Taxes

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How to Tax-Deduct Home-Office Expenses as a Micro-Entrepreneur

One of the most attractive deductions for micro-entrepreneurs is the home office deduction. Basically the home-office deduction allows micro-entrepreneurs to deduct a portion of their home [more…]

Tax-Deductible Expenses for Micro-Entrepreneurs

For tax purposes, micro-entrepreneurs can deduct “ordinary and necessary” expenses incurred on behalf of their business. An ordinary expense is any expense common to a particular type of business. An ordinary [more…]

Tips for Australian Individual Tax Returns and Assessable Income

In the UK, an employee is a person who receives a salary or wage for work performed under a contract wholly, or principally, for labour provided. If you derive a salary or wage under the PAYG withholding [more…]

Australian Tax Rates 2013–14

For resident individuals in Australia, tax is levied on worldwide income on a progressive basis, referred to as marginal tax rates. Your marginal tax rates [more…]

Tax Offsets in Australia

When figuring taxes in Australia, you can use tax offsets to reduce your tax payable. You can’t use tax offsets to reduce the Medicare levy liability.

Ordinarily, you can’t have unused tax offsets refunded [more…]

Capital Gains Tax in Australia

If you sell things like shares, real estate, works of art, or other assets that you acquired after 19 September 1985, you may be liable to pay capital gains tax [more…]

What Superannuation Means in Australia

Superannuation is a scheme to help you fund your retirement. Monies invested can’t be accessed until you satisfy a condition of release, such as when you retire. Some of the Australian superannuation rules [more…]

Common Australian Tax Deductions for Share Investors

If you’re a share investor, to qualify for a tax deduction with respect to dividend payments, a direct and relevant connection must exist between the expenditure you incur and the dividends you receive [more…]

Common Tax Deductions for Australian Property Owners

If you invest in real estate in Australia, you may be eligible for tax benefits. Here are some examples of the types of expenditure that are tax deductible: [more…]

Tax for Australians For Dummies Cheat Sheet

Everyday Australian tax issues don’t have to be complex and difficult to understand. Coming to grips with core taxation concepts like marginal tax rates, tax offsets, capital gains tax, superannuation [more…]

Tax-Effective Investments: Australian Tax Considerations

In Australia, if you derive income from investment activities, such as interest, dividends and rent, the amount you receive is ordinarily liable to tax when it is paid or credited to your account. Under [more…]

Tax and Running a Business in Australia

There are four ways you can structure your Australian business affairs. You can run your business as a sole trader, partnership, company or trust. As there are many legal rules and regulations associated [more…]

Funding Your Retirement in Australia

Superannuation is a scheme to help fund your retirement after employment in Australia. There are different ways you can boost your retirement nest egg with super: [more…]

10 Top Australian Tax Tips for Retirement

The first difference that hits you when you retire is your regular salary or wage payments cease the moment you step outside the boss’s premises (thanks for the memories!). From that moment onwards, you’re [more…]

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