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.
Instant asset write offs, fringe benefits, single touch payroll…there’s a lot of jargon out there when it comes time to prepare your small business tax return.
Banks are taking very different approaches when it comes to first-home buyers using super withdrawn under the government’s COVID-19 hardship provisions as part of their deposit.
While many savvy retailers are great at tricking people into spending money at this time of year purely to get a tax deduction, there are genuine ways to spend for a better tax refund.
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

  • "My partner and I are wanting to get married. Unfortunately he has alit of tax debt from when he was a teenager. How or will this affect our tax returns once married? "

    By: BM at Jun 05, 2021 2:14AM

    Post: Marriage

  • "Old thread, but have a related question... If I have a "Foreign LLC" registered in the US and am trading Futures on US exchanges using a US FCM/broker (but am an Australian resident for tax..."

    By: CJ at Apr 06, 2021 6:46AM

    Post: Trading US futures in Australia

  • "Hi. I bought shares back in 2018.. And a few more since. I borrowed the money out of my home loan to do this. I still own the shares, but do not receive any dividends from them, although the value..."

    By: Harry at Mar 31, 2021 3:38AM

    Post: Borrowing to buy shares

  • "Hi Mr Taxman, this is a great forum, thanks. I am trading forex and commodities on an Asian platform. Whn I went to withdraw funds I was informed that the Australian Tax department requires me to pay..."

    By: Peter Andrew Sutherland at Mar 26, 2021 10:41PM

    Post: Foreign currency trading

  • "Im planning on hiring a Nanny to drive my child to my ex husband and back twice a fortnight adding up to approximately 6,000km a year. What will they be eligible to claim and what kinds of records..."

    By: Peta Granger at Feb 25, 2021 3:52AM

    Post: Claiming car expenses