Growing Interest

Feb 24, 2010

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Opening a savings account as a child can help people build disciplined financial skills for life.

Auditors are coming

Apr 09, 2009

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Taxpayers should expect an increase in audit activity by the ATO over the next 12 months

How to get a tax bonus

Mar 11, 2009

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The strategy : To work out whether I qualify for the $900 tax bonus

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Remember when saving was a virtue? All that hand-wringing about the country's declining savings rate and skyrocketing consumer debt? Not any more. Profligacy is the new morality as the Government urges us to take its $42 billion and spend, spend, spend.

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Kevin Rudd might not think much of this idea, but there's a way his stimulatory package this week could really put a bit of zing in your super.

comments-rhsLatest Comments

  • "Assuming the app calculates the profit currently then you can use that figure in the Business Income item of your individual tax return - ideally the ATO would like a gross up of the turnover/sales..."

    By: Mr Taxman at Oct 17, 2020 2:10AM

    Post: Foreign currency trading

  • "Good evening Mr Taxman, I just would like to ask about my forex currency trading(I use MT4 app) Each time I close a trade it shows me a loss or profit and it includes the costs. At the end of..."

    By: Aggi at Oct 06, 2020 11:19AM

    Post: Foreign currency trading

  • "I think the Tax Commissioner would unfortunately consider it to be a personal expense Anne - like the purchase of a house would be."

    By: Mr Taxman at Sep 19, 2020 12:35AM

    Post: Claiming car expenses

  • "You can claim the 68 cents per kilometre method but that effectively covers all running costs of your vehicle. If you wanted to claim a % of running costs you will need to keep a 12 week logbook. "

    By: Mr Taxman at Sep 19, 2020 12:32AM

    Post: Claiming car expenses

  • "Its ok to choose from November 2019 for the start of your logbook Liezl. You can essentially chose any 12 week period during the year so long as its representative of your travel throughout the..."

    By: Mr Taxman at Sep 19, 2020 12:29AM

    Post: Claiming car expenses