Security workers play a very important role in keeping people safe. If you work as a security worker, you are expected to lodge a tax return at the end of the financial year. There are quite a number of requirements which you are expected to meet. Additionally, there are tax deductions that you are entitled […]
It’s that time of year again when you have to start thinking about your taxes and what deductions you can take as a teacher. Teachers do an incredible job educating our children day in and day out, but when it comes to their own taxes, they often need a little help. Just like other professionals,[…..]
Keeping trains on the tracks and running on time is important work. But if you’re a train driver, it’s also important to make sure your taxes are in order. Annually, you are expected to file your tax return with the ATO. While most people strive to keep up with the tax deadline, there are those[…..]
Security workers play a very important role in keeping people safe. If you work as a security worker, you are expected to lodge a tax return at the end of the financial year. There are quite a number of requirements which you are expected to meet. Additionally, there are tax deductions that you are entitled[…..]
What is the amount I will receive under LISTO? The maximum offset an individual can receive is $500. The amount you get is calculated based on your taxable income and contributions made to your super fund. On the other hand, the minimum amount is $10. In the event that the amount due is less than[…..]
How Much Tax Offset Will I Get? The amount of tax offset that you will get is dependent on your taxable income. Any Australian resident with an income of up to $126,000 is eligible for the LMITO. As we’ve mentioned, the amount of the tax cut varies, depending on your taxable income. Here are the[…..]
How to Get the Private Health Insurance Cover Tax Return? If you want to receive the tax offset, you will need to file a tax return. The process is relatively simple and can be done online. You will need to provide your health insurance policy number as well as your income details. It is important[…..]
Foreigners Are Not Eligible for the Main Residence Exemption In Australia, capital gains tax is applicable for all individuals who sell properties that are not their main residence. However, there are exemptions for Australian permanent residents and foreigners with a secondary residence in the country. Australian permanent residents can qualify for a full exemption from[…..]
Bonus Tips: Prepayment of next year’s interest in advance to tax advantage. Many tax payers miss out on claiming mortgage insurance paid on loan with more than 80% LVR. It is classified as borrowing expenses. This is sometimes a substantial amount. An average mortgage insurance on a $750,000 loan can range from $5000 to $15000.[…..]
Investment property is one of the options that come with major advantages. As an investor, understanding these advantages can help maximize tax returns and minimise your tax bills. Let us get straight into these 5 advantages: 1. Negative Gearing Negative gearing is one of the most known tax advantages that real estate investors enjoy. In[…..]