Velocity Fees | 2023 GotaxCan I Claim my Membership to the Virgin Velocity? Yes, in certain situations you can claim your membership to Virgin Velocity as a tax deduction. When it comes to tax deductions, business travelers often wonder if they can claim the expenses associated with their Velocity Club membership as a deduction. According to the Australian Tax Office, paid membership t
Corporal Tax Return | 2023 GotaxTax Returns for Corporals, let's get it done Doing your tax return can seem overwhelming, but it's actually pretty straightforward once you know what you need to do. Here's a step-by-step guide to help you complete your tax return successfully: 1. Gather all your income information: This includes your payment summary from your employer, which shows how much yo
Super Heath CheckWhy You Should Check Your Super Your super is one of the most important things you’ll save up for in your life. But many don’t think about it until they’re close to retiring, or not at all. It’s never too early to start thinking about your super, and the sooner you do, the better. Make sure you’re getting the super you’re entitled to from you
Crypto Tax | 2023 Gotax Crypto currency and your tax return, some Tips for you. Use a Crypto Tax Calculator: Calculating taxes for crypto transactions can be difficult and time-consuming. To make sure everything is accurate and follows ATO rules, it’s best to use a Crypto Tax Calculator. It works with over 800 exchanges and wallets, making it easy to import your transaction data a
What happens if I still owe the ATO money? If you have an outstanding debt with the ATO or another government agency (e.g. Centrelink or Child Support) your tax return may be delayed while the relevant agency assesses the information provided in your tax return. We touched briefly on this topic in our previous blog Dodgy Deductions. If the debt is legitimate and is required to be paid, t
Holding down two jobs? | 2022 GotaxI WANT TO GET A SECOND JOB, BUT I DON’T WANT TO PAY HALF TO THE TAX MAN! 16th June 2022 We have heard this statement many times over the years, however it is not entirely true. If you already earn over $180,000 per year then the statement is correct, as this level of income already puts you into the highest tax bracket. It doesn’t matter
Why use Gotax | 2023 GotaxHow to use Gotax to do your Tax return. Gotax.com.au is an online tax service that specialises in Individual Income Tax returns.They can help you work out whether your income is exempt and what tax deductions you can claim to get the tax refund you deserve. Here’s a step-by-step guide to using Gotax.com.au to complete your tax return: Visit the Gotax.
Overseas forces rebate | 2023 GotaxHow does the Overseas Forces rebate work? The Overseas Forces rebate is a tax offset available to members of the Australian Defence Force who have served in a specified overseas locality for more than half the financial year (183 days). The rebate is $338 plus 50% of the 'base amount. The base amount is the total of the rebates allowable in respect of any depe
How long to keep records | 2023 GotaxHow long do I need to keep my Tax Records for? Guess what guys and girls, the Australian Taxation Office requires you to keep records for five years after they were created. This means that you need to keep records of your income, expenses, and other tax-related information including diaries and logs for at least five years after you have lodged your tax ret
Car log details | 2023 Gotax How do I keep a log book for my Car to claim in my tax? If you’re using the logbook method to calculate your car expenses in Australia, you’ll need to keep a logbook to record your business-related car trips. The Australian Taxation Office states thatyour logbook must contain the following information: When the logbook period begins and ends