If you’re someone who’s been saving for a first home deposit, then there’s one scheme you should know about. It’s called the First Home Super Saver Scheme (FHSSS). The point of the scheme is to help people of all ages get into their first homes sooner. It was introduced by the Australian Government in the […]
Pay Off Your Credit Card or Invest? What’s the Smartest Move?
Is it best to pay off your credit card straight away? Or do you make more money by investing in a high-interest account or shares? When it comes to simple savings strategies, this should be one of the first questions you ask. And thankfully, we’ve got all the numbers to help you decide. Credit Card […]
$1,700 in Unpaid Super Every Year – Here’s What You Can Do About It
Would it bother you if your weekly or fortnightly pay was consistently 11.5% short? Once you noticed, would you do something about it? If you’re like most Australians, the answer would be a resounding “Yes!”. Here’s the scary part: this is exactly what’s happening to as many as one in three Australians. So, what’s the […]
Live-in Landlord Tax Deductions: What you should know about rental income tax
Live-in landlords are common these days, as more and more people choose to lease out rooms in a house they own and live in. It can help pay the mortgage, cover the rising costs of living expenses and fill up space that’s otherwise unused. If you lease out part of your home, you’ll receive rent. This is […]
Corporate Tax Avoidance and Tax Gaps: What is it costing Australia?
A common theme in ATO messages this year has been that big businesses are generally doing the right thing. They’re lodging income tax returns accurately and paying the correct amount of tax. Interestingly, corporate tax avoidance is absent from their narrative. Instead, concerns focus on individual taxpayers who over claim deductions. However, the recently published […]
Work at home parent – the ultimate balancing act
How do you build your business when you’re a work at home parent and your adorable darlings are doing their utmost to distract you with death defying leaps, or throwing tantrums that could literally wake the dead? The ultimate guide to finding a work/life balance for work at home parents OK, so you were never […]
Being made redundant could re-ignite your career: Redundancy tips from a careers expert
Being made redundant is often a tough thing to overcome. Yet, an amazing two per cent of Australian workers experience it every year! We spoke to Australian career advice expert Russell Johnson, a career planning veteran with CEO-level experience in Australia and the US, to get a fresh perspective on being made redundant. Russell also […]
2017 Budget for Health Care: Who wins and who loses?
The 2017 Budget was handed down by Treasurer Scott Morrison on Tuesday 09 May, which included the Government’s $10 billion plan for Health Care funding. Most notably, the National Disability Insurance Scheme is being fully funded by taxpayers through a Medicare levy increase. Here’s our wrap-up on winners and losers in the 2017 federal budget for […]
2017 Budget for Students: Winners and Losers
Treasurer Scott Morrison announced the 2017 federal budget on Tuesday night, which included the government’s plans to save $2.8 billion over the next five years by reforming the Higher Education system. Read on for an overview of the changes announced in the 2017 budget for students. How does the 2017 Budget affect students? Higher Education […]
2017 Budget for Housing: Wins and Losses
To tackle housing affordability, particularly for first home buyers, the Government included a range of measures in the 2017 Budget. A new measure focused on housing as well as the property industry in general. One of the biggest changes was the introduction of a new ‘First Home Super Saver Scheme’. This scheme allows individuals to make […]
Overseas HELP Debt – What is it?
The ATO implemented formal changes to how they recover “overseas HELP debt”. So, if you have lived overseas for more than 6 months and have a HELP debt, you may need to make HELP repayments How does the ATO recover HELP debts? Prior to 2017, Australians with a HELP or TSL debt did not have […]
Redundancy Payment and Your Taxes
What is a Redundancy Payment? A redundancy payment, also known as Employment Termination Payment (ETP), is a lump sum amount paid to an employee, after redundancy. There are a few different types of redundancy payments and each one can have a different effect on your tax return at tax time. For tax purposes an Employment […]
HECS-HELP Benefit
The HECS-Help benefit was created to provide an incentive for graduates in particular fields to pursue industry relevant roles and/or work in specified locations. Taxpayers who meet the relevant eligibility criteria can apply to the Australian Tax Office for the HECS-HELP benefit and if approved, the ATO will pay a “benefit amount” up to approximately […]
Tax Tips and Tax Deductions for Freelancers
Are you giving freelance work a go? Your freelancer tax deductions and tax tips are right here! Whether your video skills are in high demand, your Airtasker gigs have amped up or you are totally nailing it in the cupcake game, this freelancer tax deductions blog will be a massive help to you at tax […]
An Uber Driver’s Tax Case Study: 8 steps to do Uber the right way
When you drive for Uber, it’s important to know what your Uber driver tax obligations are. This driver got it right from the start. Here’s how: Judah is a professional person working a professional job. He’s university-educated with a full time job in his chosen career. Judah is also an Uber driver, and he’s doing […]
