual tax refund, but filling your tax return on 1st July has the potential to land you in some serious trouble with the tax office. The lure of a $1080 tax cut, available to millions of Aussies this financial year, might entice you to do your […]

An Important Reminder for Taxpayers to Keep Working from Home Records

Despite Australia faring much better than the majority of the world during the covid-19 pandemic, the working patterns of employees has changed in step with the rest of the world. Over the past 12 months millions of Australians have been forced to work from home. It is therefore crucial for taxpayers to keep a diligent […]

The ATO Resumes Debt Collection Intends Not to Destroy Businesses Post JobKeeper

The Australian Tax Office (ATO) has confirmed that it has recommenced pursuing and enforcing debt recovery. However, the tax agency has reassured businesses that it will refrain from going too hard too soon. Businesses who are struggling with tax debts have been encouraged to re-engage with the ATO as it promises it will not “destroy […]