tax

How to cash in at tax time
0

Forget Christmas! An investor’s favourite time of year is June 30.  The beginning of tax time.  A time to squirrel back as much money from the taxman as legally possible. And if you’re a property investor, there is a plethora of deductions that can reduce your liability and put money back in your pocket. That’s…

12 Easy Ways to save on taxes for the Self-Employed in Australia
0

Being self-employed is a tough ask, as one needs to market themselves, entail costs, perform services and then handle tax filings too. Taking on risks and costs that are usually handled by other people when working on a job is tough. Sometimes they do not get enough customers or fail to generate income and need…

We’re a nation of savers at tax time: 31% of Aussies will save their tax return
0

Australians are financially responsible when it comes to using their tax return, with 31% of those expecting a return in the 2016-2017 financial year planning to save it, according to finder.com.au.   Using it towards household bills (23%), a holiday (12%), or making additional mortgage (10%) and credit card (6%) repayments were cited as the…

How Australia should react to the Trump tax cuts
3

The Trump tax cut will create new investment in America, but at the expense of countries like Australia, writes… Pascalis Raimondos, Queensland University of Technology and Sara L. McGaughey, Griffith University President Donald Trump has proposed cutting the US corporate tax rate from 35% to 15% and ending the practice of taxing the foreign income…

Despite superannuation changes, one tax loophole remains
0

The government has yet to address a major incentive to put assets into super and hold them until the retirement phase, writes… Kevin Davis, Australian Centre for Financial Studies The Howard government, when flush with revenue, made a bad tax decisions which continue to haunt current policy makers. It removed the tax on the retirement…

Which fees and charges are tax deductible?
0

Every year at tax time I wonder whether property investors are the only people in Australia who look forward to submitting their tax return! That’s because property investment not only provides us with the ability to create long-term wealth through the purchase of income-producing assets, but our tax system allows us to claim legitimate expenses…

Tips to improve depreciation deductions this tax time
0

The end of financial year is almost here and with it, property investors will be readying themselves to visit their Accountant to complete their annual income tax return. Every year the Australian Taxation Office (ATO) encourages property investors to be vigilant with their claims.  It is therefore important for investors to seek expert advice on…

The obvious and not-so-obvious problems with Hockey's bank deposit tax
1

A flat rate bank deposit tax could be distorting, and not for the reasons the banks suggest, writes… Andrew Schmulow, University of Melbourne The federal government has given itself until the end of the year to respond to the many recommendations contained within last year’s Financial System Inquiry report, but in one area it has…