Tax tips for a bigger refund
TAX time is here again and there are plenty of ways to boost your annual refund from the taxman and get what you deserve.
Tax
It’s certain: You will pay more tax
IT COULD be the GST, it could be something else. Whatever the means, our states are crying out for more money — and you’re going to have to pay.
GST talk starts conspiracy theories
A PROPOSAL to lift the rate of the GST has started a round of hyperventilating about ballooning taxes. But what did the PM really say about the idea?
Workers fail to claim phone expenses
THE taxman is using new technology to target a wider range of workers — but many Australians are failing to dial up the refund they deserve.
Call to stamp out unfair house hit
THERE is a call today to eradicate a tax that hits first home buyers hard, and instead pass the costs onto all property owners.
Short cuts to a quick return
THE start of the new financial year means it’s time for you to get your money affairs in order … but experts say the process need not be taxing.
Don’t fall for this tax scam
THE Australian Taxation Office is warning people to beware of phone scammers threatening jail or arrest if you don’t pay a tax bill.
‘Unacceptable’: ATO’s infuriating tax-time fail
YOU had one job, ATO. People are trying to lodge their tax returns, and they’re running into an infuriating problem.
How to get the most out of your tax return
IT’S the end of the financial year today so you know what that means — tax time. Here, the experts reveal how to get the most out of the arduous task.
How you can reduce your tax bill
THERE’S less than 24 hours to go until the 2015/16 financial year but experts say there’s still some last-minute actions people can take to help reduce their tax bill.
Little known deductions you can claim on tax
THEY’RE the little deductions that add up, so you need to stay on top of them. Make sure you or your accountant don’t forget to claim these things.
Mistakes that run afoul of taxman
THERE are tricks to save you tax, and then there are myths that come back to bite you. Don’t get caught by these old wives’ tales.
The reason you’re losing hundreds
AUSTRALIANS are cheating themselves out of hundreds of dollars each year because they don’t know about everything they can deduct on their taxes. Do you?
Get ready to pay more for petrol
THE cost of running the family car is now certain to keep rising after Labor today said it would back legislation to make petrol tax increases law.
Save cash by doing your own tax return
DOING your own tax return is easier than you think and you often get your refund faster. Just don’t forget to claim these five things.
What you’re not being told about shopping tax
THERE are claims that a new tax on online purchases is set to push up prices by more than 250 per cent. But will it really?
Home in on extra tax deductions
EVEN if you only work from home sometimes you may be entitled to more cash than you think.
Don’t get caught by CGT
There are ways to reduce the impact of capital gains tax
Do this now to get the biggest tax refund
IF YOU run a small business there are some sweet deals you should take advantage of before the end of the financial year. So do these things now.
How to save thousands in tax
LESS of your hard-earned money will go to the taxman if you get cracking with these three tactics.
How to wipe your study debts
PAY back your study debts faster and you could make some significant savings and feel like you’ve gained an instant pay rise.
Yes, renters can share tax time joy
RENTING a property does not suck as much as it is made out. Here is how to make a property-related tax deduction and now is the time to act.
Should you prepay to save tax?
Bringing forward tax deductions sounds nice but it must also make financial sense
Three tips to make donations count
GIVING to good causes can make a huge difference to many worldwide. But are you sure you know who you are supporting and if you’re benefiting as well?
Shark Tank judge’s tax tips
TEN’S Shark Tank entrepreneur Naomi Simson says there’s no point spending up just because it’s the end of the tax year — but you can save in other ways.
Treasurer back under attack after Q&A
A FEW stray comments on last night’s Q&A had caused big headaches for the Government, and Treasurer Joe Hockey’s performance is back under attack.
ATO targets dodgy work deductions
TAXPAYERS making excessive work-related expense claims and incorrect rental property deductions can expect to come under the microscope at tax time.
Hockey hands chemists $117,000 raise
WHILE almost every major health program has suffered cuts or freezes in this year’s Federal Budget, chemists have come out the big winners — with a $117,000-a-year pay rise.
Pension changes spark a rethink
Retirees will need to save more or be more proactive about managing their assets
Beat the ticking tax clock
Being an early bird pays off if you want to maximise this year’s tax refund
The truth about negative gearing
IT’S Australia’s ‘N’ word — equally loved and loathed, depending on who you talk to. But beyond the myths and the sledging, what are the facts?
Seven ways to keep up cash flow
Lower super fees, government incentives and investments are just some ways to keep the cash tap flowing once you retire.
Why we should raise the GST
AUSTRALIA needs to follow New Zealand’s example by reducing reliance on income tax and instead raising more money via the GST, a leading economist says.
A 12% GST does what to income tax?
RAISING the rate of the GST sounds nasty — until you work out what it could mean in terms of personal income tax cuts. We reveal the potential effect here.
How much tax does Obama actually pay?
US President Barack Obama and wife Michelle have to cough up for the taxman too but they sure know how to offset it with the right deductions.
Six ways to jump start your nest egg
Follow these strategies to give your nest egg a boost and reach or even exceed your savings goals.
Beat the taxman honestly
YOU shouldn’t pay more tax than you legally have to. Here are some strategies to cut your bill.
Here’s some more bad news
LOOKS like we’ll have to cop high taxes for a while to come, with treasurer Joe Hockey today admitting the country can no longer afford promised tax cuts.
No GST changes… yet: Abbott
TONY Abbott insists the GST won’t change in his government’s first term, despite one of his MPs pushing for it to apply to fresh food, health and education.
Is the GST about to be broadened?
A LIBERAL MP appears to have broken ranks by saying the GST needs to be applied to fresh food, health and eduction. But Labor says all is not as it seems.
Online shopping may get GST
ONLINE shoppers beware: buying goods online may become more expensive as the government prepares to review GST exemption on items under $1000.
Are you about to pay much more?
MORE and more, people are arguing we should be paying a higher GST rate. So are we about to get slogged even more on everything we buy?
Why young Aussies are getting screwed
WHILE Australia’s young people struggle with higher house prices and university fees, one generation is laughing themselves all the way to the bank. Here’s why you’re getting ripped off.
Five great ways to spend your tax refund
THE deadline for submitting your tax return is this Friday, although many will already have done so. Here’s what you should do with the extra cash.
Is Tony Abbott about to raise the GST?
“WHAT Tony Abbott wants to do ought to cause the hairs on the back of Australians’ necks to stand up.” The PM’s opponents say he is gearing up to raise the goods and services tax.
The $55,000 hair-raising tax claim
THE ATO has warned idiots lodging fake expenses, after one taxpayer falsely claimed to have racked up $55,000 for hairdressing and clothing costs.
Clock ticking on tax returns
AUSTRALIANS choosing the do-it-yourself option and filing their own tax returns have just a few weeks to get organised.
The ugly truth about tax time
COMPLETING a tax return is getting more complex as Canberra’s constant rule changes frustrate everyday Australians.
War on durries: Who’s really winning?
THE war on tobacco continues — as of today, smokers will have to cough up even more. But who’s really winning this battle? It’s not who you think.
Simple ways to save lots of money
FORGET the dustpan. This spring clean could save you thousands of dollars. Here’s 10 quick tips to good financial health.
Celebs reveal tax return splurges
DOING your taxes can be painful, but it’s worth it if you’re lucky enough to get some money back.
Obama gets serious on dodgy companies
US PRESIDENT Barack Obama is sick of corporations trying to dodge their taxes. So now he’s getting serious about stopping them.
Tax grab to raise the cost of booze
DRINKERS will pay more today for a slab of beer and spirits under an alcohol price hike. But the pain is greater for those who prefer spirits, or pre-mixers.
Dangers of DIY tax
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.
Crazy things Aussie millionaire claims on tax
HE WAS a millionaire at age 30. And he didn’t get there without knowing more than a few savvy ways to save a buck.
Three tactics to beat the taxman
AUSTRALIA boasts one of the highest personal tax rates in the developed world, but these simple tips will help you hold on to as much of your cash as possible.
Fraudsters out in force at tax time
The ATO urges taxpayers to be wary of criminals on the hunt for personal information.
Claim tax for work at home
AUSSIES who work from home are missing out on valuable tax deductions because they are confused about what they can claim.
Five ways to boost your tax return
WANT to increase your annual rebate? Follow these five easy steps and boost your tax return this year as the tax year comes to a close.
Things you never knew you could claim on tax
LINGERIE, hairdryers, and fines for on-field conduct. There are all sorts of weird and wonderful things you may be able to claim on your tax return.
We’re coming to get you, taxman warns
THE tax office announces a hit list of people it’s targeting this year, and you’re on it.
Many missing out on minimising tax bills
MOST small to medium businesses fail to exploit all of the strategies available to them to minimise their tax, according to a survey released by the Commonwealth Bank.
The loophole to avoid the debt levy
THAT was quick. Money-savvy Aussies have already found a loophole to avoid being stung by the government’s controversial new debt levy.
Seven deadly tax sins you’ll pay for
IT’S painful, yet when it comes to tax we’re committing seven deadly sins and heading to money hell. Here’s how to avoid it.
Devil in the details for tax returns
WHEN it comes to tax returns, timing your payments can mean the difference between a tax refund and a bill.
Cash in at tax time
TAX time doesn’t have to be uncomfortable. In fact, many property investors will find it to be their favourite time of the year.
Taxman has a bigger stick
PEOPLE who make a mistake with this year’s tax return – deliberate or accidental – are risking a big increase in financial penalties.
Original URL: https://www.news.com.au/finance/money/tax/page/27