Can I claim stationery in my Tax Return? If you purchased any stationery for work (and your boss didn’t reimburse you) then you may be able to claim your stationery as a tax deduction on your GoTax Online etax return. What kind of stationery can I claim? Pens, Pencils, Highlighters Glue, tape, post-its Diaries, Journals, Notebooks Calculators, Comp
How does the Medicare Levy surcharge apply to me? 2021 Tax Year The Medicare Levy Surcharge (MLS) is a tax that helps pay for the public health system that so many Australians and Australian Residents benefit from, this is in ADDITION to the 2% Medicare Levy which is compulsory to everyone who earns more than $26,079 in the current financial year. The MLS is income tested using your &
There seem to be quite a few naughty people out there that have accessed their COVID Super falsely. Those that have lied about their financial situation in order to access their super early are in the gun sights of the ATO. And… the potential damage to the naughty ones?..... an up to $12,600 penalty on each of the $10,000 superannuation drawdowns. On top of that, the amounts paid unde
The Car tax rate for 22/23 in ONLY 78 cents - pretty sure that's on the light side!! The cost of petrol is through the rooflately, so if you use your car a lot for work it may pay you to use the FULL log book method to claim your car expenses. The 78 cents per kilometer seems a bit lean when fuel prices are running at $1.40 a litre. The ATO rate per kilometreis now 78 cents for 2022/23 and s
GoTax Deduction Grabber ATax App with the most-est. If your struggling each year to remember what tax expenses you've paid for or misplaced your tax receipts then here's your solution. Deduction Grabber It's simple It's easy And it'll do the job for you. Recordthe expense, the expensetype and it will record your receipt on your phone, all ready for your next Income Tax return
GoTax is up and going for 2022, so what's NEW? Our 2022 GoTax site is live at www.gotax.com.au I suppose the big one is we are now CHEAPER than previous years. We've turned the screws on the technology behind the system, got more efficient and we decided (stupidly) to DROP our price. Our New Price Structure is: Tax Virgins (for those first timers) - it's free Quick ret
I need to eat to work, can I claima tax deduction on my Income Tax Return? ‘I buy my lunch every day at work, and I need to eat to be able too do my job. Can I claim my food costs on my income tax? Unfortunately, the tax man says you need to eat regardless of whether you are working or not. Therefore,this is a personal expense that can’t be claimed back in your tax return.
Income Tax Deductions Real Facts Today’s blog is all about tax deductions FACT vs FICTION or as we say ‘proper tax deductions vs ‘mate told me at the pub deductions’.These are the top 5! 1. You can claim driving to and from work because you work night shift or you don’t work near any public transport This is FICTION. There are only certain situations wher
Capital Gains Tax and me - love blossoms!! In our previous blog, we discussed what a Capital Gain is and when you may need to pay it. Yes, it was long... So, we're doing you a favour... We're keeping this blog short! In this blog, we will discuss what a Capital Loss is and how it can benefit you for future Capital Gains Tax purposes. Capital losses You might be asking, if I have
Real Tax Returns for Real Estate Agents .... yes we know it's corny.... If you work in the real estate industry, then you probably spend quite a bit trying to sell people ‘the great Australian dream’. So if this sounds like you, then you may be able to claim these costs as a tax deduction in your etax return. Below is a list of the common income tax deductions a real estate wo