Information about Individual Tax

19 Ways to Make Extra Money

  I have been noticing the recent trend in many workers finding less and less job security, so I have been inspired to share some ways to make money. As maybe some of these may interest you. My tip is to just try one or two of these suggestions that interest you the most. 1.    …

Avoiding Scams and tax frauds

Tips on avoiding scams and tax frauds What not to give Your tax file number, credit card details, identification and signatures, banking passwords, clicking on suspicious links and of course don’t transfer your money to scammers. Simple tips talk to others if not sure is it too good to be true check http://www.scamwatch.gov.au/ ask you…

Why You Should Only Use a Registered Tax Agent

Tax season is coming, are you thinking of looking for a good tax agent to maximise your tax benefit? Here are some of the benefits to have a registered tax agent: Tax agents must register with the Tax Practitioners Board and follow strict regulations when processing tax returns. They are the only people allowed to…

What to Bring for Your Individual Tax Return

So what do you need to bring for your individual tax return appointment? 1. A copy of your last tax return 2. Your tax file number 3. Payment summaries of employment government or super payments 4. A hospital cover tax statement 5. Bank interest and dividend amounts 6. Your bank details for your refund 7. Your…

Long Services Leave Tax Treatment

In one of our previous article we mentioned about tax treatment of employee termination payment https://www.taxaccountingadelaide.com.au/tax-treatment-when-you-leave-your-job . In this article, we provide some more detail on the tax rate for the unused leave on the termination of employment, such like annual leave, long service leave, holiday pay, leave loading, leave bonuses. Below we outline the…

Tax Treatment When You Leave Your Job

It is hard times and there is no such thing as a stable job these days it seems. Many often wonder how your final pay is taxed …. The tax treatment of your final payment depends on how your employment was terminated. Resign If you decide to leave the job and your position is not…

Medical Expenses Offset Phase Out

The government announced in 2013-2014 Budget that the medical expense offset will be phased out gradually. So what does it mean for taxpayer? From 1 July 2013, if you claimed out-of-pocket medical expenses for the 2012-2013 income year, you will be eligible for this offset for 2013-2014 income year. Similarity, for those who receive the…

Thank you for opting in for our top tax tips

You shall shortly receive our emails giving you details of our top tax tips and everything you need to know before you do your tax return. Here is a taste of what is on its way to your email in the coming days Did you know there is a way to reduce some of your wages tax to 15%? How the rich reduce their tax and get richer On us – a quick lesson in common tax deductions What is involved in getting a good tax return…

How To Donate and Make Sure It Is Tax Deductible

How To Donate and Make Sure It Is Tax Deductible Donating is a great thing to do, but it’s always essential to make sure who you are donating to a registered charity and if the charity is actually receiving your donations. Here are some tips on what you should check before donating: Checking the person…

Australian Tax Treatment of Working Overseas

Australian Tax Treatment of Working Overseas Working overseas can seem to be a hugely rewarding financial period for many Australian workers, however, there can be many tax traps that need to be avoided. The way income is earned and taxed overseas can be a complex area, and it is worth seeking advice that can save…

How to Sell Your Property

How to Sell Your Property We all want to sell our home in a short time and at a possible high price, however, it can happen that some houses are there on the market for months. This may be due to some reasons discussed below. Do you find a good real estate agent help you…

Making it easier when you call the ATO by confirming your identity

Making it easier when you call the ATO by confirming your identity You can make calling the ATO quicker and easier by having information ready. When you call them on 13 numbers you will need to confirm your identity with them. Commonly they will ask three items of proof that are currently on their records,…