Get informed and discover what the taxman doesn't want you know http://www.mrtaxman.com.au/ Thu, 12 Mar 2026 08:50:48 GMT http://backend.userland.com/rss RSS.NET: http://www.rssdotnet.com/ 30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/twelve-tax-tips-for-the-family-or-individual-2024-25 Thu, 05 Jun 2025 00:00:00 GMT 15th Edition!!!! An essential money-saving resource for every Australian who pays tax - fully updated for the 2019-2020 tax year. http://www.mrtaxman.com.au/blog/101-ways-to-save-money-on-yout-tax--legally Wed, 28 May 2025 00:00:00 GMT 30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-the-family-or-individual-2020-21 Tue, 04 May 2021 00:00:00 GMT Get EOFY ready with one of Australia's leading tax experts and best-selling author Dr Adrian Raftery, otherwise known as Mr Taxman. http://www.mrtaxman.com.au/blog/sme-tax-time-webinars--20-may-or-25-may Wed, 28 Apr 2021 00:00:00 GMT Take the stress out of tax time with one of Australia's leading tax experts. Call Mr Taxman today on 1800 TAXMAN (1800 829 626) or drop an email to adrian@mrtaxman.com.au http://www.mrtaxman.com.au/blog/need-help-with-your-tax Thu, 04 Jun 2020 00:00:00 GMT The tax system is in urgent need of simplification, but leading accountants warn governments worry too much about winning popularity contents and lack the rigour needed for reform. http://www.mrtaxman.com.au/blog/tax-changes-that-could-transform-australians-financial-future Fri, 12 Sep 2025 00:00:00 GMT Superannuation rule changes are confusing and happen too often for most Australians who simply want certainty. http://www.mrtaxman.com.au/blog/the-winners-and-losers-from-new-superannuation-rules Tue, 08 Jul 2025 00:00:00 GMT Superannuation rule changes are confusing and happen too often for most Australians who simply want certainty. http://www.mrtaxman.com.au/blog/new-taxes-new-handouts-amid-new-rules-for-superannuation Fri, 04 Jul 2025 00:00:00 GMT It's the end of the financial year on Monday, so it's now-or-never if you want to boost this year's tax refund. http://www.mrtaxman.com.au/blog/tax-deduction-tips-act-quickly-to-get-in-before-financial-year-ends Fri, 27 Jun 2025 00:00:00 GMT Section 45 of the of the Tax Agent Services (Code of Professional Conduct) Determination 2024 requires registered tax practitioners to advise all current and prospective clients of the following: (a) That the TPB maintains a register of tax agents and BAS agents and how clients can access and search the register. (b) How clients can make a complaint about a tax agent service provided by a registered tax practitioner, including the TPB's complaints process. (c) General information about the registered tax practitioner's rights, responsibilities and obligations as tax agent or BAS agent, including to their clients, under the taxation laws (including the TASA), and what obligations their clients have to their registered tax practitioner. (d) Whether certain events have occurred within the last five years (but not before 1 July 2022). (e) Whether the registered tax practitioner's registration as a tax agent or a BAS agent is subject to any conditions. http://www.mrtaxman.com.au/blog/keeping-you-informed--website-notice Tue, 10 Jun 2025 00:00:00 GMT The only constant about tax is change. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), provides us with some of the tax changes coming into play from 1 July 2025. http://www.mrtaxman.com.au/blog/ten-tax-changes-taking-effect-from-1-july-2025 Fri, 06 Jun 2025 00:00:00 GMT Schedule of fees from 1 July 2025 http://www.mrtaxman.com.au/blog/2025-26-fee-schedule Thu, 05 Jun 2025 00:00:00 GMT Small business entities (SBEs) have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), gives some excellent tips for small business owners to action and minimise your business' tax bill this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-small-business-2024-25 Thu, 05 Jun 2025 00:00:00 GMT Over 2.27 million people claimed just more than $44.4 billion in rental deductions in their tax return last year. With June 30 rapidly approaching, it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), gives some excellent tips for you to action and maximise your tax refund from your rental property this year. http://www.mrtaxman.com.au/blog/top-ten-tax-tips-for-rental-property-investors-2024-25 Thu, 05 Jun 2025 00:00:00 GMT The new financial year will soon be here which comes with it the annual obligation to submit our income tax return by 31 October. For many of us, the process is as painful as having your teeth pulled but the rewards can be great. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), shares with us seven common mistakes to avoid when doing your tax this year. http://www.mrtaxman.com.au/blog/seven-most-common-tax-mistakes-or-7-deadly-sins--for-2024-25 Thu, 05 Jun 2025 00:00:00 GMT Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), shares with us excellent tips for you to action and maximise your tax refund next year. http://www.mrtaxman.com.au/blog/start-of-financial-year-tax-planning-2025-26 Thu, 05 Jun 2025 00:00:00 GMT 30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), provides some unusual deductions that you didn't know you could claim for you and your business and maximise your tax refund (or reduce your tax bill) this year. http://www.mrtaxman.com.au/blog/7-surprising-things-you-may-be-able-to-claim-as-a-tax-deduction-2024-25 Thu, 05 Jun 2025 00:00:00 GMT 30 June is rapidly approaching and with every dollar counting during this cost of living crisis now is the time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2025-2026 edition (Wiley, May 2025, AU$32.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/five-things-to-do-before-30-june-2025 Thu, 05 Jun 2025 00:00:00 GMT My schedule of fees for 2024/25 year http://www.mrtaxman.com.au/blog/2024-25-fee-schedule Thu, 30 May 2024 00:00:00 GMT Here are Mr Taxman's schedule of fees for the 2022/23 year http://www.mrtaxman.com.au/blog/2022-23-fee-schedule Wed, 01 Jun 2022 00:00:00 GMT The only constant about tax is change. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95), provides us with some of the tax changes coming into play from 1 July 2021. http://www.mrtaxman.com.au/blog/8-tax-changes-taking-effect-from-1-july-2021 Thu, 01 Jul 2021 00:00:00 GMT Many Australians have spent a lot of money setting up their home offices and there are some surprising items you can claim on tax. http://www.mrtaxman.com.au/blog/unusual-work-from-home-expense-you-can-claim-a-tax-deduction-for Wed, 09 Jun 2021 00:00:00 GMT Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95) shares with us excellent tips for you to action and maximise your tax refund next year. http://www.mrtaxman.com.au/blog/start-of-financial-year-tax-planning-2021-22 Tue, 01 Jun 2021 00:00:00 GMT The new financial year will soon be here which comes with it the annual obligation to submit our income tax return by 31 October. For many of us, the process is as painful as having your teeth pulled but the rewards can be great. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95), shares with us seven common mistakes to avoid when doing your tax this year. http://www.mrtaxman.com.au/blog/seven-most-common-tax-mistakes-or-7-deadly-sins--for-2020-21 Tue, 04 May 2021 00:00:00 GMT Over 2.21 million people claimed just under $50 billion in rental deductions in their tax return last year. With June 30 rapidly approaching, it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95), gives some excellent tips for you to action and maximise your tax refund from your rental property this year. http://www.mrtaxman.com.au/blog/top-ten-tax-tips-for-rental-property-investors-2020-21 Tue, 04 May 2021 00:00:00 GMT Small business entities (SBEs) have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2021-2022 edition (Wiley, May 2021, AU$29.95), gives some excellent tips for small business owners to action and minimise your business' tax bill this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-small-business-2020-21 Tue, 04 May 2021 00:00:00 GMT http://www.mrtaxman.com.au/blog/2021-22-fee-schedule Sat, 01 May 2021 00:00:00 GMT Canstar asked 20 experts to share the one money lesson they think everyone should know. Here's what they had to say. http://www.mrtaxman.com.au/blog/20-experts-share-their-top-money-tip Mon, 22 Feb 2021 00:00:00 GMT The game of cricket has had many admirers around the world. The sport is followed like crazy and has equally mad supporters. The passion for the sport is well established when we see these fans going to the net level to shower love to their favourite player or the nation. These fans have not been restricted by money, boundaries or any personal barriers, they have sacrificed their pleasures to show the fondness they have for the game. You may call them insane but they are equally loved and blessed by fans around the world. Here is a list of 10 most famous superfans of cricketers. http://www.mrtaxman.com.au/blog/10-biggest-cricket-fans-around-the-world Thu, 21 Jan 2021 00:00:00 GMT Section 923A (s923A) of the Corporations Act 2001 restricts the use of certain words, including 'independent' and other terms of like import. It provides this restriction in the context of how business was done in 2001. While time, technology and how we do business has since moved on, this section has largely remained unchanged and has created a regulatory black hole. Unfortunately, some of the most unscrupulous practitioners have moved into this black hole for their commercial gain. http://www.mrtaxman.com.au/blog/independent-what Mon, 28 Sep 2020 00:00:00 GMT So you have your assessable income and allowable deductions all sorted out & want to lodge your return ASAP but your private health fund has slowed things up. So when will BUPA, AHM, Defence Health, Navy Health, CBHS, Westfund, HCF, Australian Unity, Medibank et.al have your tax statement for 30 June 2020 available? http://www.mrtaxman.com.au/blog/when-will-private-health-funds-issue-your-2020-tax-statement Fri, 03 Jul 2020 00:00:00 GMT Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95) shares with us excellent tips for you to action and maximise your tax refund next year. http://www.mrtaxman.com.au/blog/start-of-financial-year-tax-planning-2020-21 Wed, 01 Jul 2020 00:00:00 GMT The only constant about tax is change. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), provides us with some of the tax changes coming into play from 1 July 2020. http://www.mrtaxman.com.au/blog/ten-tax-changes-taking-effect-from-1-july-2020 Tue, 30 Jun 2020 00:00:00 GMT If you earn money overseas then it is well known that when it comes to your annual ATO tax returns, all foreign overseas income must be reported in addition to your domestic income. http://www.mrtaxman.com.au/blog/tax-on-overseas-income-and-the-importance-of-saving-on-fx-conversion Fri, 12 Jun 2020 00:00:00 GMT Every dollar counts, so make sure you are fully compensated for having to work from home http://www.mrtaxman.com.au/blog/maximise-your-tax-deductions Fri, 12 Jun 2020 00:00:00 GMT Traditional office-related expenses for will be supplanted by claims from business owners and their employees working from home offices. http://www.mrtaxman.com.au/blog/tax-strategies-that-count-the-cost-of-covid-19-and-recession Sat, 06 Jun 2020 00:00:00 GMT The 2020 fiscal year officially ends on 30 June, and the months of July through to October mark tax season. But before the next financial year begins, there are a few things you should sort out to maximise your tax refund, according to tax expert Adrian Raftery. Here are some things you should do before the month is up http://www.mrtaxman.com.au/blog/max-your-tax-return-5-things-you-should-do-before-30-june Fri, 05 Jun 2020 00:00:00 GMT This accountant by trade and father of two batted above his average creating a cricket pitch and soccer field in his yard - and he says if he could do it, so could other sports-mad families. http://www.mrtaxman.com.au/blog/mt-martha-dad-creates-ultimate-iso-backyard-with-cricket-pitch Wed, 03 Jun 2020 00:00:00 GMT Millions of Australians will face tough economic times in October when the JobKeeper subsidy ends according to experts, unless they get more support. http://www.mrtaxman.com.au/blog/jobkeeper-subsidy-might-have-to-be-extended-to-avoid-fiscal-cliff Sun, 31 May 2020 00:00:00 GMT A superannuation guarantee amnesty was introduced on 6 March 2020. Employers participating in the amnesty need to apply by 7 September 2020. http://www.mrtaxman.com.au/blog/superannuation-guarantee-amnesty Fri, 29 May 2020 00:00:00 GMT The Government's JobKeeper scheme has been a lifesaver for businesses and employees alike, but what happens when it ends? http://www.mrtaxman.com.au/blog/how-will-employees-and-businesses-survive-when-jobkeeper-ends Fri, 29 May 2020 00:00:00 GMT Using the Australian Taxation Office's temporary "shortcut" method for claiming home office expenses brought about because of COVID-19 could leave you worse off than keeping a diary and stating actual running costs. http://www.mrtaxman.com.au/blog/keeping-a-diary-could-boost-your-tax-refund Tue, 26 May 2020 00:00:00 GMT Over 2.16 million people claimed more than $47.4 billion in rental deductions in their tax return last year. With June 30 rapidly approaching, it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), gives some excellent tips for you to action and maximise your tax refund from your rental property this year. http://www.mrtaxman.com.au/blog/top-ten-tax-tips-for-rental-property-investors-2019-2020 Thu, 21 May 2020 00:00:00 GMT More than 30 per cent of Australian tax payers expect to get a bigger tax refund this year either because of an increase in work related expenses or a lower income. With the end of financial year just around the corner, tax expert Mr Taxman Adrian Raftery reveals exactly what Aussies are entitled to. http://www.mrtaxman.com.au/blog/one-third-of-australians-can-expect-about-a-bigger-tax-return-this-year-because-of-covid-19 Wed, 20 May 2020 00:00:00 GMT 30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-the-family-or-individual-2019-20 Wed, 20 May 2020 00:00:00 GMT Small and medium business entities (SMEs) have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), gives some excellent tips for small business owners to action and minimise your business' tax bill this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-small-business-2019-20 Wed, 20 May 2020 00:00:00 GMT 30 June is rapidly approaching and with every dollar counting during this COVID-19 pandemic now is the time to do some urgent tax planning. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/five-things-to-do-before-30-june Tue, 19 May 2020 00:00:00 GMT The new financial year will soon be here which comes with it the annual obligation to submit our income tax return by 31 October. For many of us, the process is as painful as having your teeth pulled but the rewards can be great. Dr Adrian Raftery, principal of Mr Taxman and author of 101 Ways to Save Money on Your Tax - Legally! 2020-2021 edition (Wiley, May 2020, AU$25.95), shares with us seven common mistakes to avoid when doing your tax this year. http://www.mrtaxman.com.au/blog/sevin-deadly-tax-sins Tue, 19 May 2020 00:00:00 GMT Can my company claim up to $150,000 on a new car under the instant asset write-off rules? http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-16 Tue, 19 May 2020 00:00:00 GMT More than 30% of Australians are expected to get a bigger refund from the taxman this year according to one of Australia's leading tax experts. http://www.mrtaxman.com.au/blog/1-in-3-australians-to-get-bigger-tax-cheque-this-year Mon, 18 May 2020 00:00:00 GMT Red tape, workplace worries and tax concerns are adding to the stress of small business owners as they struggle to reopen or rebuild their trade. Here are the top tips for tax time. http://www.mrtaxman.com.au/blog/business-tax-and-regulations-pile-more-onto-owners-plates Mon, 18 May 2020 00:00:00 GMT If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows: http://www.mrtaxman.com.au/blog/2020-21-fee-schedule Sun, 17 May 2020 00:00:00 GMT Employers began receiving JobKeeper payments from the Federal Government last week and are passing it on to their workers, but many employees are still confused about how the scheme works. http://www.mrtaxman.com.au/blog/jobkeeper-payment-what-australians-must-know Sun, 10 May 2020 00:00:00 GMT Businesses are gearing up for the first payments of the government's $1,500 wage subsidy which will start flowing from the first week of May, to the relief of many employers and employees across the nation. http://www.mrtaxman.com.au/blog/lifesaver-3-bosses-on-how-jobkeeper-has-kept-their-business-afloat Tue, 28 Apr 2020 00:00:00 GMT How to code your Cash Flow Boost Payments http://www.mrtaxman.com.au/blog/a-covid-19-tip-from-mr-taxman-15 Thu, 23 Apr 2020 00:00:00 GMT Residential and commercial property investors are set to make bigger tax claims as COVID-19 reduces the rent. http://www.mrtaxman.com.au/blog/landlords-line-up-to-claim-property-losses Wed, 22 Apr 2020 00:00:00 GMT Deferring compulsory HECS/HELP/TSL/VSL repayments http://www.mrtaxman.com.au/blog/a-covid-19-tip-from-mr-taxman-14 Thu, 16 Apr 2020 00:00:00 GMT How business owners can claim the JobKeeper subsidy if not on the payroll (eg due to receiving dividends or family trust distributions only) http://www.mrtaxman.com.au/blog/a-covid-19-tip-from-mr-taxman-13 Tue, 14 Apr 2020 00:00:00 GMT Accountants are warning the new 80c per hour work from home deduction shortcut is for the "lazy" and could leave you up to $1000 short. http://www.mrtaxman.com.au/blog/working-from-home-claims-shortcut-could-leave-you-up-to-1000-out-of-pocket-accountants-warn Mon, 13 Apr 2020 00:00:00 GMT The COVID-19 driven transition to working from home has driven a surge in purchases of desks, printers, and other office supplies - but when tax time comes, experts warn not to jump too quickly at a shortcut tax deduction introduced by the Australian Taxation Office (ATO). http://www.mrtaxman.com.au/blog/ato-makes-call-on-working-from-home-deductions--its-80-cents-per-hour Thu, 09 Apr 2020 00:00:00 GMT Household finances are severely stretched at the moment, and finding savings has never been more important. http://www.mrtaxman.com.au/blog/home-office-expenses--a-current-affair-segment Thu, 09 Apr 2020 00:00:00 GMT WFH? Change your postal address from work to home. http://www.mrtaxman.com.au/blog/a-covid-19-tip-from-mr-taxman-12 Wed, 08 Apr 2020 00:00:00 GMT Home office expenses update from the ATO. http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-11 Wed, 08 Apr 2020 00:00:00 GMT Pre-register for early access to superannuation http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-10 Fri, 03 Apr 2020 00:00:00 GMT Vary your PAYG Instalments to zero as part of COVID-19 relief from the Government. http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-9 Thu, 02 Apr 2020 00:00:00 GMT Many individuals who regularly supported charities are now tightening their purse strings due to COVID-19 and an uncertain financial future. The impact is being felt. http://www.mrtaxman.com.au/blog/when-the-giving-gets-tough-donations-shortfall-puts-charities-on-life-support Tue, 31 Mar 2020 00:00:00 GMT A great infographic prepared by Michael Armstrong which summarises all of the various incentives that are out there for SMEs. http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-8 Tue, 31 Mar 2020 00:00:00 GMT JobKeeper Subsidy http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-7 Tue, 31 Mar 2020 00:00:00 GMT Tens of thousands of residential investors face financial hardship as a result of the ban on evicting tenants, which will not be offset through tax relief and mortgage reprieves, experts say. http://www.mrtaxman.com.au/blog/grim-outlook-for-landlords-facing-ticking-time-bomb Mon, 30 Mar 2020 00:00:00 GMT As the damage of COVID-19 continues to mount, there are steps property investors can take now to ride the financial pain. http://www.mrtaxman.com.au/blog/landlords-guide-to-navigating-the-pandemic Sat, 28 Mar 2020 00:00:00 GMT Making work-related calls from home http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-6 Fri, 27 Mar 2020 00:00:00 GMT Sole Traders who have been affected by the COVID-19 crisis and have seen more then a 20% drop in their income can apply for early release of their superannuation. They can access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21. This will be available mid-April 2020. But the question remains, is it a good idea for Sole Traders to access their superannuation? We spoke to 5 experts to get their thoughts. http://www.mrtaxman.com.au/blog/should-sole-traders-access-their-superannuation Thu, 26 Mar 2020 00:00:00 GMT Getting relief from loans http://www.mrtaxman.com.au/blog/a-covid-19-tip-from-mr-taxman-5 Wed, 25 Mar 2020 00:00:00 GMT Golden rules on mortgage holidays http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-4 Wed, 25 Mar 2020 00:00:00 GMT Tax on redundancies http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-3 Wed, 25 Mar 2020 00:00:00 GMT Download the myDeductions App from the ATO http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-2 Wed, 25 Mar 2020 00:00:00 GMT One consequence of a slowing econmu is that more people are likely to experience redundancy. Redundancy is a stressevent, but if it happens to you, there are ways in which its impact can be reduced. http://www.mrtaxman.com.au/blog/coping-with-redundancy Fri, 20 Mar 2020 00:00:00 GMT Working from home http://www.mrtaxman.com.au/blog/a-covid-19-tax-tip-from-mr-taxman-1 Tue, 25 Feb 2020 00:00:00 GMT Millions of Aussies enjoyed $1000-plus tax rebates last year but new research shows it was not spent in the way the government and retailers were hoping. http://www.mrtaxman.com.au/blog/how-we-spent-last-year-s-tax-cuts-not-what-the-retailers-wanted Sun, 09 Feb 2020 00:00:00 GMT Generous Australians are digging deep and donating to help those impacted by the bushfire crisis. But there are a few things to consider before handing over your cash. http://www.mrtaxman.com.au/blog/the-important-thing-to-consider-before-donating-to-the-bushfire-appeal Sun, 12 Jan 2020 00:00:00 GMT It's the expense claimed by millions at tax time. But officials are warning Aussie taxpayers to be careful when lodging their returns if they don't want to get hit with huge penalties. http://www.mrtaxman.com.au/blog/ato-crackdown-on-motorists-making-dodgy-car-claims Tue, 25 Jun 2019 00:00:00 GMT As June 30 approaches, it's time to examine your super and the tax-saving strategies available, depending on how much you earn. http://www.mrtaxman.com.au/blog/think-about-tax-strategies-before-planning-your-retirement Mon, 17 Jun 2019 00:00:00 GMT The election is just over a week away so under which political party will you be left financially better off? http://www.mrtaxman.com.au/blog/federal-election-2019-which-party-will-leave-you-financially-better-off Thu, 09 May 2019 00:00:00 GMT PwC has announced its partners pay an average tax rate of 37 per cent, with CEO Luke Sayers saying the firm was "a significant contributor to Australia's economy and tax system". http://www.mrtaxman.com.au/blog/pwc-reveals-partners-average-tax-rate-with-starting-pay-of-350k Wed, 01 May 2019 00:00:00 GMT TAX time ends this week, and if you still haven't lodged yours by now there are a few ways to avoid potentially painful penalties. http://www.mrtaxman.com.au/blog/do-your-tax-in-under-30-minutes-then-spend-the-refund-wisely Sun, 28 Oct 2018 00:00:00 GMT MANY Aussies are relying on myths to finish their tax returns, with the ATO warning they are under increasing scrutiny. http://www.mrtaxman.com.au/blog/tax-time-myths-can-cost-you-your-refund-warns-ato Mon, 30 Jul 2018 00:00:00 GMT TAX time can be complex and confusing, resulting in millions of Australians missing out on claiming all the deductions they're entitled to. Here are 20 tax claims you should think about. http://www.mrtaxman.com.au/blog/20-tax-deductions-to-help-the-ato-give-you-extra-cash-this-year Sat, 14 Jul 2018 00:00:00 GMT TAX time is just days away, and the ATO has revealed it won't be holding back on audits and reviews this year. Find out the mistakes you need to avoid to keep more money in your pocket. http://www.mrtaxman.com.au/blog/five-big-mistakes-aussies-are-making-on-their-tax-returns Wed, 27 Jun 2018 00:00:00 GMT THE Banking Royal Commission has put the spotlight on the banks, financial institutions, the corporate regulator and even some government MPs - and none of them are looking good. Here's what has come out so far. http://www.mrtaxman.com.au/blog/royal-commission-uncovers-sins-of-the-banks-and-more-is-to-come Sat, 21 Apr 2018 00:00:00 GMT A tax audit strikes fear into the heart of almost every Australian taxpayers. As the ATO uses technology to spot dodgy claims, this is how to avoid making a costly error. http://www.mrtaxman.com.au/blog/how-the-rising-risk-of-an-ato-tax-audit-affects-you Sat, 07 Apr 2018 00:00:00 GMT EMPLOYEES are getting themselves into hot water with the Australian Taxation Office by over-claiming deductions for work-related expenses. http://www.mrtaxman.com.au/blog/australian-taxation-office-warns-workers-about-over-claiming Mon, 19 Feb 2018 00:00:00 GMT Mr Taxman, aka Adrian Raftery, PHD, MBA, B.Bus, FCA, F Fin, FTIA, MAICD has over 25 years' experience in providing accounting services and financial advice to businesses and individuals. We explore how he came to be named Best for Financial and Accountancy Advice - Australia in our prestigious 2017 Global Excellence Awards. http://www.mrtaxman.com.au/blog/mr-taxman-talking-you-through-taxation Fri, 09 Feb 2018 00:00:00 GMT Lobby groups are continuing to call for the superannuation guarantee to be increased to 12% of a worker's wages, but a new report from the Grattan Institute claims this won't fix problems in Australia's retirement savings system. http://www.mrtaxman.com.au/blog/increasing-the-superannuation-guarantee-to-12-won-t-fix-retirement-savings-grattan-institute Fri, 09 Feb 2018 00:00:00 GMT The FASEA board "rushed out" its initial guidance and will be open to making changes following the consultation period, including potentially abolishing the '10-year rule', says a financial planning academic. http://www.mrtaxman.com.au/blog/fasea-tipped-to-scrap-10-year-rule Thu, 08 Feb 2018 00:00:00 GMT A poll of ifa readers has indicated the vast majority of advisers plan to exit the industry after the introduction of FASEA's mandatory education standards, dwarfing previous predictions. http://www.mrtaxman.com.au/blog/research-confirms-adviser-exit-fears Tue, 16 Jan 2018 00:00:00 GMT "I am not the official mascot for Ireland - I don't think there is one - but I like to be considered as Ireland's unofficial 12th man", says Ireland's fan Larry leprechaun. http://www.mrtaxman.com.au/blog/i-wish-ireland-emulate-sri-lanka-to-lift-a-world-cup-and-thump-england-in-our-debut-test-at-lord-s--says-ireland-s-devotee-larry-leprechaun Tue, 03 Oct 2017 00:00:00 GMT An associate professor of financial planning reckons between 21 and 34 per cent of advisers will leave the industry due to state-mandated education requirements. http://www.mrtaxman.com.au/blog/third-of-advisers-to-exit-academic-claims Tue, 05 Sep 2017 00:00:00 GMT Accounting experts have raised concerns business owners and individuals still have their heads in the sand over new superannuation rules, as accountants report chaos in determining how the new system applies to their clients. http://www.mrtaxman.com.au/blog/new-superannuation-rules-continue-to-confuse-in-rollout-phase-are-business-owners-seeking-the-advice-they-need-in-time Tue, 08 Aug 2017 00:00:00 GMT TAX time moves up a gear this weekend and many Australians are missing out on big money by forgetting deductions they are entitled to claim. http://www.mrtaxman.com.au/blog/missing-these-forgotten-deductions-can-cost-you-thousands-at-tax-time Fri, 14 Jul 2017 00:00:00 GMT The Australian Taxation Office has been criticised for targeting regular hard-working Australians instead of multinational corporations, but an expert says taxpayers should not be deterred from claiming everything they are entitled to. http://www.mrtaxman.com.au/blog/don-t-let-the-ato-scare-you-off-work-deductions Mon, 10 Jul 2017 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/red-light-for-taxpayers-rushing-to-receive-a-quick-refund-who-could-cop-a-shock-for-being-too-quick Sun, 09 Jul 2017 00:00:00 GMT JULY is the cruellest month. T.S. Eliot claimed in 'The Wasteland' that it was April, but he was wrong. As anyone who has stared down June 30th knows, July brings with it a heavy burden of guilt. http://www.mrtaxman.com.au/blog/if-you-fear-paperwork-and-avoid-your-taxes-it-could-cost-you Thu, 06 Jul 2017 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/start-of-financial-year-tax-planning Sat, 01 Jul 2017 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/tax-return-2017-mistakes-to-avoid-this-financial-year Wed, 28 Jun 2017 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/tax-saving-strategies-to-get-in-place-before-june-30 Fri, 23 Jun 2017 00:00:00 GMT As financial planning dealer groups continue to conduct internal reviews of past planning practices and breach incidents, the industry must be ready to share this information with new entrants to help bolster the integrity of the profession, according to a leading academic. http://www.mrtaxman.com.au/blog/ethics-transparency-needed-for-new-entrants Wed, 21 Jun 2017 00:00:00 GMT Members of the advice sector have responded to the FPA's proposed adviser education transition program, with one academic saying the bar it sets for achieving 'degree equivalent' status is too low. http://www.mrtaxman.com.au/blog/fpa-education-plan-sets-bar-low-academic-says Tue, 13 Jun 2017 00:00:00 GMT MONEY mistakes made in the next month can potentially cost you plenty at tax time. http://www.mrtaxman.com.au/blog/beware-of-june-mistakes-that-can-make-tax-time-a-costly-headache Mon, 29 May 2017 00:00:00 GMT A Deakin University associate professor has criticised financial advisers who say they cannot afford a university degree, calling it a "laughable" excuse http://www.mrtaxman.com.au/blog/deakin-professor-slams-advisers-for-laughable-education-excuse Mon, 29 May 2017 00:00:00 GMT 101 Ways to Save Money on Your Tax - Legally! is the Australian taxpayer's essential guide to maximising returns. Comprehensively updated for 2017-2018, this indispensable resource explains all of the changes to the May 2017 budget to help you pay what you owe and not a penny more. You'll find answers to common questions, tax traps to avoid and plenty of tips from Mr. Taxman himself that can save you hundreds or even thousands of dollars! http://www.mrtaxman.com.au/blog/101-ways-to-save-money-on-your-tax-legally Sun, 28 May 2017 00:00:00 GMT MORE than three million small businesses could be eligible for a tax cut this financial year after federal parliament agreed to lower the tax rate for all companies with a turnover of $10 million or less to 27.5 per cent. http://www.mrtaxman.com.au/blog/tax-cuts-aimed-at-giving-small-businesses-a-shot-in-the-arm Mon, 01 May 2017 00:00:00 GMT With dramatic changes to superannuation just 10 weeks away, family trusts are becoming more popular as the "next best" investment vehicle for those who have more to invest than the new super rules will allow. Financial advisers note a marked increase in clients wanting to set one up, either dismayed by how little they'll be able to get into super after July 1 or fed up with government changes to retirement savings. http://www.mrtaxman.com.au/blog/super-changes-push-more-to-family-trusts Fri, 21 Apr 2017 00:00:00 GMT The new financial year will soon be here which comes with it the annual obligation to submit our income tax return by 31 October. For many of us, the process is as painful as having your teeth pulled but the rewards can be great. Dr Adrian Raftery, an Associate Professor at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2017-2018 edition (Wiley, June 2017, AU$25.95) shares with us seven common mistakes to avoid when doing your tax this year. http://www.mrtaxman.com.au/blog/seven-most-common-tax-mistakes-or-seven-deadly-sins Thu, 20 Apr 2017 00:00:00 GMT Deakin Business School's financial planning programs prepared to meet new legislative demands http://www.mrtaxman.com.au/blog/reforms-set-to-boost-the-professional-standards-of-financial-planners Fri, 07 Apr 2017 00:00:00 GMT A buy-now-pay-later mentality has left many high-debt households vulnerable http://www.mrtaxman.com.au/blog/the-net-worth-reality-check-you-desperately-need Fri, 24 Mar 2017 00:00:00 GMT According to Adrian Raftery, course director of Financial Planning at Deakin University, there are six golden rules to follow when setting financial goals. http://www.mrtaxman.com.au/blog/setting-financial-goals-and-sticking-to-them Fri, 10 Feb 2017 00:00:00 GMT When it comes to romantic gestures this Valentine's Day getting your financial house in order could be just as much a symbol of love as flowers and chocolates, according to a Deakin University financial planning expert. http://www.mrtaxman.com.au/blog/valentines-day-when-matters-of-the-wallet-and-matters-of-the-heart-collide Wed, 08 Feb 2017 00:00:00 GMT With many bank balances worse for wear after the holiday season, a Deakin University financial planning expert says now is a good time to get on top of money matters and plan to be in better financial health by Christmas 2017. http://www.mrtaxman.com.au/blog/don-t-let-money-be-the-grinch-who-stole-christmas-in-2017 Wed, 18 Jan 2017 00:00:00 GMT The new year is a great time to get serious about your finances according to Deakin University's financial planning Associate Professor Adrian Raftery. http://www.mrtaxman.com.au/blog/ten-great-new-year-s-money-resolutions Mon, 16 Jan 2017 00:00:00 GMT ENTERPRISING Australians who hope to join millions of others making money from Uber, Airbnb, eBay, Gumtree and other sharing economy services this year are being urged to beware of the taxman. http://www.mrtaxman.com.au/blog/aussies-warned-extra-cash-earned-online-is-being-tracked-by-taxman-s-technology Sat, 14 Jan 2017 00:00:00 GMT REAL estate investors who buy new instead of old property can save more than $5000 a year from tax deductions and other benefits, but are being warned to crunch all the numbers before taking the plunge. http://www.mrtaxman.com.au/blog/tax-is-key-in-the-new-versus-old-property-debate-for-investors Fri, 09 Dec 2016 00:00:00 GMT A senior banker has likened first home buyers to an endangered species amid deepening concern over the exodus of young adults from the residential property market. http://www.mrtaxman.com.au/blog/first-home-buyers-face-market-extinction Wed, 07 Dec 2016 00:00:00 GMT Businesses should review their obligations for compulsory superannuation contributions or potentially suffer the consequences, say experts, as a spotlight is shone on the $3.6 billion of unpaid super across the nation. http://www.mrtaxman.com.au/blog/unpaid-super-tally-hits-3-6-billion-are-you-paying-your-employees-superannuation-correctly Mon, 05 Dec 2016 00:00:00 GMT Almost one in four Australians gets their first credit card in their late teens, according to a recent study by comparison website Finder. http://www.mrtaxman.com.au/blog/at-what-age-are-you-ready-for-a-credit-card Sat, 05 Nov 2016 00:00:00 GMT The great Australian tax rort of claiming $300 in deductions even if you don't have receipts has finally been confirmed. http://www.mrtaxman.com.au/blog/the-great-australian-tax-rort-revealed Mon, 31 Oct 2016 00:00:00 GMT TAX time ends one week from today and people yet to lodge their return are being urged to act now to avoid hefty penalties and interest charges. http://www.mrtaxman.com.au/blog/final-countdown-to-avoid-a-tax-hit Mon, 24 Oct 2016 00:00:00 GMT A leading financial services expert has described the rise in interest-only mortgages among first home buyers as "disturbing" and likely to trigger higher loan defaults in the future. http://www.mrtaxman.com.au/blog/first-home-buyers-are-flocking-to-risky-interest-only-mortgages Wed, 12 Oct 2016 00:00:00 GMT GROUP certificates and tax statements have now arrived but many people are still trying to find a good accountant to help them sort out their annual tax return. http://www.mrtaxman.com.au/blog/how-to-find-a-good-accountant-at-tax-time Tue, 26 Jul 2016 00:00:00 GMT The Tax Office is reportedly hunting down Australians who hide income derived from Uber and Airbnb. http://www.mrtaxman.com.au/blog/ato-demands-aussies-declare-income-from-uber Tue, 19 Jul 2016 00:00:00 GMT HANDBAGS, make-up, guard dogs and garden gnomes are among the deductions that may help deliver Australians a handy tax refund in the next couple of months. http://www.mrtaxman.com.au/blog/20-tax-deductions-you-didn-t-know-you-could-claim-from-the-ato Fri, 15 Jul 2016 00:00:00 GMT The Office of State Revenue (OSR) is currently undertaking a series of Payroll Tax Awareness Programs as part of our commitment to improve customer service. http://www.mrtaxman.com.au/blog/nsw-office-of-state-revenue-payroll-tax-awareness-program Mon, 27 Jun 2016 00:00:00 GMT THEY say there are only two certainties in life - deaths and taxes. But when it comes to tax time, some things may be less certain and you can't always bank on a refund. http://www.mrtaxman.com.au/blog/super-mortgage-small-business-benefits-how-to-get-more-money-from-your-tax-refund-in-2016 Wed, 22 Jun 2016 00:00:00 GMT Tax season is here and, after a few surprise changes in this year's budget, tax advisers' phones have been running hot with queries. http://www.mrtaxman.com.au/blog/tax-time-10-questions-to-ask-yourself-as-june-30-looms Fri, 17 Jun 2016 00:00:00 GMT With the end of the financial year looming, it pays to get your paperwork in order to make the most of deductions and benefits. http://www.mrtaxman.com.au/blog/5-things-to-do-before-30-june Thu, 16 Jun 2016 00:00:00 GMT E-TAX, the free online tax return system used by millions of taxpayers, has been shut down by the Australian Taxation Office. http://www.mrtaxman.com.au/blog/tax-office-turns-off-e-tax-and-replaces-it-with-free-faster-system Fri, 10 Jun 2016 00:00:00 GMT 30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, a senior lecturer in tax, financial planning and superannuation at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2016-2017 edition (Wrightbooks, June 2016, AU$24.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-the-family-or-individual-2015-16 Tue, 07 Jun 2016 00:00:00 GMT Adrian Raftery says there has been a noticeable increase in the number of financial planning firms engaging with Deakin University, wanting to make sure they have a chance of hiring graduates from Deakin's financial planning program. http://www.mrtaxman.com.au/blog/picking-up-graduate-talent-in-the-pre-season-draft Thu, 19 May 2016 00:00:00 GMT Most investors would tell you that building wealth is a thrill-ride, but planning for its survival doesn't quite elicit the same excitement. http://www.mrtaxman.com.au/blog/how-to-protect-your-familys-wealth Thu, 19 May 2016 00:00:00 GMT Uni's well and truly in session and your workload is gaining momentum like a steam train. Dreaming of pumping those breaks and travelling the world on your trimester break? We spoke to Dr Adrian Raftery, Senior Lecturer in Financial Planning and Superannuation at Deakin University, for some top tips to help students save for their dream holiday. http://www.mrtaxman.com.au/blog/saving-tips-for-your-dream-holiday Thu, 19 May 2016 00:00:00 GMT Yesterday the Assistant Treasurer, Kelly O'Dwyer, released a statement on "progressing professional standards reforms". Well, it's progress of a sort - if progress can be defined as delaying something by several years. http://www.mrtaxman.com.au/blog/free-kick-for-cowboys-a-kick-in-the-teeth-for-consumers Fri, 29 Apr 2016 00:00:00 GMT When Kylie met Amee they became BFFs, but neither foresaw the tragedies that would test their friendship and lead one to make the priceless offer: "I'll carry your baby". http://www.mrtaxman.com.au/blog/would-you-carry-a-child-for-your-best-friend Sun, 24 Apr 2016 00:00:00 GMT 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?" http://www.mrtaxman.com.au/blog/top-tax-deductions-youve-probably-forgotten-about Wed, 20 Apr 2016 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/negative-gearing-alert-the-first-rule-of-investing-is-to-make-a-profit Thu, 03 Mar 2016 00:00:00 GMT While other 70-year-olds may be planning exotic cruises or luxurious overseas holidays, state government veterinarian Colin McQueen continues to clock in at the Ararat export abattoir as he works to pay off the last of the three homes he bought in Melbourne's inner northern suburbs for his adult children. But he is far from bitter. Read more: http://www.afr.com/real-estate/residential/how-to-help-your-kids-get-into-the-property-market-20151109-gkudlv#ixzz3wcmiaXDB Follow us: @FinancialReview on Twitter | financialreview on Facebook http://www.mrtaxman.com.au/blog/how-to-get-your-kids-on-the-property-market Sat, 05 Dec 2015 00:00:00 GMT IT sounds like something from a spy movie, but instead of James Bond, it's coming from the Australian Taxation Office. http://www.mrtaxman.com.au/blog/the-ato-goes-hi-tech-to-help-taxpayers-and-catch-tax-cheats Sat, 28 Nov 2015 00:00:00 GMT Opposition Leader Bill Shorten says Treasurer Scott Morrison should focus on winding back generous superannuation tax breaks for millionaires if he is serious about fixing loopholes in the retirement system. http://www.mrtaxman.com.au/blog/wealthy-in-the-frame-in-superannuation-debate Thu, 29 Oct 2015 00:00:00 GMT Lack of clarity around the transitional arrangements for 22,500 existing financial planners, in light of the Federal Government's move to impose new minimum education standards on new planners, could risk them exiting the industry, a financial services training provider said. http://www.mrtaxman.com.au/blog/existing-planners-in-limbo-over-fsi-response Thu, 22 Oct 2015 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/tax-returns-act-now-to-avoid-the-ato-s-technology-trap-tracking-australians-hiding-from-the-taxman Sun, 27 Sep 2015 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/how-does-negative-gearing-really-work Fri, 21 Aug 2015 00:00:00 GMT There's nothing quite like the thrill of planning your first big overseas trip - the anticipation of stepping out into the great unknown for months, or even years, on end. http://www.mrtaxman.com.au/blog/basic-training-how-to-save-for-your-first-big-trip Fri, 21 Aug 2015 00:00:00 GMT EXCLUSIVE: Banks' investment home loan rate hikes will deliver a $400 million-plus hit to the Federal Budget. http://www.mrtaxman.com.au/blog/bank-investment-loan-rate-hikes-to-cost-federal-budget-400m-plus Sun, 09 Aug 2015 00:00:00 GMT TAXPAYERS eager to grab a quick refund are taking charge of their own tax return in record numbers. http://www.mrtaxman.com.au/blog/five-minute-tax-returns-spark-surge-in-diy-lodgement-at-ato Sat, 08 Aug 2015 00:00:00 GMT 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. http://www.mrtaxman.com.au/blog/get-your-share-of-27-billion-of-annual-tax-refunds Wed, 29 Jul 2015 00:00:00 GMT It's been revealed Australians have more than half a billion dollars in unclaimed cash just lying around and some of it could be yours. Tax and finance expert, Dr Adrian Raftery chats to TODAY about what you can do to get your hands on http://www.mrtaxman.com.au/blog/today-show--australias-unwanted-cash Tue, 28 Jul 2015 00:00:00 GMT Are you missing out on money you're entitled to? The good news is most of you are and now it's tax time, it's easy to get back. Well Mr taxman Adrian Raftery joins TODAY with your tax return S.O.S. http://www.mrtaxman.com.au/blog/today-show--exclusive-tax-tips Thu, 16 Jul 2015 00:00:00 GMT Cut out these pointless fees and you could find yourself hundreds or even thousands of dollars better off. http://www.mrtaxman.com.au/blog/the-hidden-fees-that-are-making-you-poorer Tue, 30 Jun 2015 00:00:00 GMT SAVVY Australians looking to maximum their tax breaks this financial year have only today left to do so. http://www.mrtaxman.com.au/blog/australian-taxpayers-still-have-some-easy-ways-to-make-last-minute-tax-breaks Tue, 30 Jun 2015 00:00:00 GMT EXCLUSIVE: The $30-million scandal engulfing motoring giant Fiat Chrysler Australia could go all the way to Detroit, taking in executives at the highest level. http://www.mrtaxman.com.au/blog/now-the-tax-office-is-taking-a-look-at-jeep-the-car-giant-could-get-hit-with-fringe-benefits-tax-bill-on-celebrity-cars Sat, 20 Jun 2015 00:00:00 GMT CAPITAL gains tax is one of the most confusing and painful payments to hit your personal finances. http://www.mrtaxman.com.au/blog/don-t-get-caught-out-by-capital-gains-tax Fri, 19 Jun 2015 00:00:00 GMT 30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, a senior lecturer in tax, financial planning and superannuation at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2015-2016 edition (Wrightbooks, June 2015, AU$24.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-the-family-or-individual-2014-15 Tue, 09 Jun 2015 00:00:00 GMT THE end of the financial year is fast approaching, and it's time to take advantage of available deductions and other tax-related benefits while you still can. http://www.mrtaxman.com.au/blog/shark-tank-judge-and-red-balloon-founder-naomi-simson-s-tips-for-tax-time Mon, 01 Jun 2015 00:00:00 GMT The government promised a 'boring' second budget, but there were still a couple of surprises in last night's announcement for Australia's investors. http://www.mrtaxman.com.au/blog/five-federal-budget-takeaways Wed, 13 May 2015 00:00:00 GMT Changes to business expenses tax cap the budget's main 'game changer'. http://www.mrtaxman.com.au/blog/surprise-sweeteners-may-grow-personal-wealth Wed, 13 May 2015 00:00:00 GMT Ireland v Pakistan - And with a pull for four from a Paul Stirling half-tracker, Ireland's courageous 2015 Cricket World Cup campaign was officially over as Pakistan ran out seven wicket winners on Sunday night at Adelaide Oval. http://www.mrtaxman.com.au/blog/larrys-world-cup-diary--give-us-a-test-match Wed, 18 Mar 2015 00:00:00 GMT Every country has the fans who go that extra mile - or flies tens of thousands of them - to support the players and team they love. They are the ones who arrive early, are clad head to toe in team colours, cheer the loudest, and make a cricket crowd all that much better. Here are some of the super fans lighting up CWC15: http://www.mrtaxman.com.au/blog/cwc15--the-superfans Sun, 15 Mar 2015 00:00:00 GMT Ireland v India - An eight wicket victory with 13 overs to spare may have seemed that it was a walk in the park by the Indians in their latest World Cup match in Hamilton but it was anything but that for the reigning world champions on Tuesday. Ireland's 259 was the highest total posted against the undefeated Indians across their five Pool B matches. We scored more (89 without loss) than any other country against them in the first fifteen overs. Better than Pakistan, West Indies and the South Africans. Not bad. Their run chase could have been so much different if centurymaker Shikhar Dhawan wasn't dropped twice early in his innings. Catches win matches and we will need to take these chances in our next game. http://www.mrtaxman.com.au/blog/larrys-world-cup-blog--when-swarmy-met-blarney Thu, 12 Mar 2015 00:00:00 GMT PEEL a banana, mash a banana, throw a banana, and let's go bananas!" Adrian Raftery is a university lecturer in Australia, teaching taxation. During World Cups, he lives out as 'Larry the leprechaun': he dons a long hat, sticks a fake beard and lets his inner child peek out as an exuberant Irish fan, following the team around. http://www.mrtaxman.com.au/blog/world-cup-express-larry-the-irish-leprechaun-is-singing--and-going-bananas Tue, 17 Feb 2015 00:00:00 GMT Many business owners start out with the idea of turning their fledgling enterprise into a big business, but only a handful achieve this. http://www.mrtaxman.com.au/blog/turn-your-small-business-into-a-big-one Mon, 16 Feb 2015 00:00:00 GMT I read a few articles with John Boy with interest this week, particularly this quote "The players are hungry because we don't want to be known as minnows any more." http://www.mrtaxman.com.au/blog/larrys-world-cup-diary--minnows-no-nay-never Thu, 12 Feb 2015 00:00:00 GMT Cobwebs. Warm-up matches are always full of them and Friday's clash against the local Randwick-Petersham club at Coogee Oval proved to be exactly that. Whether it was pre-match nerves, jet lag or we were playing against a club that were such lovely hosts over the past week, we just did not perform to our usual high standards. http://www.mrtaxman.com.au/blog/larrys-world-cup-diary--cobwebs-from-county-coogee Sun, 08 Feb 2015 00:00:00 GMT If you were walking down the street and saw $500 lying on the ground, what would you do? http://www.mrtaxman.com.au/blog/the-super-co-contribution-still-amongst-the-best-deals-in-town Fri, 06 Feb 2015 00:00:00 GMT A Deakin University tax expert has called on the Government to strengthen existing double tax treaty agreements to curtail the practice of foreign companies siphoning untaxed profits from Australia. http://www.mrtaxman.com.au/blog/transfer-pricing-rules-the-core-of-the-problem-deakin-tax-expert Wed, 28 Jan 2015 00:00:00 GMT Deakin's financial planning expert shares back to school savings tips http://www.mrtaxman.com.au/blog/raftery-back-to-school-tips-for-2015 Wed, 21 Jan 2015 00:00:00 GMT Financial planners still lag decades behind accountants in terms of educational requirements for those who practice within the two sectors, according to the head of one of Australia's largest financial planning university programs. http://www.mrtaxman.com.au/blog/financial-planners-are-50-years-behind-accountants-in-education-standards Mon, 12 Jan 2015 00:00:00 GMT What money "cobwebs" or financial issues have you got hanging over you that you want sorted in 2015? http://www.mrtaxman.com.au/blog/how-to-reach-your-2015-financial-goals Sat, 10 Jan 2015 00:00:00 GMT The last few years have been horror ones financially for alot of people. But 2015 is starting to look pretty good. Dr Adrian Raftery, senior lecturer in Financial Planning and Superannuation at Deakin University, provides a few ideas for creating your own list of New Year's resolutions to help put your finances in better shape in 2015. http://www.mrtaxman.com.au/blog/12-great-new-year-s-money-resolutions Tue, 06 Jan 2015 00:00:00 GMT FINANCIAL advice was at the centre of a raft of scandals, frauds, inquiries, reforms, rip-offs and multi-billion-dollar losses last year. http://www.mrtaxman.com.au/blog/that-s-sound-advice Sat, 03 Jan 2015 00:00:00 GMT Academics from Deakin University and the University of Western Sydney (UWS) have been named the winners of the 2015 Financial Planning Education Council (FPEC) Academic Research Grants, which are sponsored by the FPA. http://www.mrtaxman.com.au/blog/fpec-announces-2015-grant-recipients Fri, 07 Nov 2014 00:00:00 GMT The Financial Planning Education Council (FPEC) has announced the two winners of the 2015 FPEC Academic Research Grants to academics at Deakin University and the University of Western Sydney (UWS). http://www.mrtaxman.com.au/blog/fpec-announces-winners-of-2015-financial-planning-academic-research-grants Fri, 07 Nov 2014 00:00:00 GMT Professional Planner was a media partner to the AMP University Challenge 2014, and attended the announcement of this year's prizes announcement, for the five finalists, last Thursday evening. http://www.mrtaxman.com.au/blog/the-real-future-of-financial-planning-is-bright-light-and-fresh-air--if-we-want-it Mon, 13 Oct 2014 00:00:00 GMT It takes time, commitment and no small expense to achieve a professional designation. The payback comes in more ways than one. http://www.mrtaxman.com.au/blog/in-focus-the-professional-dividend-pays-off-in-more-ways-than-one Mon, 06 Oct 2014 00:00:00 GMT ANNUAL superannuation statements are hitting mailboxes. Instead of skipping to the closing total and filing it away take our super statement road test to see how your retirement savings are really travelling. http://www.mrtaxman.com.au/blog/road-test-your-super-statement-to-help-boost-your-retirement-nest-egg Sun, 28 Sep 2014 00:00:00 GMT The debate over abolishing negative gearing has been reignited by a new report. http://www.mrtaxman.com.au/blog/why-some-are-negative-about-negative-gearing Mon, 22 Sep 2014 00:00:00 GMT The Financial Planning Association of Australia (FPA) has offered to step back from the Financial Planning Education Council (FPEC) to give the council a chance to be recognised as the peak education standard-setting body for the whole financial planning industry. http://www.mrtaxman.com.au/blog/fpa-offers-to-give-fpec-to-the-profession-in-a-bid-to-raise-education-standards Mon, 15 Sep 2014 00:00:00 GMT The financial planning industry is awash in an alphabet soup of accreditations, certifications, designations and qualifications. http://www.mrtaxman.com.au/blog/understanding-the-alphabet-soup-of-financial-planning-s-new-education-standards Fri, 29 Aug 2014 00:00:00 GMT ONE in three Australians are choosing the do-it-yourself option at tax time and bypassing the need for an accountant to file their returns. http://www.mrtaxman.com.au/blog/paying-a-tax-agent-one-in-three-use-ato-s-diy-option Sat, 23 Aug 2014 00:00:00 GMT When starting up a new business, it's easy to get caught up in the marketing and sales aspects of the operation. Yet it's important to implement an organized accounting system right from the start, both to keep finances in line and to minimize confusion when tax deadlines roll around. http://www.mrtaxman.com.au/blog/essential-accounting-tips-for-small-business-owners Fri, 22 Aug 2014 00:00:00 GMT MILLIONS of taxpayers who do their own tax returns are being warned to watch out for the traps that can be costly at this time of the year. http://www.mrtaxman.com.au/blog/the-dangers-of-diy-tax Sun, 03 Aug 2014 00:00:00 GMT Do you drive for work purposes? Although in most cases you can't claim the expense of your daily commute on your taxes, if you use the car while performing your work duties you may have a valid deduction. It's worth taking a closer look at how and when you can deduct car-related expenses, in order to potentially save a bundle on transport. http://www.mrtaxman.com.au/blog/tips-for-deducting-work-related-car-expenses Thu, 31 Jul 2014 00:00:00 GMT The Commonwealth Bank has moved to tighten up the education standards of its financial planners, in a pre-emptive move to get changes in place ahead of likely formal obligations down the track. http://www.mrtaxman.com.au/blog/cba-lifts-planners-education-standards Sat, 19 Jul 2014 00:00:00 GMT BUMPER returns on retirement savings have delivered double-digit growth for fund members but making slight tweaks to accounts can also help add thousands of dollars to your balance. http://www.mrtaxman.com.au/blog/5-key-steps-to-soup-up-your-super Mon, 07 Jul 2014 00:00:00 GMT SELF-MANAGED super funds have slammed proposals to cap the amount wealthy investors can accumulate in the tax-advantaged funds at $2.5 million. http://www.mrtaxman.com.au/blog/smsfs-reject-super-cap-plan Sat, 05 Jul 2014 00:00:00 GMT The new financial year has arrived which comes with it the annual obligation to submit our income tax return by 31 October. For many of us, the process is as painful as having your teeth pulled but the rewards can be great. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95) shares with us seven common mistakes to avoid when doing your tax this year. http://www.mrtaxman.com.au/blog/the-seven-deadly-tax-sins-for-2013-14 Wed, 02 Jul 2014 00:00:00 GMT IT'S entirely erroneous to believe running a self-managed super fund is much more expensive than being a member of a super fund regulated by the Australian Prudential Regulation Authority, says Adrian Raftery. http://www.mrtaxman.com.au/blog/smsfs-can-prove-cheaper-to-manage-if-the-size-is-right Tue, 01 Jul 2014 00:00:00 GMT The only constant about tax is change. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), provides us with some of the tax changes coming into play from 1 July 2014. http://www.mrtaxman.com.au/blog/ten-tax-changes-taking-effect-1-july-2014 Tue, 01 Jul 2014 00:00:00 GMT The only constant about tax is change. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), provides us with some of the new tax rules that came into effect in 2013/14. http://www.mrtaxman.com.au/blog/eight-new-tax-rules-in-2013-14 Mon, 30 Jun 2014 00:00:00 GMT Although higher earners are in the spotlight with the debt levy, not many people will escape paying higher tax thanks to a raft of changes from July 1. There are also more opportunities to build tax-effective superannuation in the new financial year, as well as other tweaks that may affect your household's bottom line. http://www.mrtaxman.com.au/blog/eight-tax-tweaks-heading-your-way Mon, 30 Jun 2014 00:00:00 GMT Tax time; those two simple words strike horror in the hearts of millions of taxpayers. http://www.mrtaxman.com.au/blog/top-tips-for-tax-time Thu, 26 Jun 2014 00:00:00 GMT Over 1.88 million people claimed more than $41.8 billion in rental deductions in their tax return last year. With June 30 rapidly approaching, it is time to do some urgent tax planning. Here are some excellent tips from Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), for you to action and maximise your tax refund from your rental property this year. http://www.mrtaxman.com.au/blog/nine-tax-tips-for-rental-property-investors Sun, 22 Jun 2014 00:00:00 GMT Small business entities (SBE's) - businesses with annual turnover of under $2 million - have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), gives some excellent tips for small business owners to action and minimise your business' tax bill this year. http://www.mrtaxman.com.au/blog/top-ten-tax-tips-for-small-business-in-2013-14 Sat, 21 Jun 2014 00:00:00 GMT 30 June is rapidly approaching and it is time to do some urgent tax planning. Dr Adrian Raftery, a senior lecturer at Deakin University and author of 101 Ways to Save Money on Your Tax - Legally! 2014-2015 edition (Wrightbooks, June 2014, AU$24.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-2013-14 Fri, 20 Jun 2014 00:00:00 GMT Australia's $800 billion underinsurance problem is predicted to rise as the fallout of last month's Federal Budget continues. http://www.mrtaxman.com.au/blog/insurance-policy-drop-off-expected-from-budget-pain Sat, 14 Jun 2014 00:00:00 GMT Tax expert Adrian Raftery has released his latest edition of 101 ways to save money on your tax - legally to help you minimise your tax debt while maximising your return. Raftery is one of the youngest Australian accountants to advance to Fellowship with the Institute of Chartered Accountants, at the age of 33. He is a senior lecturer at Deakin University and appears in the media talking about all matters relating to tax and finance. http://www.mrtaxman.com.au/blog/money-magazines-book-of-the-month-101-ways-to-save-money-on-your-tax--legally Thu, 05 Jun 2014 00:00:00 GMT If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows: http://www.mrtaxman.com.au/blog/2014-15-fee-schedule Wed, 04 Jun 2014 00:00:00 GMT THEY are the daily habits you may not even think about, but chances are they're adding up to thousands of dollars a year. http://www.mrtaxman.com.au/blog/money-experts-reveal-the-daily-money-habits-that-are-costing-you-thousands Fri, 16 May 2014 00:00:00 GMT The Budget's tough reforms will highlight some handy financial lessons for everyday Australians. http://www.mrtaxman.com.au/blog/budget-lessons-we-can-learn-from-joe-hockey Mon, 12 May 2014 00:00:00 GMT Fears of an emerging systemic risk in the self-managed super funds sector - home for more than $530 billion in Australian retirement savings and the ­nation's fastest-growing nest egg - have promoted a call for a radical overhaul of the supervision of the SMSF sector. http://www.mrtaxman.com.au/blog/cracks-appear-in-nation-s-nest-egg Sat, 10 May 2014 00:00:00 GMT The one millionth Australian has become a member of a self-managed superannuation fund according to Australian Taxation Office (ATO) statistics to be released later this month. http://www.mrtaxman.com.au/blog/smsfs-reach-magic-million-mark Wed, 07 May 2014 00:00:00 GMT If you could go back and give your teenage self some sage money advice, what would it be? With Year 12 exams over and our region's school leavers contemplating their next move, we asked 'Mr Taxman' Adrian Raftery for his top money tips for school leavers to set them up for a prosperous future. http://www.mrtaxman.com.au/blog/money-tips-for-2013-school-leavers Wed, 20 Nov 2013 00:00:00 GMT Renting out your property can be a great way to earn some extra income, but there are tax implications that it's important to be aware of before you put your home on the market. The most significant of these is the capital gains tax, or CGT, that you must pay upon the eventual sale of your investment property. However, by taking a closer look at how the CGT is calculated, you may find an exemption that you qualify for. There are certain exemptions allowed by the Australian Taxation Office, including those who rent out their primary residence. http://www.mrtaxman.com.au/blog/little-known-ways-to-reduce-capital-gains-tax-on-your-investment-property Wed, 02 Oct 2013 00:00:00 GMT Trustees of self-managed superannuation funds (SMSF) may have caught their breath this week when they read that the Australian Taxation Office had its eye on capital gains that were going tax-free once members moved into the pension phase. http://www.mrtaxman.com.au/blog/is-selling-assets-on-retirement-tax-avoidance-not-so-fast Fri, 16 Aug 2013 00:00:00 GMT I've spoken on several occasions about the benefits of using a log book to track your vehicle's expenses and usage. By maintaining a record of capital costs, upkeep and other outlays you can claim your vehicle as a tax deduction. Many of you have been concerned about the change and what it means for you - below are eight answers to your most common questions. http://www.mrtaxman.com.au/blog/8-frequently-asked-questions-about-the-fbt-changes-answered Fri, 26 Jul 2013 00:00:00 GMT Tax changes announced by the government could have an impact on Australian car production, warn industry insiders. Prime Minister Kevin Rudd confirmed that the existing carbon tax would be removed; replaced with a separate emissions trading scheme. This would reduce the current carbon tax from $25 a tonne to only $6 per tonne. To make up for the $4 billion in revenue lost by the cut in the carbon tax, Rudd's government proposes to reform an existing 20% fringe benefits tax for cars. It's expected that this could have a serious impact on new car sales as a result. http://www.mrtaxman.com.au/blog/could-the-carbon-tax-reform-hurt-the-australian-car-industry Fri, 19 Jul 2013 00:00:00 GMT Today the ATO has released "Compliance in focus 2013-14" which replaces their previous annual compliance program booklet. This new online product, which the ATO developed in consultation with tax professionals, will be updated throughout the year to keep you informed of new issues and risks as they arise. http://www.mrtaxman.com.au/blog/ato-announces-its-hit-list-for-2013-14 Tue, 16 Jul 2013 00:00:00 GMT The only constant about tax is change. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), provides us with some of the tax changes coming into play from 1 July. http://www.mrtaxman.com.au/blog/eight-tax-changes-taking-effect-from-1-july-2013 Thu, 27 Jun 2013 00:00:00 GMT The only constant about tax is change. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), provides us with some of the new tax rules that came into effect in 2012/13. http://www.mrtaxman.com.au/blog/12-new-tax-rules-this-year Tue, 25 Jun 2013 00:00:00 GMT Tax time is fast approaching and it's filling small business owners with dread - with one in five (19%) claiming they'd rather clean the workplace toilet than complete the annual tax return. http://www.mrtaxman.com.au/blog/small-business-owners-prefer-cleaning-toilets-to-completing-tax-returns Thu, 20 Jun 2013 00:00:00 GMT It's a painful task for most of us, yet when it comes to filing our tax returns it seems many are committing the seven deadly sins and heading straight to money hell. But a leading tax expert says we can at least head straight to tax purgatory and even heaven if we avoid some of the most common pitfalls and mistakes. http://www.mrtaxman.com.au/blog/the-seven-deadly-tax-sins-youll-be-paying-for-now-and-later Wed, 19 Jun 2013 00:00:00 GMT Over 1.8 million people claimed more than $38.5 billion in rental deductions in their tax return last year. With June 30 rapidly approaching, it is time to do some urgent tax planning. Here are some excellent tips from Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), for you to action and maximise your tax refund from your rental property this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-rental-property-owners Wed, 19 Jun 2013 00:00:00 GMT Small business entities (SBE's) - businesses with annual turnover of under $2 million - have access to a range of concessions which not only help reduce their taxable income but are also designed to make tax administration easier. Mr Taxman, Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), gives some excellent tips for small business owners to action and minimise your business' tax bill this year. http://www.mrtaxman.com.au/blog/ten-tax-tips-for-small-business Tue, 18 Jun 2013 00:00:00 GMT June 30 is rapidly approaching and it is time to do some urgent tax planning. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2013-14 edition (Wrightbooks, June 2013, AU$24.95), gives some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/mr-taxmans-top-ten-tax-tips-for-2013 Tue, 18 Jun 2013 00:00:00 GMT Long-held tax myths continue to plague Australian small businesses, exposing many to substantial tax penalties, according to the latest small business research. http://www.mrtaxman.com.au/blog/tax-myths-expose-small-businesses-to-substantial-penalties Mon, 17 Jun 2013 00:00:00 GMT If you drool as you compare cars online, you'll want to know the full extent of what you'll have to pay. Cars in Australia are subject to a variety of taxes. http://www.mrtaxman.com.au/blog/the-full-cost-of-motoring-in-australia Mon, 17 Jun 2013 00:00:00 GMT If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows: http://www.mrtaxman.com.au/blog/2013-14-fee-schedule Mon, 17 Jun 2013 00:00:00 GMT Australian workers waste an estimated 71 million hours on office technology problems each year costing businesses in excess of $1.1 billion according to latest small business research commissioned by Dick Smith. http://www.mrtaxman.com.au/blog/office-workers-waste-two-weeks-a-year-on-paper-jams Fri, 10 May 2013 00:00:00 GMT ECONOMISTS and tax specialists have warned the RBA may have to cut rates to offset the impact of a Medicare levy hike and that governments may adopt levies to fund future promises. http://www.mrtaxman.com.au/blog/medicare-levy-could-push-rba-rates-cut Thu, 02 May 2013 00:00:00 GMT Joint media release by Federal Treasurer Wayne Swan & Misnister for Superannuation, Bill Shorten. Mr Taxman's comments at end. http://www.mrtaxman.com.au/blog/tax-change-of-the-treatment-of-earnings-on-superannuation-assets-supporting-income-streams Fri, 05 Apr 2013 00:00:00 GMT Self-managed superannuation fund (SMSF) advocates are warning the Government to back off as it considers raiding the system to pay for its policy commitments. http://www.mrtaxman.com.au/blog/diy-super-funds-up-in-arms-over-budget-speculation Thu, 28 Mar 2013 00:00:00 GMT There may be three months to go before the end of the financial year, but it's actually March when the really money-savvy fine-tune their finances for tax time. http://www.mrtaxman.com.au/blog/the-tax-man-cometh Sat, 09 Mar 2013 00:00:00 GMT In most instances a Quantity Surveyor will conduct a property inspection when preparing a tax depreciation schedule. Sometimes this is not required, for example - if a property has been built by the owner or the Quantity Surveyor has previously inspected a unit within the same complex. A good Quantity Surveyor knows when an inspection is not needed, and this generally results in a saving to the owner/investor. But if certain information is overlooked you will miss out on significant tax deductions. http://www.mrtaxman.com.au/blog/tax-depreciation-schedule-inspections--when-is-an-inspection-required Fri, 08 Mar 2013 00:00:00 GMT I'm often asked where 'effective lives' come from, and the short answer is the Commissioner of Taxation. The long answer is a lot more complicated than that. http://www.mrtaxman.com.au/blog/property-tax-depreciation--how-does-the-commissioner-determine-the-effective-life-of-a-depreciating-asset Fri, 01 Mar 2013 00:00:00 GMT Transcript of a speech made by Alison Lendon, the Deputy Commissioner of Superannuation to the 2013 SPAA SMSF National Conference, on 15 February 2013 in Melbourne. http://www.mrtaxman.com.au/blog/ato-compliance-update-for-self-managed-superannuation-funds Thu, 28 Feb 2013 00:00:00 GMT With the government mulling over a tax increase on superannuation earnings for the wealthy in the May budget and the opposition wading in with their own plans for those on lower incomes we can smell a class war. Things are hotting up for this year's election as politicians play out this little class war in the parliamentary battle ground but we want to take a look at how it affects taxpayers in the real world. http://www.mrtaxman.com.au/blog/tax-hike-for-super-funds-could-be-in-a-class-of-its-own Sun, 24 Feb 2013 00:00:00 GMT Here is a beautifully written story on the front page of Saturday's Daily Telegraph which chronicles an important chapter in our lives - the birth of our son Hamish. http://www.mrtaxman.com.au/blog/forging-a-bond-and-sharing-the-joy Sat, 16 Feb 2013 00:00:00 GMT On 10 December 2012, changes to the age eligibility rule for the mature age worker tax offset became law. http://www.mrtaxman.com.au/blog/mature-age-worker-tax-offset-changes-in-2012-13 Thu, 14 Feb 2013 00:00:00 GMT Tax help and support is in place to help people affected by the recent Queensland and New South Wales floods. http://www.mrtaxman.com.au/blog/ato-helping-flood-affected-areas Wed, 13 Feb 2013 00:00:00 GMT From 28 December 2012, the failure to lodge on time penalty has increased by 55%, from $110 per penalty unit to $170 per unit. http://www.mrtaxman.com.au/blog/failure-to-lodge-on-time-penalty-increased Fri, 11 Jan 2013 00:00:00 GMT Reader question: My husband is German and I am Australian we are living and working in Australia, we would like to invest in a property in Germany and rent it out. Are the tax implications the same as investing in Australia? Would we be able to reduce our taxable income same as we would if having an investment property here, negative gearing? http://www.mrtaxman.com.au/blog/nothing-negative-about-investing-in-germany Sat, 05 Jan 2013 00:00:00 GMT Reader question: I am in the process of buying some land and constructing an investment property in my name. Cost will be 470k when ready. It will be available for residing in 10 months' time. The loan is an investment loan in my name only. Can I move in the house for say 1-2 weeks without changing it to ... http://www.mrtaxman.com.au/blog/ppr-exemption-and-deductions-if-not-rented Fri, 04 Jan 2013 00:00:00 GMT Reader question: I will be moving overseas soon and will require long term income from an investment in Australia. I was thinking of purchasing property and having the rent as a source of income, but after careful reading on the ATO website it seems I would be deemed a non-resident of Australia for tax purposes, therefore rental income would ... http://www.mrtaxman.com.au/blog/buying-property-as-non-resident Sun, 23 Dec 2012 00:00:00 GMT Reader question: I am 63 and my wife who is 61 wish to move into our investment property when I reach 65. I understand there would be no capital gains unless I sell the property. But we do wish to move into a newer home and sell this property eventually. Is there a grace period that we can live in the investment property and ... http://www.mrtaxman.com.au/blog/moving-out-of-the-empty-nest-and-into-the-nest-egg Fri, 21 Dec 2012 00:00:00 GMT Reader question: My wife and I are interested in buying an investment property. My wife makes $30k a year and I make $65k year. Is it better to buy the property just on my name for tax purposes or do it together with my wife? http://www.mrtaxman.com.au/blog/what-name-to-put-it-in Thu, 20 Dec 2012 00:00:00 GMT The Australian Taxation Office (ATO) have issued a warning of a new phishing scam: 'Tax Agent Report - Delayed Tax Returns' email which contains malware. Do not open this email as it is not from the ATO. http://www.mrtaxman.com.au/blog/beware-of-phishing-scam-email-from-ato Thu, 20 Dec 2012 00:00:00 GMT Reader question: I am trying to figure out what to do regarding a current investment property, This is my scenario: I and my wife currently live in a rental property for which we pay $325 per week. I have owned another property I bought in June 2009 @ $413,000 I suspect it ... http://www.mrtaxman.com.au/blog/do-i-stay-or-do-i-go Wed, 19 Dec 2012 00:00:00 GMT Reader question: I have recently purchased my first home a few months ago and will be buying my second next month, over the coming years I'm sure there are going to be many more so my first question is how do I find a GREAT property accountant, I want to get it right the first time as I want to stick with one accountant throughout my journey so they have a great understanding of my situation, I live close to Sydney and money is not an issue as I believe the more you spend the more you save when it comes to taxation and accounting advice. http://www.mrtaxman.com.au/blog/finding-a-great-accountant Tue, 18 Dec 2012 00:00:00 GMT Reader question: I'm currently building my 2nd investment property which is due for completion in Feb, both properties were purchased in my name and provide great tax advantages. I plan to buy another investment property in early 2012 and I'm wondering if I should be looking towards asset protection and setting up a trust. If so what type of trust is best for property investment? http://www.mrtaxman.com.au/blog/investment-property-trust Mon, 17 Dec 2012 00:00:00 GMT Reader question: I'm planning to move into the renovate to sell strategy, and was wondering what structure I should use to make the purchases (company, family, individual, etc.). Are there CGT savings that I can make by using a company structure, for example, as opposed to doing the reno and sell as an individual? I'm also aware that reno to sell is higher risk than buy and hold, so is there a structure I can use that provides me with more protection than buying as an individual? http://www.mrtaxman.com.au/blog/renovating-structure Sun, 16 Dec 2012 00:00:00 GMT Reader question: We purchased a house with our son 8 years ago. We rented it out for 4 years and then my son moved in but we (my husband and I) continued to receive rent from some of the bedrooms my son rented out to cover our mortgage. We have now sold our 50% share to our daughter-in-law so now my son and his wife own the house and are living in it. They plan to live there for quite a few years and renovate it. How does Capital Gains affect him once he sells it (maybe in 10 years)? http://www.mrtaxman.com.au/blog/cgt-after-moving-into-investment-property Fri, 14 Dec 2012 00:00:00 GMT Reader question: I am considering purchasing an investment property (residential unit) through my self-managed super fund. I have heard about the tax concessions available through the SMSF, but with superannuation of just over $100K, I'd like to know if the costs involved in setting-up the SMSF (and running it) will be worth going ahead with. http://www.mrtaxman.com.au/blog/do-i-have-enough-for-my-own-smsf Wed, 12 Dec 2012 00:00:00 GMT The Australian Securities & Investment Commission (ASIC) yesterday released guidance to assist auditors of self managed superannuation funds (SMSF) register with ASIC. The guidance has been issued ahead of a new registration scheme for auditors to commence on 31 January 2013 as part of the Federal Government's 'Stronger Super' reforms. http://www.mrtaxman.com.au/blog/smsf-auditor-registration-guidance-issued Tue, 11 Dec 2012 00:00:00 GMT From 2013/14 year, Self Managed Super Funds will have to pay the annual levy earlier and also pay more for the privilege. http://www.mrtaxman.com.au/blog/changes-to-smsf-levy Wed, 05 Dec 2012 00:00:00 GMT On 22 November 2012, Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2012 was passed by the Senate with two Government amendments relating to the commencement of the Act. http://www.mrtaxman.com.au/blog/my-super-legislation-passed Tue, 04 Dec 2012 00:00:00 GMT Newly registered self-managed super funds (SMSFs) must lodge their Self-managed super fund annual return by 28 February 2013. http://www.mrtaxman.com.au/blog/new-smsf-annual-return-due-date-soon Tue, 04 Dec 2012 00:00:00 GMT On 22 November 2012, Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012 and the Superannuation Auditor Registration Imposition Bill 2012 were passed by the Senate without amendment. http://www.mrtaxman.com.au/blog/superannuation-cgt-and-auditor-bills-passed Mon, 03 Dec 2012 00:00:00 GMT ASIC has released a consultation paper Competency standards for auditors of self-managed superannuation funds (CP 192) on the proposed self-managed super fund (SMSF) auditor competency standards. http://www.mrtaxman.com.au/blog/competency-standards-for-smsf-auditors Thu, 29 Nov 2012 00:00:00 GMT The Centre For International Finance & Regulation (CIFR) has just announced the funding for the next round of research projects, including one proposal being conducted by Mr Taxman on the monitoring and performance attributes of superannuation funds in Australia. http://www.mrtaxman.com.au/blog/mr-taxman-wins-research-grant Tue, 27 Nov 2012 00:00:00 GMT Where an employee's duties of employment are inherently itinerant in nature, is their journey between home and a work location in their employer's car a 'business journey' as defined in subsection 136(1) of the Fringe Benefits Tax Assessment Act 1986 (FBTAA) if they transport a family member during part of the journey? We have a look at a recent ATO Interpretative Decision http://www.mrtaxman.com.au/blog/car-travel-involving-a-family-member Mon, 26 Nov 2012 00:00:00 GMT The 2012-13 Mid-Year Economic and Fiscal Outlook (MYEFO) proposes that the government's rebate applied to private health insurance will be calculated using commercial premiums as at 1 April 2013 and then indexed annually by the lesser of CPI or the actual increase in commercial premiums. This will be used to determine an individual's private health insurance rebate. http://www.mrtaxman.com.au/blog/rebatable-amount-of-health-insurance-policy-to-be-capped Fri, 23 Nov 2012 00:00:00 GMT From 1 July 2013, the private health insurance rebate will no longer be paid on any lifetime health cover loading applied to the cost of a private health insurance policy for lifetime health cover. http://www.mrtaxman.com.au/blog/private-health-insurance-rebate-no-longer-paid-on-lifetime-health-cover-loading Thu, 22 Nov 2012 00:00:00 GMT The ATO today warned trustees of self-managed superannuation funds (SMSFs) to be cautious when investing in property. http://www.mrtaxman.com.au/blog/smsf-need-to-be-careful-with-property-investments Wed, 21 Nov 2012 00:00:00 GMT The only constant about tax is change. We all now about the new Carnon tax, but what other changes are coming up? Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2012-13 edition (Wrightbooks, June 2012, AU$24.95), provides us with some of the tax changes coming into play from 1 July. http://www.mrtaxman.com.au/blog/12-tax-changes-taking-effect-from-1-july Sun, 01 Jul 2012 00:00:00 GMT June 30 is rapidly approaching and it is time to do some urgent tax planning. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! 2012-13 edition (Wrightbooks, June 2012, AU$24.95), gives us some excellent tips for you to action and maximise your tax refund this year. http://www.mrtaxman.com.au/blog/mr-taxmans-top-ten-tax-tips-for-2012 Sun, 24 Jun 2012 00:00:00 GMT As announced in the recent Federal Budget, the Education Tax Refund has been abolished and will be replaced with the Schoolkids Bonus from January 2013. Instead of claiming the refund via the year-end tax return, it is estimated that over 1.2 million Australian families will receive the 2011/12 entitlement in full - $818 for each secondary school student and $409 for each primary school student. The payments will be made from 20 to 29 June 2012. http://www.mrtaxman.com.au/blog/9-ways-to-spend-the-education-tax-refund Sat, 23 Jun 2012 00:00:00 GMT If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows http://www.mrtaxman.com.au/blog/2012-13-fee-schedule Tue, 01 May 2012 00:00:00 GMT What is the general translation rule for foreign currency trading? http://www.mrtaxman.com.au/blog/general-translation-rule-for-foreign-currency-trading Mon, 12 Dec 2011 00:00:00 GMT What sections of the ATO tax acts is foreign currency trading? That is cash base online trading with no physical goods exchange? http://www.mrtaxman.com.au/blog/foreign-currency-trading Sat, 10 Dec 2011 00:00:00 GMT I have recently given up working so Trading is my only form of income. Is it possible to offset trading losses over the past 8 years to any future profits before paying tax? Also would it be advisable to set up a Hybrid Trust to distribute funds to beneficiaries? http://www.mrtaxman.com.au/blog/offsetting-trading-losses Fri, 09 Dec 2011 00:00:00 GMT I am about to lodge my income tax return but heard that I may not be entitled to claim the imputation credits on my dividends as I bought and sold the shares during the 7 days around the ex-dividend date. Could you please clarify if that is the case? http://www.mrtaxman.com.au/blog/claiming-dividend-franking-credits-for-tax Wed, 07 Dec 2011 00:00:00 GMT I am retired and lost $10,000 in trading last year. Can I claim this as a tax deduction? http://www.mrtaxman.com.au/blog/claiming-share-losses Mon, 05 Dec 2011 00:00:00 GMT I am thinking about setting up a Self Managed Super Fund. If I do, can I use my super monies to trade? http://www.mrtaxman.com.au/blog/trading-via-self-managed-super-fund-smsf Sat, 03 Dec 2011 00:00:00 GMT I am now retired and have started trading FX from my home in Brisbane (Australia), I also own a small parcel of blue chip shares - would I be classified as a trader or an investor? http://www.mrtaxman.com.au/blog/retired-and-now-buying-shares--am-i-an-investor-or-trader Thu, 01 Dec 2011 00:00:00 GMT I work full time and supplement my income trading stock CFDs. So far in this financial year to date I have made around $20,000 how do I deal with this on my tax return? http://www.mrtaxman.com.au/blog/tax-consequences-of-trading-cfds Tue, 29 Nov 2011 00:00:00 GMT I am an Australian but trade US futures, do I need to pay tax in the States and Australia, or neither? http://www.mrtaxman.com.au/blog/trading-us-futures-in-australia Mon, 28 Nov 2011 00:00:00 GMT Do you detest paying tax, but like receiving a tax refund cheque in the mail? Are you getting all you're entitled to? You could be letting the government keep hundreds, even thousands, of your hard-earned dollars each year - and you wouldn't even know about it! http://www.mrtaxman.com.au/blog/book-launch--101-ways-to-save-money-on-your-tax Mon, 28 Nov 2011 00:00:00 GMT The $1 million spent on this week's Tax Forum would have been better put to rewarding those who dob in a tax cheat according to Mr Taxman. http://www.mrtaxman.com.au/blog/tax-forum-money-should-have-gone-to-dobbers Wed, 05 Oct 2011 00:00:00 GMT With the impending 31 October deadline just weeks away, over five million individuals are yet to lodge their tax return according to the latest Australian Taxation Office (ATO) progress report. http://www.mrtaxman.com.au/blog/5-million-yet-to-lodge-2011-income-tax-return Sat, 01 Oct 2011 00:00:00 GMT Mr Taxman has arranged with executing and clearing company Halifax Investment Services Ltd the opportunity for you to trade in stocks, options, foreign exchange, Contracts for Difference, as well as Futures in Australian, American, European and Asian markets. Halifax have a 24 hour dealing and adminstrative support desk. http://www.mrtaxman.com.au/blog/want-to-trade-shares-options-futures-cfds-or-forex-yourself Fri, 16 Sep 2011 00:00:00 GMT According to the latest ATO Progress Report 10 there have been 4.37 million lucky taxpayers since 1 July 2011 who have received refunds totalling $10.24 billion. That is an average tax refund of $2,367!! For those that have been fortunate enough to receive it, Mr Taxman gives us ten smart places to use your refund. http://www.mrtaxman.com.au/blog/received-your-tax-refund-yet Fri, 09 Sep 2011 00:00:00 GMT Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally!, looks at how much petrol and electricity has risen in the past 13 years compared to what you can claim in your tax return for work-related car and home office usage. http://www.mrtaxman.com.au/blog/can-someone-tell-the-ato-what-the-price-of-petrol-and-electricity-is Wed, 17 Aug 2011 00:00:00 GMT My wife and I purchased our former PPOR (in VIC) three years ago for $326,000 plus stamp duty and fees. We borrowed $250,000 to do this and used savings for the balance. On the loan we now owe $204,000. We have paid $27,700 in extra repayments (not in offset). After renos and market growth the house is now worth ... http://www.mrtaxman.com.au/blog/dont-trust-everything Mon, 18 Jul 2011 00:00:00 GMT What is the least amount of superannuation you can pay? Can you email payroll and decide to not pay super anymore? http://www.mrtaxman.com.au/blog/is-super-compulsory Sun, 17 Jul 2011 00:00:00 GMT Following the carbon tax announcement today, here are the proposed tax cuts for individuals effective 1 July 2012 ... but are they really that sweet? http://www.mrtaxman.com.au/blog/proposed-new-individual-tax-rates Sun, 10 Jul 2011 00:00:00 GMT The new financial year has arrived which comes with it the annual obligation to submit our income tax return by 31 October. For many of us, the process is as painful as having your teeth pulled but the rewards can be great. Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! shares with us eight common traps to avoid when doing your tax this year. http://www.mrtaxman.com.au/blog/8-common-tax-return-mistakes Mon, 04 Jul 2011 00:00:00 GMT The Australian Taxation Office (ATO) today released their Compliance Program 2011-12, a publication which outlines key focus areas attracting ATO attention for the coming year. Here are a few of the more interesting statistics coming out of that report together with comments from Mr Taxman himself, Adrian Raftery, author of 101 Ways to Save Money on Your Tax - Legally! http://www.mrtaxman.com.au/blog/ato-compliance-spotlight-areas-2011-12 Thu, 30 Jun 2011 00:00:00 GMT The only constant about tax is change. Here are some of the tax changes coming into play from 1 July http://www.mrtaxman.com.au/blog/6-tax-changes-taking-effect-from-1-july Tue, 28 Jun 2011 00:00:00 GMT There are two ways to administer new regulations ... the short way ... and the long way. To me this seems like the long way to go around things. From 1 July 2011, employers will be responsible for providing Parental Leave Pay to ... http://www.mrtaxman.com.au/blog/parental-leave-pay Fri, 17 Jun 2011 00:00:00 GMT The end of financial year is an anxious time for Australia's small business owners bewildered by the complexity of tax reporting and stressed by the amount of paperwork involved, according to the latest American Express Tax Time Survey that I was involved in. http://www.mrtaxman.com.au/blog/latest-research--tax-time-takes-its-toll-on-small-business-owners Thu, 16 Jun 2011 00:00:00 GMT So just like Santa, the Taxman has made his list for 2011. This year the ATO will be paying close attention to claims from people employed in the following occupations ... http://www.mrtaxman.com.au/blog/taxmans-hit-list-for-2011 Thu, 16 Jun 2011 00:00:00 GMT If you would like one of Australia's leading tax experts and author of top-selling 101 Ways to Save Money on Your Tax - Legally!, then please be advised that my schedule of fees is as follows: http://www.mrtaxman.com.au/blog/2011-12-fee-schedule Wed, 15 Jun 2011 00:00:00 GMT Tax Commissioner Michael D'Ascenzo this week warned directors of private companies about claiming deductions for directors fees where amounts may remain unpaid by the end of the following income year. The warning also serves as a timely reminder for any company director loan account issues that are outstanding prior to 30 June. http://www.mrtaxman.com.au/blog/time-of-year-to-sort-out-the-company-loan-account-and-directors-fees Thu, 09 Jun 2011 00:00:00 GMT If you run a food service business such as a bakery, butcher, cafe, restaurant or catering and you take goods to feed your family for private use, the ATO requires you to deduct the private usage from your cost of goods sold. http://www.mrtaxman.com.au/blog/value-of-goods-taken-from-stock-for-private-use-for-2010-11 Fri, 03 Jun 2011 00:00:00 GMT Last week the Tax Commissioner Michael D'Ascenzo launched '100 People,' an innovative online presentation that represents all the individual taxpayers in Australia as though they were one hundred people. http://www.mrtaxman.com.au/blog/100-people--some-interesting-stats-from-the-ato Thu, 02 Jun 2011 00:00:00 GMT The fringe benefits tax car parking threshold for the FBT year commencing 1 April 2011 is $7.71. http://www.mrtaxman.com.au/blog/fbt-car-parking-threshold-for-2011-2012-fbt-year Thu, 02 Jun 2011 00:00:00 GMT Since The Higher Education Contribution Scheme (HECS) was introduced for tertiary education in Australia, it has charged an "interest rate" on 1 June each year. http://www.mrtaxman.com.au/blog/two-important-dates-for-those-with-hecs-help-debts Mon, 30 May 2011 00:00:00 GMT OK I know that this is not tax advice today, but sometimes solving computer problems is worth more than an extra $1,000 in your tax refund cheque. Well maybe not that much but you know what I mean. http://www.mrtaxman.com.au/blog/plugged-in-not-charging-solution-for-windows-7-installations Fri, 27 May 2011 00:00:00 GMT A few months ago I took up an offer for an Accounting Doctoral Scholarship with the University of Technology, Sydney (UTS). After 21 years in professional practice, as a Fellow of the Institute of Chartered Accountants and Taxation Institute, coupled with a number of national awards, it was fair to say that I thought I knew it all in accounting ... but did I really? http://www.mrtaxman.com.au/blog/monday-prayer-sessions Mon, 23 May 2011 00:00:00 GMT Had a very interesting question come up in last week's lecture on equity accounting about companies exerting strong significant influence but not having control of another company. Strong significant influence could occur when say Company A owns 49.9% but obviously don't have control of the voting power of Company B. http://www.mrtaxman.com.au/blog/problems-with-companies-exerting-strong-significant-influence Mon, 16 May 2011 00:00:00 GMT Here are the acceptable amounts for the reasonable food component in the 2011-12 financial year in respect of Living Away From Home Allowances http://www.mrtaxman.com.au/blog/reasonable-food-component-for-2011-12 Thu, 12 May 2011 00:00:00 GMT In his fourth attempt, Wayne Swan delivered another tame, yet solid, Federal Budget for the nation this week. The $22.6 billion deficit is scary and is actually $12.3 billion more than what was expected due to lower tax revenue. But the Treasurer is predicting a return to surplus in two years' time. Good news. http://www.mrtaxman.com.au/blog/federal-budget-2011--what-it-means-to-you Wed, 11 May 2011 00:00:00 GMT The term 'super co-contribution' should really be labelled as 'free money'! But it is surprising how few people actually take advantage of this great benefit. http://www.mrtaxman.com.au/blog/super-co-contribution Thu, 05 May 2011 00:00:00 GMT If you travel to inspect or maintain your property or collect the rent, you may be able to claim the costs of travelling as a deduction. http://www.mrtaxman.com.au/blog/travel-to-see-your-investment-property Thu, 05 May 2011 00:00:00 GMT Over the last five years, data matching has been a powerful tax compliance tool for the ATO. It has acted as a huge deterrent for taxpayers thinking about not disclosing all of their income. http://www.mrtaxman.com.au/blog/ato-data-matching Thu, 05 May 2011 00:00:00 GMT Every year, based on an analysis of previous returns, the ATO issues a 'hit list' of occupations that will be targeted for close attention regarding work-related expenses. http://www.mrtaxman.com.au/blog/ato-hit-lists Thu, 05 May 2011 00:00:00 GMT A common, yet risky, investment strategy used by share investors has been to borrow money, usually via a margin loan, to buy shares. http://www.mrtaxman.com.au/blog/borrowing-to-buy-shares Thu, 05 May 2011 00:00:00 GMT If you are planning to make a fortune, perhaps you should consider your business structure before you give away half of it in taxes. http://www.mrtaxman.com.au/blog/choosing-the-right-business-structure Thu, 05 May 2011 00:00:00 GMT Raising children is not a cheap exercise, with education up there as one of the biggest expenses for most households. http://www.mrtaxman.com.au/blog/education-tax-refund Thu, 05 May 2011 00:00:00 GMT Accountants are frequently asked two questions by couples just about to get married: 'Are there are any tax implications once we tie the knot?' and 'Do we need to start doing joint tax returns?' http://www.mrtaxman.com.au/blog/marriage Thu, 05 May 2011 00:00:00 GMT The Tax Office has some useful tips and information to help businesses start the new year on the right foot. There are some important things all small businesses need to remember, including good record keeping practices, meeting GST obligations, reporting, paying tax and superannuation. http://www.mrtaxman.com.au/blog/tax-tips-for-small-business Wed, 20 Apr 2011 00:00:00 GMT The fringe benefits tax (FBT) car calculator helps employers calculate the taxable value of a car fringe benefit using either the statutory formula method or the operating cost method. http://www.mrtaxman.com.au/blog/fringe-benefits-tax--car-calculator Mon, 18 Apr 2011 00:00:00 GMT Calculators to provide you with an estimate of your compulsory HELP repayment and the bonus you will get when you make your voluntary repayment towards your HELP debt. http://www.mrtaxman.com.au/blog/help-repayment-calculator Tue, 12 Apr 2011 00:00:00 GMT The aim of the employment termination payment calculator is to assist employers with calculations required to make employment termination payments. http://www.mrtaxman.com.au/blog/employment-termination-payment-calculator Tue, 12 Apr 2011 00:00:00 GMT You can use this calculator to work out your eligibility for the zone or overseas forces tax offset and calculate the tax offset that you can claim http://www.mrtaxman.com.au/blog/zone-or-overseas-forces-tax-offset-calculator Tue, 12 Apr 2011 00:00:00 GMT If you are a trustee of a Self Managing Superannuation Fund (SMSF) you have a range of responsibilities that you must adhere to in the day-to-day operation of your fund. Here is a checklist outlined in the Government's Role and Responsibilities of Trustees paper which details what you must be aware of as a trustee of a SMSF. http://www.mrtaxman.com.au/blog/smsf-trustee-compliance-checks Tue, 05 Apr 2011 00:00:00 GMT Here is a low-value pool assets worksheet that you can use to work out your deductions for decline in value of depreciating assets. http://www.mrtaxman.com.au/blog/low-value-pool-worksheet Wed, 30 Mar 2011 00:00:00 GMT Here is a depreciating assets worksheet that you can use to work out your deductions for decline in value of depreciating assets. http://www.mrtaxman.com.au/blog/depreciating-assets-worksheet Wed, 30 Mar 2011 00:00:00 GMT This calculator will give you an estimate of the deduction you can claim for work related self-education expenses on your tax return. http://www.mrtaxman.com.au/blog/self-education-expenses-calculator Mon, 28 Mar 2011 00:00:00 GMT The "Is your scholarship taxable? calculator" will help you work out whether or not your scholarship is taxable http://www.mrtaxman.com.au/blog/is-your-scholarship-taxable-calculator Tue, 22 Mar 2011 00:00:00 GMT Use this calculator to determine your tax offset on net medical expenses over the threshold amount http://www.mrtaxman.com.au/blog/net-medical-expenses-calculator Wed, 16 Mar 2011 00:00:00 GMT Use this to see if you can claim a tax deduction for home office expenses as part of your business or employment. http://www.mrtaxman.com.au/blog/home-office-expenses-calculator Wed, 16 Mar 2011 00:00:00 GMT Advice about business records you need to keep, and how well you keep them. http://www.mrtaxman.com.au/blog/record-keeping-evaluation-tool Tue, 15 Mar 2011 00:00:00 GMT If you are an employer or another withholding payer, the TWC helps you work out the tax you need to withhold from payments you make to employees and other workers. http://www.mrtaxman.com.au/blog/tax-withheld-calculator Tue, 08 Mar 2011 00:00:00 GMT 6 tips to help manage your business, including clean up days, training and better utilising your staff's expertise http://www.mrtaxman.com.au/blog/better-business-tips Tue, 08 Mar 2011 00:00:00 GMT To work out whether you are eligible for the low-income tax offset. It also calculates the amount of your offset if your taxable income is less than the low-income tax offset threshold http://www.mrtaxman.com.au/blog/low-income-tax-offset-calculator Mon, 07 Mar 2011 00:00:00 GMT To work out if you are an Australian resident. http://www.mrtaxman.com.au/blog/determination-of-residency Sun, 06 Mar 2011 00:00:00 GMT Claiming car expenses - what trips are work related? http://www.mrtaxman.com.au/blog/claiming-car-expenses Thu, 03 Mar 2011 00:00:00 GMT Lists commonwealth tax and superannuation obligations when employing workers. It includes information on when a new worker starts, during employment, and when a worker leaves. http://www.mrtaxman.com.au/blog/employer-obligations-checklist Wed, 02 Mar 2011 00:00:00 GMT Owning your own home is the Great Aussie dream but two-fifths of first home owners experience some sort mortgage stress. http://www.mrtaxman.com.au/blog/buying-a-house Tue, 01 Mar 2011 00:00:00 GMT The employee superannuation guarantee (SG) calculator tool is designed to help you determine whether you are eligible for SG contributions, and whether your employer is paying the correct amount. http://www.mrtaxman.com.au/blog/employee-superannuation-guarantee-sg-calculator Tue, 01 Mar 2011 00:00:00 GMT ou can use this calculator to estimate your super co-contribution entitlement and eligibility. http://www.mrtaxman.com.au/blog/super-co-contribution-calculator Fri, 25 Feb 2011 00:00:00 GMT Use this tool if you are late in paying your employees' superannuation contributions to a superannuation fund. It will enable you to calculate your SGC liability and prepare the SGC statement to be lodged with the ATO. http://www.mrtaxman.com.au/blog/superannuation-guarantee-charge-statement-and-calculator-tool Wed, 23 Feb 2011 00:00:00 GMT Use this calculator to determine a possible work related clothing deduction entitlement. http://www.mrtaxman.com.au/blog/work-related-uniform-expenses-calculator Thu, 17 Feb 2011 00:00:00 GMT Determine your eligibility and calculate the amount of senior Australians tax offset and pensioner tax offset you can claim http://www.mrtaxman.com.au/blog/senior-australians-and-pensioner-tax-offset-calculator Wed, 16 Feb 2011 00:00:00 GMT Business can benefit from employees working remotely or from home however to ensure such arrangements are effective some safe guards should be put in place first. http://www.mrtaxman.com.au/blog/6-tips-for-employees-working-offsite Wed, 16 Feb 2011 00:00:00 GMT Your business' balance sheet and income statement are essential, but they are only the starting point for successful financial management. Using ratio analysis on your financial statements you can analyse the success, failure, and progress of your business. http://www.mrtaxman.com.au/blog/6-ratios-to-manage-your-business Tue, 15 Feb 2011 00:00:00 GMT It may be cheaper than a mortgage repayment but rent money is dead money http://www.mrtaxman.com.au/blog/renting-a-property Tue, 15 Feb 2011 00:00:00 GMT Here is a rental property worksheet to assist you with the expenses that you need to include in your tax return http://www.mrtaxman.com.au/blog/rental-property-worksheet Wed, 09 Feb 2011 00:00:00 GMT A tool to help small businesses improve their business tax practices. http://www.mrtaxman.com.au/blog/is-your-business-tax-ready Tue, 08 Feb 2011 00:00:00 GMT Money plays an important part in relationships. Here are a few tips when talking finance with your Valentine. http://www.mrtaxman.com.au/blog/valentines-day-special--golden-money-rules-for-couples Tue, 08 Feb 2011 00:00:00 GMT 5-steps including saving, investing and planning to help you retire early http://www.mrtaxman.com.au/blog/5-steps-to-an-early-retirement Mon, 07 Feb 2011 00:00:00 GMT A typical equipment lease can run anywhere from one to five years. Most equipment necessary in commercial businesses today, including technical equipment, can be leased. http://www.mrtaxman.com.au/blog/pros-and-cons-of-lease-finance Mon, 07 Feb 2011 00:00:00 GMT You can use this calculator to estimate the amount of offset that you can claim for a dependent parent, spouse's parent or invalid relative for 2007-08, 2008-09 and 2009-10 financial years. http://www.mrtaxman.com.au/blog/parent-spouses-parent-or-invalid-relative-tax-offset-calculator Tue, 01 Feb 2011 00:00:00 GMT The "reverse mortgage" product was devised by banks for those over 60 who could borrow up to 40% against their home but didn't have to make any repayments. http://www.mrtaxman.com.au/blog/reverse-mortgages Tue, 01 Feb 2011 00:00:00 GMT With over 20,000 different banking products these days it is quite difficult to know the good ones from the average. http://www.mrtaxman.com.au/blog/the-best-of Tue, 25 Jan 2011 00:00:00 GMT Identification of a number of areas to help manage your business. http://www.mrtaxman.com.au/blog/managing-and-growing-a-business Thu, 20 Jan 2011 00:00:00 GMT Money is an important topic for everyone. If you're young and just starting out in the world of work, then here are some of the basics. http://www.mrtaxman.com.au/blog/entering-the-workforce Tue, 18 Jan 2011 00:00:00 GMT We heard before Christmas that voluntary tax returns won't be far away as it is one of the key recommendations of the much anticipated Henry Tax Review. http://www.mrtaxman.com.au/blog/is-the-taxman-becoming-father-christmas-dont-bet-on-it Tue, 18 Jan 2011 00:00:00 GMT Start of the school year means costly text books, stationery, uniforms, school fees and a whole lot more. Here are some ideas on how to make it easier for your family. http://www.mrtaxman.com.au/blog/back-to-school-savings-ideas Tue, 11 Jan 2011 00:00:00 GMT When new tax cuts come into force here are 6 tips for employees when they get their next pay packet. http://www.mrtaxman.com.au/blog/6-ways-to-use-your-tax-cut Mon, 10 Jan 2011 00:00:00 GMT 2010 was tough financially but it is now behind us. Here are a few ideas for creating your own list of New Year's resolutions to help put your finances in better shape in 2011. http://www.mrtaxman.com.au/blog/new-year-financial-resolutions Tue, 04 Jan 2011 00:00:00 GMT This tool will help you work out if you are eligible to claim a deduction for work related self-education expenses on your tax return http://www.mrtaxman.com.au/blog/self-education-eligibility-calculator Mon, 03 Jan 2011 00:00:00 GMT Should we get all excited with the post-xmas sales or should we just stay well clear of them? http://www.mrtaxman.com.au/blog/xmas-sales Tue, 28 Dec 2010 00:00:00 GMT Found it tough financially this Christmas? Here are a few tips to make next year easier for you. http://www.mrtaxman.com.au/blog/how-to-make-xmas-2011-easier-financially Tue, 21 Dec 2010 00:00:00 GMT We all enjoy the joy of giving at Christmas time but seem to pay for it in January once the credit card bill comes in. Here a few timely tips to save money this festive season. http://www.mrtaxman.com.au/blog/christmas-saving-ideas Tue, 30 Nov 2010 00:00:00 GMT From 1 January 2011, eligible working parents of children born or adopted after that date may get the government-funded Paid Parental Leave Pay to help them care for a new baby. The pay is for up to 18 weeks at the minimum wage (currently $570). http://www.mrtaxman.com.au/blog/paid-parental-leave Tue, 23 Nov 2010 00:00:00 GMT Many people decide to start their own business because they think it is a great alternative to having to work for someone else. Some even think it is the next step in the evolution for one to go from rags to riches. However, some people think that engaging in such is a piece of pie. There are many myths that exist, deceiving people into starting their business with unreasonable expectations. http://www.mrtaxman.com.au/blog/12-myths-about-starting-your-own-small-business Wed, 17 Nov 2010 00:00:00 GMT Where self education expenses are not deductable http://www.mrtaxman.com.au/blog/where-self-education-expenses-are-not-deductable Tue, 16 Nov 2010 00:00:00 GMT There is a whole raft of government benefits that families can, and should, access. Here is a list that you could be claiming. http://www.mrtaxman.com.au/blog/are-you-receiving-all-of-your-government-entitlements Tue, 16 Nov 2010 00:00:00 GMT The SFSS repayment calculator will help you determine the amount of your compulsory SFSS repayment for the 2007-08, 2008-09 and 2009-10 financial years. http://www.mrtaxman.com.au/blog/sfss-repayment-calculator Tue, 09 Nov 2010 00:00:00 GMT It's a simple equation. Improving staff productivity is likely to boost the profitability of your business. So, what straightforward steps can you take to get more out of your people? http://www.mrtaxman.com.au/blog/10-ways-to-make-your-employees-more-productive Tue, 09 Nov 2010 00:00:00 GMT Use this tool to calculate SG contributions for your eligible employees for a current quarter, including the period within 28 days after the end of that quarter. http://www.mrtaxman.com.au/blog/superannuation-guarantee-sg-contribution-calculator Wed, 03 Nov 2010 00:00:00 GMT Are they worth the paper they are printed on? Are they are waste of time? http://www.mrtaxman.com.au/blog/pre-nup-agreements---til-divorce-do-us-part Tue, 02 Nov 2010 00:00:00 GMT Do you want to enjoy a better lifestyle in retirement? Here are a few tips on making that dream possible. http://www.mrtaxman.com.au/blog/how-to-make-your-money-work-smarter Tue, 26 Oct 2010 00:00:00 GMT Try the quiz and see how you compare to the results of a recent survey conducted by the Investment and Financial Services Association (IFSA). http://www.mrtaxman.com.au/blog/a-quiz-for-small-business-owners Wed, 20 Oct 2010 00:00:00 GMT 6 tips to help you avoid debt http://www.mrtaxman.com.au/blog/golden-rules-to-avoid-debt Wed, 20 Oct 2010 00:00:00 GMT It is a rarely known fact but most banks and credit unions offer a "mortgage holiday" in most of their home loan products. Basically it where you can put your loan repayments on hold for a period of time, sometimes up to one year. http://www.mrtaxman.com.au/blog/how-to-apply-for-a-mortgage-holiday Tue, 19 Oct 2010 00:00:00 GMT In this world of technology, virtually everything is at your fingertips. Use it effectively and it's guaranteed that you will save time and money. Here are a few different ideas of how technology can help you. http://www.mrtaxman.com.au/blog/using-technology-to-save-you-money Tue, 12 Oct 2010 00:00:00 GMT Use this calculator to help you calculate how much education tax refund you can claim. http://www.mrtaxman.com.au/blog/education-tax-refund-calculator Tue, 05 Oct 2010 00:00:00 GMT The GST has now been operating for a number of years yet despite a massive education campaign by the Australian Taxation Office (ATO) there are still many errors and omissions that are being made by small businesses on their GST returns. Most of these errors relate to the over-claiming of GST credits. http://www.mrtaxman.com.au/blog/13-common-gst-mistakes Tue, 05 Oct 2010 00:00:00 GMT Some businesses are better suited to home locations than others. http://www.mrtaxman.com.au/blog/operating-a-business-from-home Thu, 30 Sep 2010 00:00:00 GMT Generally the first question most retirees ask when discussing their retirement is: "How long will my retirement savings last?" People naturally want to be confident that their income streams and investment portfolios will provide adequate income for their life expectancy. http://www.mrtaxman.com.au/blog/how-long-will-my-retirement-savings-last Tue, 14 Sep 2010 00:00:00 GMT Self managed superannuation funds, or DIY funds as they are also known, have for some time now been the growth sector of the superannuation market. Nearly 290,000 funds, over 530,000 members and close to $140 billion in assets confirm the continuing popularity of self managed super. http://www.mrtaxman.com.au/blog/10-good-reasons-to-start-a-self-managed-super-fund Tue, 14 Sep 2010 00:00:00 GMT Calculate different payment scenarios based on your circumstances and use these as a guide to propose a payment arrangement that enables you to address your tax obligations. http://www.mrtaxman.com.au/blog/payment-arrangement-calculator Tue, 14 Sep 2010 00:00:00 GMT A Self Managed Superannuation Fund is a vehicle designed to provide retirement benefits to Members of that Fund. It may also be an efficient tax structure that offers significant benefits to investors. http://www.mrtaxman.com.au/blog/intro-to-self-managed-super-funds Wed, 25 Aug 2010 00:00:00 GMT Fuel tax credits provide businesses with a credit for fuel tax (excise duty) that is included in the price of fuel. Fuel tax credits commenced on 1 July 2006. http://www.mrtaxman.com.au/blog/how-to-cut-your-business-fuel-costs Tue, 10 Aug 2010 00:00:00 GMT This decision tool is designed to help payers determine whether an individual worker is engaged as an employee or independent contractor. It will give a decision based on answers to some simple questions. http://www.mrtaxman.com.au/blog/employee-contractor-decision-tool Mon, 09 Aug 2010 00:00:00 GMT Business owners, builders and property buyers are the big winners from the NSW budget released earlier this month. There will also be a smile on a few pub owners' faces as lower gaming machine tax rates will apply to hotels from 1 July. http://www.mrtaxman.com.au/blog/businesses-and-property-buyers-are-nsw-budget-winners Sun, 20 Jun 2010 00:00:00 GMT Only a handful of goodies were expected after the handouts we got in last year's stimulus packages. But what would an election year be without a few incentives? Here is what you can expect. http://www.mrtaxman.com.au/blog/federal-budget--what-it-means-to-you Tue, 11 May 2010 00:00:00 GMT You may not have much of it yet but money and its management will be an important part of your adult life. Money doesn't grow on trees and you need to be smart with it. Here are a few money basics to help you http://www.mrtaxman.com.au/blog/money-tips-for-school-leavers Tue, 04 May 2010 00:00:00 GMT Business owners always ask me for a tip or two around this time every year. Here are a few great strategies for your business to try to implement prior to 30 June 2010 to legitimately reduce tax. http://www.mrtaxman.com.au/blog/mr-taxmans-top-ten-business-tax-tips-for-2010 Tue, 04 May 2010 00:00:00 GMT It is that time of the year when we all need to do some tax planning. June 30 is rapidly approaching so here are some excellent tips for you to get your house in order and increase your tax refund. http://www.mrtaxman.com.au/blog/mr-taxmans-top-ten-individual-tax-tips-for-2010 Tue, 04 May 2010 00:00:00 GMT Borrowing money from the bank used to be easy, but since the GFS it became hard. Here are a few tips to make it easy and painless for you. http://www.mrtaxman.com.au/blog/the-secret-to-getting-your-loan-approved Mon, 19 Apr 2010 00:00:00 GMT You kissed your husband goodbye and told him to have a good time and enjoy himself with the boys. But he had an accident and never made it home. Never. http://www.mrtaxman.com.au/blog/a-ticking-time-bomb Tue, 26 Jan 2010 00:00:00 GMT The last few years have been horror ones financially for alot of people. But 2010 is starting to look pretty good. Here are a few ideas from Mr Taxman Adrian Raftery for creating your own list of New Year's resolutions to help put your finances in better shape in 2010. http://www.mrtaxman.com.au/blog/looking-for-some-new-years-resolutions Wed, 20 Jan 2010 00:00:00 GMT Debate will no doubt rage for years to come whether the "Kev 07" stimulus package worked for Australia. I must admit that I queried the benefit of it when it was announced on 3 February. I struggle to find the benefit of giving someone $900 if they are at risk of losing their $50,000 job. http://www.mrtaxman.com.au/blog/has-the-stimulus-payment-worked Mon, 29 Jun 2009 00:00:00 GMT It may seem strange that an accountant would say that money is not important. But I was lucky in that I was never brought up to be materialistic. http://www.mrtaxman.com.au/blog/money-is-not-important-and-most-things-are-not-urgent Sat, 13 Jun 2009 00:00:00 GMT Here are multi-billion companies, with all the latest technology, smartest people, etc in the world. Yet when it comes to approving a piddly little loan, of say $10,000, for a good customer (with a great credit history and track record) that they can't make a decision themselves UNLESS they have a letter from the customer's accountant saying what the purpose of the loan is. http://www.mrtaxman.com.au/blog/those-annoying-banks-and-their-meaningless-letters Fri, 05 Jun 2009 00:00:00 GMT Times are tough so every dollar saved counts. Last week I provided the first ten of my top twenty tax tips for this financial year. This week I now provide you with my Top Ten Tax Tips for 2009. Remember that tax planning should be 365 days per year not just one month. These strategies are just as useful on 1 July. http://www.mrtaxman.com.au/blog/mr-taxmans-top-twenty-tax-tips-for-2009 Mon, 25 May 2009 00:00:00 GMT