Invalid & Carer Tax Offset Explained: Who Can Claim It The Invalid and Carer Tax Offset reduces your tax bill if you financially support someone on a disability pension or a government carer payment. To qualify, your income must be under $112,578 and the person you support must be an eligible spouse, child, parent, or sibling who receives the right Australian pension or allowance. GoTax hel
Spouse Super Contribution – Help Your Partner, Save on Tax What’s a Spouse Super Contribution? It’s when you add money to your spouse’s super fund to boost their retirement savings. If they earn a low or no income, you might also snag yourself a tidy little tax offset. Who Qualifies? You: Must be married or in a de facto relationship (same-sex
Self-Employed & the Small Business Schedule: The Ultimate Guide If you’re a sole trader, freelancer, tradie, or running your own side hustle, this is your one-stop shop for nailing your tax return—especially the Small Business Schedule (SBS). No jargon, no waffle, just what you need to know. What is the Small Business Schedule? The SBS is a section of your individual
Lump Sum Super Payments – What to Declare August 2025 What Is a Lump Sum Super Payment? A lump sum super payment is a one-off withdrawal from your super fund. Unlike a regular pension or income stream, it’s a single payment — often taken when you retire, reach preservation age, or qualify under conditions like financial hardship or permanent incapacity. How
Managed Funds – How to Handle Them at Tax Time What Is a Managed Fund? A managed fund is a pool of money from lots of investors, managed by professionals who invest it in things like shares, property, or bonds. You don’t buy shares — you buy "units" in the fund. The value of your units rises or falls depending on how the fund performs. Common Types of Managed F
Annuities and Super Income Streams – What to Declare and How What’s an Annuity or Super Income Stream? These are retirement income products — a way to turn your super or savings into regular payments: Annuity: A product you buy (with your super or savings) that pays you a guaranteed income for a set period or life. Super Income Stream: Regular payments from
Other Income – What the ATO Wants to Know (and What Gotax Online Thinks You Should Know) What Even Is "Other Income"? “Other income” is the ATO’s miscellaneous bin — the place for any cash or value you receive that doesn’t fall into the tidy buckets of wages, business, rental, or investment earnings. If you made money or received something of val
Government Pension Tax Offset – What It Means for You What’s the Government Pension Tax Offset? It’s a tax offset that reduces how much tax you pay on certain Australian Government pensions and allowances. In some cases, it can wipe out your tax bill completely. Who Can Claim It? You can claim it if you receive an eligible taxable pension, such as: Age
When Will My Tax Refund Hit My Bank? For most of us, tax time isn’t about the forms — it’s about one thing: when the refund finally lands in your bank account. The ATO might move slower than a Friday arvo in the public service, but with the right info (and GoTax Online on your side), you can shave days or even weeks off the wait. In 2025, Tax refunds are still flowing, but
Freelancer Tax Return: What Can You Claim? Freelancers are the workhorses of the modern economy. You’re the designer, the copywriter, the coder, the consultant, and sometimes even your own bookkeeper. You set your own hours (translation: work all hours), invoice clients, chase payments, and then—when tax time hits—you’re left scratching your head: what can I actually cla