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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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.
MONEY mistakes made in the next month can potentially cost you plenty at tax time.
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comments-rhsLatest Comments

  • "Santander financial services is a successful finance brokerage, offering specially designed finance packages to clients worldwide, contact us via email: santander4service@aol.com to submit your..."

    By: Santander financial services at Apr 06, 2020 5:53PM

    Post: Claiming car expenses

  • "A really interesting question Mel. Whilst negative gearing of a rental property is great for the higher earning spouse as there is a nice tax deduction which comes back to them, it comes to bite..."

    By: Mr Taxman at Mar 04, 2020 9:36PM

    Post: Marriage

  • "Your refund is your asset. It would be up to the courts to determine if you have to share your assets when you settle your split."

    By: Mr Taxman at Mar 04, 2020 9:28PM

    Post: Marriage

  • "Sorry to hear Emma. Generally speaking when it comes to completing your income tax return and including spouse details, a spouse includes another person who: * you were in a relationship with that..."

    By: Mr Taxman at Mar 04, 2020 9:22PM

    Post: Marriage

  • "Admittedly not too much depreciation with a 2011 car but there will still be a few $$$ there still. My motto is that you would pick up $20 if it was on the ground so why not claim it in your tax..."

    By: Mr Taxman at Mar 04, 2020 8:59PM

    Post: Claiming car expenses