Getting a cool tax returnGetting a cool tax return

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Getting a cool tax return

For many years I couldn't work out how my co-workers seem to be getting these really cool tax returns, which let them go on holidays to Bali, where I seem to get tax returns that let me go to the local fast food joint if I was lucky! Since I met my girlfriend I started to go to her tax accountant and I finally understand how it all works. There are so many easy deductions that I can claim now, which is going to help me head to Thailand this year! This site has some of the tips I have learnt to help you maximise your return this year.

Which Tax Deductions Are Available For Business Entities In Australia

Operating a business that is not yet established presents a number of financial challenges to the business owner. But small scale businesses create employment opportunities for many Australians, thus helping the government to deal with the problem of unemployment. In return, the government offers a number of tax deductions to such business entities in a bid to encourage the spirit of entrepreneurship. This article discusses a number of tax deductions that small scale business owners need to take advantage of to bring down their business expenditure. Read More 

Over Sixty With No Savings Account: 4 Tips to Prepare for Retirement

The idea of paying for retirement can be stressful for many people, but if your retirement is looming right around the corner, the thought can be extremely stressful. That is especially true if you are sixty or older without a savings account. Luckily, there are things you can do so you can start looking forward to rather than worrying about your retirement. Check out these tips: 1. Don't give up Read More 

Are You Short-Changing Your Deductions? 3 Steps to Take Before the End of Financial Year

The end of the financial year is looming, and you are getting all your paperwork ready for your accountant to prepare your end-of-year financial statements. However, many small businesses are missing out on legitimate tax deductions because they don't take necessary steps before 30 June to claim them. Here are three commonly overlooked deductions that you can take advantage of just by forward thinking. Pay Expenses in Advance If you have some extra cash sitting in the bank, look at which of your expenses you can pay in advance before June 30. Read More 

Signals That You Should Hire a Tax Consultant

Today you can typically file your taxes online, or invest in a computer program that will prepare your taxes for you. While this might save you some money versus the cost of hiring an accountant or tax consultant, there are many advantages to having this type of professional handle your taxes for you. These advantages can actually save you more money than their fees, and they can offer you certain protections that computer programs cannot. Read More 

When should you start thinking about retirement?

Retirement may seem like a lifetime away – but it's hard to ignore that little voice urging you to start preparing. The preservation age (or the age when you're eligible for the pension) is 65 for both men and women in Australia. But retirement takes all shapes and sizes. You don't need to retire at 65, and you don't need to retire completely or all at once. Your retirement age, and the age you should start preparing, will depend on your health, how much money you have, and most of all, your dreams. Read More