Australians are less likely to spend their tax returns on luxuries and more likely to use it to pay bills and for other necessities as the cost of living continues to skyrocket, according to a new survey. More than nine million Australians are set to receive a tax return this year, with the average individual … Read more
With tax season fast approaching, Norton is cautioning Australians to stay vigilant as various tax-related scams start to surface.Cybercriminals are known to take advantage of the increased activity — as individuals and businesses gear up to file their returns with the Australian Taxation Office — to steal sensitive information and inflict financial harm on unsuspecting … Read more
Nearly one million Australians are desperate for a cash injection at the end of the financial year to ease cost-of-living pressures, a recent survey has revealed. Comparison website, Finder, surveyed 1012 people, and found tax refunds are “critical” to the financial wellbeing of one in 10 respondents. Most of those who said a tax refund … Read more
Australians have just weeks left to claim a $500 cash boost to their super. To get the cash boost deposited in their super fund after tax time, eligible Australians will need to fork out their own voluntary contributions by the new financial year on July 1. But “there are some strings attached”, UniSuper advice team … Read more
Tax time is just around the corner which can bring unexpected returns — but also stress and confusion. But it doesn’t have to. Australian finance expert, author and Smart Women Society CEO Téa Angelos this week shared with 7Life her simple guide to everything you need to know for tax time. Know the news with … Read more
Taxpayers can get an upfront payment of up to $1000 as soon as they lodge their return with accounting firm H&R Block. However, consumer advocates have sounded the alarm over the initiative, saying it could unexpectedly force people into debt. H&R Block says it’s willing to give clients a partial “advance on their refund” without … Read more
The penalty for lodging a tax return after the deadline in Australia is set to increase, if proposed legislation passes before the end of the financial year on July 1. The 5.4 per cent increase will bring the existing $313 penalty up to $330, and the penalty will continue to go up every three years … Read more
When you travel abroad, there are all kinds of things you have to think about when you hit the road. There’ll be new road signs to understand, new speed limits to stick to and you might even have to drive on the opposite side. There’s also all kinds of parking rules to follow or you … Read more
Pakistan Telecom operators on Saturday blocked mobile phone SIMs of over 3,500 non-filers of the 5000 cards they had promised to the Federal Board of Revenue (FBR) they would in line with its Income Tax General Order (ITGO) — a move aimed at compelling 506,671 individuals to place on record their returns for 2023, The … Read more
Most Australians are planning to save any extra money they receive from their stage 3 tax cut, new data from NAB Bank has revealed. Younger Australians, women and those earning between $100,000 and $150,000 are the most likely to save their boost when the stage 3 tax cuts kick in on July 1 rather than … Read more
