Serving Sydney’s Inner West
The Happy EOFYS adds have started on tv and in the newspapers, so you know we must be only a few weeks until the end of the financial year. But, you’re an individual Pay As You Go salary earner, so nothing to see here – right? Wrong! While it’s true that most of these adds are targeted to the business owner, as a wage earner, there may still a few things you can do before 30 June to reduce your tax. Continue reading “How to save tax in 2019”
I was completing a tax return last week for a client. They asked a question about what extra tax they would need to pay if they decided to get rid of their private health insurance.
Now first up, let me say that I’m not going to give anyone advice about whether their policy is the right one for them or even whether they get value for money from their policy. But I did attempt to explain the tax implication of not having private health insurance.
It made me realise how complicated the Medicare levy is and how ridiculously difficult it is to give a straight answer to a really simple question. Continue reading “Medicare Levy, surcharge and private health insurance”