And How Do I Avoid It Happening Again? Approximately eight out of every ten Australians who lodge a tax return receive a tax refund. But for some of us, the refund that we get isn’t quite as big as we expect. “Why is my tax refund so low?” is a very common question, especially in […] The post Why Is My Tax Refund So Low? appeared first on Etax - Online Tax Return 2024 ..read more

It’s common for hairdressers to pay for items like hair clippers, travel between clients and uniforms out of their own pocket without claiming them back on tax. Expenses like these are usually considered tax deductions, which means you can claim them on your tax return. But for hairdressers, there are strict rules on what is […] The post What can hairdressers claim on tax? appeared first on Etax - Online Tax Return 2023 ..read more

Superannuation is important when planning for your future. There are so many types of super contributions and payments, that it’s sometimes confusing and hard to know what each of them are. One part that people often don’t understand is reportable superannuation contributions. Let’s take a look at what you should know… What are reportable superannuation […] The post Reportable Superannuation Contributions – what you should know… appeared first on Etax - Online Tax Return 2023 ..read more

The tax free threshold is a cap on how much someone can earn during the financial year before paying tax. In Australia, the first $18,200 you earn between 1 July and 30 June the next year is tax-free, regardless of which employer you earned it from. From there, you will fall into a tax bracket […] The post Claiming the tax free threshold: What you should know… appeared first on Etax - Online Tax Return 2023 ..read more

Teaching kids about money is one of the most valuable life lessons you can give them. If you’re planning on raising money smart kids, you need to start early. In fact, the earlier the better. Your child’s association, understanding and attitude towards money dictates their relationship with it throughout their life. If they learn how […] The post Want to raise little entrepreneurs? Start by teaching kids about money appeared first on Etax - Online Tax Return 2023 ..read more

Put simply, negative gearing occurs when an investor borrows money to buy a property, and the cost of owning and running that property exceeds the rental income it generates. As an investor of a negatively geared property, you make up the gap between the expenses on the property and the rental income. This isn’t always […] The post What is negative gearing and is it the right strategy for you? appeared first on Etax - Online Tax Return 2023 ..read more

Find out which property investment expenses can claim as tax deductions. Learn about depreciation, negative gearing, Capital Gains Tax and more. The Etax Investment Property Tax Hub has everything you need to know about owning, renting and selling an investment property. The post Etax Property Investment Tax Hub appeared first on Etax - Online Tax Return 2023 ..read more

There’s no denying it, IT professionals are the unseen frontline heroes of a business. Whether you’re a developer, a support guru or a security ninja, it’s never an easy job to keep services and people working, 24/7. What is surprising is the number of available tax deductions for IT professionals. So, let’s get our IT […] The post Tax deductions for IT professionals – what you can claim appeared first on Etax - Online Tax Return 2023 ..read more

What is GST Withholding If you buy a new residential property, or land with the intention to build a residential property and you make this purchase from a GST registered business, you need to withhold an amount for GST to pay directly to the ATO on settlement. When does the GST Residential Withholding payment apply […] The post Paying GST at Settlement: What you need to know appeared first on Etax - Online Tax Return 2023 ..read more

You may have heard that ATO data matching technology is now being used in Australia. The ATO launched the system to find missing income from individual tax returns. It’s a new, more sophisticated way to collect more tax from taxpayers who may, either accidentally or deliberately, understate their income. What is ATO Data Matching? ATO […] The post ATO Data Matching – What is it and will it affect me? appeared first on Etax - Online Tax Return 2023 ..read more