As tax time fast approaches, the three big ticket items in the ATO’s sights have been revealed. The Australian Taxation Office (ATO) this week announced it would be cracking down on taxpayers who incorrectly claimed work-related expenses, inflated claims for rental properties and failed to include all income when lodging. These are among the most … Read more
Tax time is nearing, with the financial year ticking over on July 1, 2024. If you are lodging your own tax return, you need to do so by October 31. Every year, the Australian Taxation Office (ATO) focuses on areas where taxpayers are prone — either accidentally or deliberately — to make errors, director of … Read more
Tax time is just around the corner and with it comes an important date to mark in your calendar to avoid a hefty fine. The end of the financial year, July 1, is fast approaching, meaning it is time to start getting your affairs in order. If you are lodging your own tax return, you … Read more
The months are flying by and 2024 is almost halfway through, meaning tax time is fast approaching. With just three months to go until it’s time to file, there’s no harm in starting to get your affairs in order. H+R Block Australia tax communications director Mark Chapman encouraged taxpayers to pull supporting documents together sooner … Read more
A TikTok posted on Tuesday has gone viral for highlighting that the Australian Government is offering millions of low and middle income earners up to $500 annually in “free” superannuation contributions — but there’s a catch. To get the cash boost deposited in their super fund after tax time, eligible Australians will need to fork … Read more
Jeff Bezos didn’t wait long to start cashing in on Amazon.com Inc.’s rally to start the year. Less than two weeks after disclosing a plan to dispose of as many as 50 million shares of the company he founded, Bezos has offloaded 24 million shares, worth more than $4 billion. The sales, revealed in regulatory … Read more
The peak Australian community services body says JobSeeker and related government payments must be “urgently raised and without further delay” following the announcement that an additional $115 million in funding will be committed to cost-of-living support services over the next five years. Beneficiaries of the funding include emergency relief organisations, financial counselling and other hardship … Read more
Anthony Albanese has ruled out an increase to welfare payments in exchange for crossbench support to ensure the passage of the government’s proposed changes to stage three tax cuts. Under a reworked scheme unveiled by the prime minister on Thursday, anyone earning less than $150,000 will receive a larger tax cut while those earning more … Read more
Millions of Australians will be able to pay a lower Medicare levy, or avoid the fee altogether, following changes by the Albanese government announced alongside stage three tax cuts on Thursday. The low-income threshold, for which a two per cent Medicare levy applies, will increase by 7.1 per cent according to figures obtained by the … Read more
Anthony Albanese has unveiled a major redesign of stage three tax cuts in a move aimed at helping low- and middle-income earners battling through Australia’s cost-of-living crisis. The stage three cuts — which were introduced and legislated while the former Coalition government was in power and before the current economic environment marred by crippling inflation … Read more
