In line with our mission to make tax easy we have some exciting news! Introducing our MAX MY REFUND tool! Exclusive to One Click Tax clients you can now link your bank account and search for those hidden deductions to maximise your refund! We have agreements with all the big banks and none of your data is ever stored. If you bank is not supported by us yet. You will still be able to enter the deductions manually. You can search by date, name or amount and just select the expense. It is that simple! Stop looking for those hidden receipts behind the couch in t ..read more

We have our first winner! Congratulations Benson for winning the first $550 Taxseeker payment! Don’t worry if you didn’t win this week the next draw is Wednesday 5th of August 4pm AEST! Haven’t lodged your tax return yet? Head to www.oneclicktax.com.au The post Winner of OneClick Taxseeker!! appeared first on One Click Tax ..read more

Scotty from marketing has inspired us to create Taxseeker! Every week till the 31 August 2020 we will boost one person’s refund by $550! All you need to do is lodge your tax return before 31 August 2020 with One Click Tax! It’s that simple. See full T&C’s. Start your tax return now! On a more serious note we have had lots of calls asking us to explain the future Jobseeker payment announced last week – some clients have sent us this table which we can see may be slightly confusing. That said we broke it down a little simpler. The post OneClick Taxseeker! appeared first on One Click Tax ..read more

One of the most common questions faced by our accountants last tax season was “Where is my refund?” We thought it would be helpful to explain and give a simple explanation on our refund process, as well as provide the estimated timings. The first step is when you lodge your tax return on our system. Upon lodgement, it will be sent to the Australian Taxation Office (ATO) for review. The average processing time the ATO takes to process a refund is 14 business days. Next, when they have finished processing the Tax Return, they will issue a Notice of Assessment to you, to inform you if there are a ..read more

We have listed down some of the tips for you, if you came to Australia with a Working Holiday Visa subclass 417 or 462. Check your visa status To check your visa status visit:  https://immi.homeaffairs.gov.au/visas/already-have-a-visa/check-visa-details-and-conditions/check-conditions-online Important Dates The Australian Financial Year starts on 1st July and ends on 30th June in the following year. Applying for your Tax File Number (TFN) If you are planning to work in Australia, you should apply for a TFN. It is not compulsory to have one, but without it you will end up paying more tax ..read more

The tax-free threshold for this year is $18,200. This means that if your total income is less than the threshold, you do not have to pay any income tax to the Australian Taxation Office (ATO) this year. Do I need to lodge tax return? If your income is under $18,200 Yes, you are still required to lodge a tax return even if your income is under the threshold. If your employer had withheld tax, you would be able to claim the full amount of withheld tax as a refund. However, even if you did not have any tax withheld (and no refund), you are still legally required to lodge a Tax Return. This is kno ..read more

Tax Table 2020 These are the current (tentative) Tax Tables for the 2019-2020 Tax Year. (Tentative) Tax Resident Tax Rates 2019-2020 This rate is only applying to individuals who are Australian residents for tax purposes*. Taxable Income Tax on this income 0-$18,200 Nil $18,201- $37,000 19c for each $1 over $18,200 $37,001- $90,000 $3,572 plus 32.5c for each $1 over $37,000 $90,001 – $180,000 $20,797 plus 37c for each $1 over $90,000 $180,001 and over $54,097 plus 45c for each $1 over $180,000 (This is not including the Medicare levy of 2%) * There are multiple residency tests ..read more

There might be some confusion on which method is better for a home office claim. The new COVID-19 shortcut method might seem that it helps you save more than the usual method, but does it really? We will look at this case study to find out. Case Study Jim is an office administrator who was forced to work remotely from home due to COVID-19 social distancing policies. When he works at home, he keeps records of his hours in a personal diary, which are standard office hours, 8 hours per day from Monday – Friday. For this example, the work from home period lasts for 16 weeks. He takes office calls ..read more

From now on, every client will need to verify your photo ID either with your driver license, passport or student ID.  This is due to new regulations from the Australian Taxation Office (ATO), to have proof that we are acting on your behalf, and for the privacy and security purposes as follows: ATO Regulations: For the 2020 financial year, the ATO now requires tax agents to verify at least one form of their client’s identification documents to pass the identity proofing level 2 (IP2) before lodging any tax returns. This will help the government to protect you and prevent any fraud that cou ..read more

Working from home: The ATO has introduced a straight-forward shortcut method to calculate Home Office Expense during the period from 1 March to 30 June 2020.  Using this shortcut, you can claim 80 cents per hour for all relevant running expenses incurred when working from home. It is important to note that if you choose this method, you are NOT allowed to claim other further work from home deduction for any of the expenses. The only record that you have to keep for this method is a timesheet for the number of hours that you have worked from home. If you are using this method, you must inc ..read more