Major changes to income tax, superannuation and the minimum wage came into effect on Monday, with Aussies set to have more money in their coffers – now, at tax time and at retirement. From this week, the implementation of stage 3 tax cuts will increase workers’ regular pay, while moreContinue Reading
Eager taxpayers keen to lodge their tax returns have slammed the Australian Taxation Office after they were placed in a “slow” online queue with wait times of up to an hour. Australians can now file their tax returns, and many eager for a pay bump have flooded social media slammingContinue Reading
A tax expert has revealed the items that Aussies might not realise they’re able to claim back at tax time. July 1 arrives on Monday, meaning people will be able to start submitting their returns with the ATO. CPA Australia provided a list of items which many people didn’t realiseContinue Reading
As millions of Aussies start preparing their tax returns ahead of the end of the financial year, experts are warning of the increasing risks of Australian Tax Office (ATO) impersonation scams. ATO-branded SMS and emails containing links to fake myGov web pages remain one of the most common types ofContinue Reading
Aussie taxpayers are being warned about the hidden pitfalls of rushing to lodge their tax return and the risk of making costly mistakes. ATO assistant commissioner Rob Thomson on Monday reminded taxpayers ahead of July 1 that “tax time is not a race”. Mr Thompson said taxpayers had a “muchContinue Reading
It’s tax time again and Aussies are being urged to take their time and not fall into a number of common traps. CPA Australia is offering some crucial advice for people as they get set to prepare their tax return, so they can get the most out of their returnsContinue Reading
With the end of financial year fast approaching, an expert reveals some of the common mistakes made by Australians when it comes to preparing their tax returns, and how to avoid them. Too many Australians are making mistakes on their tax returns, says Gavan Ord, spokesperson for CPA Australia, Australia’sContinue Reading
People need to be wary of scammers ripping them off under the guise of tax time cons, Australia’s Customer Owned Banking Association warns. In June 2023, Australians lost $38 million to scams, government figures show. End of financial year business makes an attractive disguise for scammers, Customer Owned Banking AssociationContinue Reading
With the end of financial year fast approaching, experts are sharing tips on what tax claims sole traders can lodge in order to maximise their tax returns this year. Recent research unveiled by digital accounting service Hnry showed sole traders on average miss out on over $5500 in unclaimed expensesContinue Reading
A tax credit is on the way for Aussies who scrimped and saved to pay off their student loan debt to avoid being hit by an eye-watering increase to indexation. The government is set to wipe about $3bn through a major change to the HECS and HELP loans in aContinue Reading