Mr Taxman
Change the way you feel about taxes.
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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You may have heard recently that you can claim your handbag on your tax bill. Like many others who have called their accountants in the past month, it may have prompted you to ask "what else can I claim this year?"
The bottom line with negative gearing is that your investment is making a loss, and those banking on windfalls down the track are playing a risky game, writes Andrew Robertson.
FAILING to lodge a tax return is costing Australians more than just a slap on the wrist. Technology advances are giving the Australian Taxation Office unprecedented power to track transactions and catch people who don’t do their tax.
There are plenty of reasons why Australians love to borrow money to invest in bricks and mortar. Some people think the value of property never goes down; others like the fact you can see and touch it. But, mostly, it is the ability to offset the cost of owning the property – including the interest paid on a loan – against assessable income that makes it particularly attractive.
YOU work. You pay tax. For most Australians, that’s the simple equation they face. But rather than baulk at this annual task, treat tax time as a positive experience that will help you share in the $27 billion of annual refunds handed back to individuals.
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comments-rhsLatest Comments

  • "if I am a partner and supplied a car by the partnership. May I claim the expenses I paid for such as fuel and insurance ? "

    By: sarah at Apr 26, 2018 5:12AM

    Post: Claiming car expenses

  • "Hello friend, i want to share my testimony on how i got my BLANK ATM card which have change my life today. i was once living on the street where by things were so hard for me, even to pay off my..."

    By: KYLE WALKER at Apr 23, 2018 1:57AM

    Post: The Full Cost of Motoring in Australia

  • "My wife owns the car but i use for work purpose. Can i use cents per km to claim as a tax deduction. "

    By: Shelvin at Apr 21, 2018 9:56AM

    Post: Claiming car expenses

  • "I pay individual (oversea) 30% of the profit earn from my forex trading. He execute and manage all the trading for me.How can I claim this expenses. Ask him to issue me an invoice? As Consultant fee?..."

    By: FX YTS at Apr 17, 2018 10:27PM

    Post: Foreign currency trading

  • "I'm under the threshold and my employer is taking money out of my pay each week for HECS. I want him to stop, but if I put NO in a TFNDeclaration, then I am lying, because I have debt, if I leave it..."

    By: Tina at Apr 14, 2018 3:54AM

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