What happens if you don’t lodge a tax return?

If you make less than $18200 per year, you don’t have to worry about paying taxes on your income. But if you make more than that, you are required to lodge tax return on time.  You are mandatorily required to lodge a tax return each year at the designated time of the financial year. But due to certain situations, if[…..]

Tax Implications for Rental Property Owner

Managing the rental property can be complex for individuals or businesses. From the taxation point of view if you have multiple rental properties it can be even complex. If you have maintained the complete records of income and expenses with all receipts you will save a lot of time and effort at the end of the financial year. What[…..]

Tax Returns Guide for International/Overseas Student

If you are an international student in Australia and working part-time you could be eligible to claim a tax refund. Because there is high chance that you’re earning under the tax-free threshold which is $18,200. Overseas students who has enrolled in a course that is more than six months long at an Australian institutions are[…..]

Some important tax tips for your 2019 Tax Return

1. Individuals can claim up to $300 worth of expenses without receipts with diary evidence as long as they are work related and have been bought. ATO conditions apply. 2. For sole traders and other small business entities the $20000 SMEs tax write off has been increased to $30000 for 2018-2019 financial year. It will be claimed for[…..]