Higher-income earners can minimise the impact of the federal government's budget tax hikes and welfare cutbacks by deferring income, prepaying expenses and possibly splitting superannuation contributions with their spouse, according to tax experts.
Four weeks might not seem like a long time but what you do this month could have a significant impact on your upcoming tax bill or refund. Yes, June 30 is rolling around again and along with getting your shoebox out and paperwork organised, the coming weeks represent a last-chance opportunity to organise your affairs to save on tax.
AS soon as Wayne Swan finished delivering his budget speech on Tuesday, the nation's accountants and financial advisers had began thinking of ways to mitigate tax hikes and welfare cutbacks suffered by their clients. The government constantly tweaks the rules, but tax planners always adapt.
WHILE the May budget has cut back some of the tax benefits of using trusts, legislation introduced into federal parliament this week will provide much needed certainty for the 1.5 million Australians who are beneficiaries of these investment vehicles.
Like many landlords, Cleo Glyde always believed property investing was a reliable way to make money – it's stable, simple and it comes with hefty tax breaks. Now she's not so sure.
An essential money-saving resource for every Australian who pays tax – updated for the 2020-2021 tax year and including the latest COVID-19 pandemic government relief measures.

comments-rhsLatest Comments

  • "Hi Mr Taxman, can you please provide a numeric example of how loan interest cost and franked dividends impact the calculation of tax payable? Let's assume the interest cost is 4% and the dividend..."

    By: Johnny at Oct 10, 2021 6:11AM

    Post: Borrowing to buy shares

  • "Hi Mr Taxman, can you please provide a numeric example of how loan interest cost and franked dividends impact the calculation of tax payable? Let's assume the interest cost is 4% and the dividend..."

    By: Johnny at Oct 10, 2021 6:11AM

    Post: Borrowing to buy shares

  • "All currency exchange rates updates daily http://www.forextrading.pk/eur-pkr-historical-rates-graph.html"

    By: jabbar huusain at Sep 17, 2021 9:21AM

    Post: Foreign currency trading

  • " BEST LOTTERY SPELL BY POWERFUL DR. OBINNA I use to be a very poor man who has always not find luck when it comes to playing the lottery. I have been playing lottery since i was 21 years and now i..."

    By: Ryan Carlos at Sep 09, 2021 2:05AM

    Post: Tax strategies that count the cost of COVID-19 and recession

  • " BEST LOTTERY SPELL BY POWERFUL DR. OBINNA I use to be a very poor man who has always not find luck when it comes to playing the lottery. I have been playing lottery since i was 21 years and now i..."

    By: Ryan Carlos at Sep 09, 2021 2:05AM

    Post: ATO crackdown on motorists making dodgy car claims