Traveling to work or study overseas is hugely exciting but when it comes to Australian expat tax obligations, there can be a bit of administration and paperwork that comes with the move. Read on to make your transition to working overseas easier! Australian residency and tax All Australian residents are required to lodge tax returns […]
Your Tax and Finances
Your Tax and Finances: Money Tips | Budget and Savings | Superannuation | Rental Income
APRA Super-fund or a Self-Manged Super Fund?
Choosing the Right Super Option for Your Unique Needs Self-managed super funds (SMSFs) are growing in popularity and more Australians are using them to build their retirement funds. But what are SMSFs and, most importantly, are they worth it? We provide you a comparison between the two most popular options, self-managed and APRA-regulated funds, to […]
Saving Money: How to save a million dollars (really) – plus how to save money faster
How to be great at saving money It’s a comfort to know you can get your hands on some money quickly if you need it – without resorting to a loan from a bank, family or friends. It’s also a comfort to know you’ll be able to reach goals like buying a home and retiring comfortably. […]
5 Common Tax Return Mistakes
The most common tax return mistakes are easily detected by the ATO The ATO works hard to find mistakes on tax returns. With more tools and access granted to them every year, it’s getting easier all the time. So, if you think you can get away with a few extra deductions or leaving off your […]
What is STP or Single Touch Payroll?
What is Single Touch Payroll? Single Touch Payroll (STP) makes payroll reporting far easier for employers. Instead of juggling a raft of paperwork, your boss reports payroll details including super payments, to the Australian Tax Office (ATO) on or before each pay day. New payroll software now looks after that. Each time your pay is […]
Shared Finances vs Separate Bank Accounts – Which is Right For You?
At some point, every couple has the shared finances vs separate bank accounts conversation. But, as with all money-related matters, it’s rarely a straightforward process. Let’s look at the 3 most common options, to help you choose what kind of finance strategy may work best for you… 1. 100% Shared finances The ‘traditional’ idea of […]
Tax Guide For Couples: How does having a spouse affect your taxes?
This tax guide for couples helps you determine whether you need to include your partner’s information on your next tax return. Read on to learn what you should tell the ATO this year… Who the ATO defines as a spouse for tax purposes is a common cause of confusion. Once you’re familiar with the definitions, […]
Death and Taxes – What You Need to Do
Any death in the family is a very difficult time for all involved. Apart from the emotional burden, there are also a range of administrative tasks that need to take place after a bereavement. This death and taxes article covers the main steps family members should take to ensure tax obligations are met. Death […]
Private health insurance rebate tiers to ease health cover confusion
At the beginning of April 2019, private health insurance had a much-needed overhaul. This focused on the introduction of structured health insurance rebate tiers. With confusion growing over what health insurance policies did and didn’t cover, the aim of the new health insurance rebate tiers system is to greatly simplify the process. Making purchasing the […]
Can You Still Claim your Laptop, Handbag or Briefcase as a Tax Deduction?
Yes, you can claim often claim your handbag for work as a tax deduction, as well as your other work bags. But don’t go shopping just yet! There are some important things to keep in mind. The basic rule for claiming a handbag or briefcase as a tax deduction is that it must be directly […]
The First Home Super Saver Scheme (FHSSS): your guide to buying your first home sooner
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 […]
Part 1 – 10 Easy Ways to Pay Less Tax
We asked our top tax accountants for the easiest ways to pay less tax to the ATO and keep more money in your wallet. They had a LOT of answers to help us all pay less tax. So read on it could help you save big $$$ this year Part 1: ‘How to Pay Less tax’. […]
Part 2 – Easy Ways To Reduce Tax: More Tax Deduction Tips
Here’s part 2 of our best ways to reduce your tax series: If you’d like to see the first half of the list, click here for part 1. Let’s look at more ideas about how to increase your tax refund this year. 6. Manage the timing of your tax deductible expenses If you know in advance that […]
