ATO extends Division 7A relief
The ATO made an extension relief for affected taxpayers and related SMSFs who are unable to meet the minimum yearly repayments on Division 7A loans due to COVID-19.
Tax time: calculating investment income and deductions
Here's a check list of what you will need to include in your 2020-21 income tax return.
How to make the most of this year’s tax return
With tax time nearly upon us, you might be interested in the following deduction tips, which may help increase the amount of money you get back. Lots of things can…
What is capital gains tax and when might I have to pay it?
Capital gains tax may be payable when you sell a certain asset (such as shares, land or property) and make a profit. Capital gains tax is charged on the profit…
ATO puts tax cop hat on: What you can and can’t claim this tax time
The ATO is re-establishing itself as tax cop, with the office said to clamp down on overinflated work-related expenses this tax time. In 2020, around 8.5 million Aussies claimed nearly…
Your super checklist for EOFY
The lead up to 30 June can be a good time to maximise tax benefits that may be available to you inside super. If you’re keen on taking advantage of…
How are Australians planning on spending their tax savings?
Essential bills, savings accounts, Christmas gifts and exchange-traded funds appear to be the big winners from the latest round of tax cuts, new research has revealed. During the 2020 budget, it…
Super, death, and taxes
An interesting finding in the federal government's Retirement Income Review report is that many Australians are dying with the majority of the wealth they had when they retired.
How your coming tax cut could pay off
Over the coming weeks, around 12 million working Australians will start receiving extra cash in their pay packets as a result of changes to personal income tax brackets announced by the federal government.
