Mr Taxman
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Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
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The Australian Taxation Office has been criticised for targeting regular hard-working Australians instead of multinational corporations, but an expert says taxpayers should not be deterred from claiming everything they are entitled to.
THERE has been a big jump in the number of Australians rushing to grab a fast tax refund, but there’s a potential sting. Tax specialists warn that being quick off the mark can result in costly errors because Australian Taxation Office technology is likely to spot undeclared income.
The new financial year is here which comes which comes with it the annual obligation to submit our income tax return by 31 October. Like most, you are probably in a mad panic trying to find your receipts to scrap together in a futile attempt to boost your refund (or worse reduce your payable) with some last-minute claims. For others, 1 July brings around a new sense of hope with a whole year to get our tax planning right in 2017/18.
STUPIDITY, carelessness, greed, arrogance, forgetfulness, dishonesty and laziness. Most of us are guilty of some, or all, of these qualities at some stage and we probably don’t even know it. But when it comes to tax time, it’s best to avoid all of them because committing just one of these sins can land you in a heap of hot water.
The end of the financial year will ring in many changes to superannuation and personal allowances while ringing out popular concessions for property investors and home buyers. Adrian Raftery, an associate professor in tax, financial planning and superannuation at Deakin University, says now more than ever it's crucial for individuals and small business owners to take ownership of the upcoming changes.
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comments-rhsLatest Comments

  • "Does my accountant have access to my registered relationship eg: will they know who I am in a relationship with and since when? Al"

    By: al at Oct 31, 2019 6:43AM

    Post: Marriage

  • "Hi, I am a doctor and I am contracted to work at Hospital "A". I however rotate every 10 weeks in different hospitals for my work (say Hospital "B" a few months ago). Am I able to claim car travel..."

    By: Sam at Oct 30, 2019 5:54AM

    Post: Claiming car expenses

  • "I’m looking to do my tax return myself online this year, have previously used a tax agent. I’ve never given my spouses details before when using an agent. I do not live permanently with him, nor do..."

    By: Hannah Snelling at Oct 30, 2019 4:09AM

    Post: Marriage

  • "Hi Mr Tax Man, This tax year I will be over the threshold and will receive a HELP bill to pay. Problem is I am moving to a low employment area for family reasons and It could be some time before I am..."

    By: will at Oct 06, 2019 11:44PM

    Post: Two important dates for those with HECS/HELP debts

  • "I have a brought a brand new Toyota hilux sr5 in 2016.. I claim the car 100% for work use as I carry tools and soley own use for work purposes.. what is the deminishing value of the car per year??..."

    By: Mark at Aug 20, 2019 12:07PM

    Post: Claiming car expenses