Every so often I get asked about discretionary trusts – should I have one, does it mean I pay less tax, are they only for rich people? Continue reading “To Trust or not!”
Sorting through the accounting jargon
Want to sort out your Assets from your Accruals? Here are some commonly used accounting terms so you can talk like an accountant! Continue reading “Sorting through the accounting jargon”
Australian tax resident? It’s different to being a citizen…..
London’s calling and you’re about to head overseas on an adventure. You plan on being away indefinitely and hope to land the dream job in the UK. Sounds like a great plan, but what about the tax consequences? Will you need to lodge a tax return? What about the salary you earn while you’re away – it won’t have to be declared here. Or will it? The answer depends on whether you are considered an Australian resident for tax purposes. Continue reading “Australian tax resident? It’s different to being a citizen…..”
How to boost your superannuation balance
We all know that our employer must contribute 9.5% of our wages into superannuation on our behalf. But I often get asked whether it will be enough to comfortably retire. In this post, I’ll go through the ways you can boost your superannuation balance. Continue reading “How to boost your superannuation balance”
How to navigate the new Child Care Subsidy
Last week I was asked about the new child care subsidy which came into effect from July 2018. My kids are terrible teens but if you’re wrangling the terrible twos along with work and all the bureaucracy of a new system, here are the key things you need to know. Continue reading “How to navigate the new Child Care Subsidy”
PAYG income tax instalments… Frequently Asked Questions
At this time of year, I often get asked about PAYG income tax instalments – mostly because you’ve just lodged your return and the Tax Office have sent you a letter. So if you’re in that position, here are the answers to some of the frequently asked questions. Continue reading “PAYG income tax instalments… Frequently Asked Questions”
Education expenses – what’s tax deductible?
Are you studying for a qualification that is relevant to your current work? You could be eligible to claim your self education expenses in your tax return. Continue reading “Education expenses – what’s tax deductible?”
The Do’s and Don’ts of claiming travel
Claiming travel in your tax return is one of the (many!) confusing parts of preparing your tax return. But you shouldn’t let that stop you from claiming what you are entitled to. So, let’s keep you off the Tax Office’s radar but maximise your deductions. Continue reading “The Do’s and Don’ts of claiming travel”
Has your hobby become a business?
Many of us are a little compulsive* about our creative pursuits and sometimes we make the decision to sell items we create. So, does this mean we can claim all the costs associated with our obsession pastime? Continue reading “Has your hobby become a business?”