Received an email from H&R block about Income Tax training.
Using the course you’ll be able to prepare and maximise your tax returns.
Refer to course details here
Plus, at the end of the course, there is the added opportunity to be offered employment working as a tax consultant with H&R Block.
The fee you pay is fully tax deductible on your 2023 Tax Return.
Sorry I get all my financial / taxation advice from OzBargain. That’s how I ended up with 5 high yield investment vehicles.
Same. Just financed a new Maserati Ghibli. Lost 40k driving it off the lot. Rinse and repeat.
I have appreciation for your depreciation
The ATO website is better. I'm almost certain the ozbargain community are highly educated or talented, they dont need these sheeet.
I'm almost certain the ozbargain community are highly educated or talented, they dont need these sheeet.
Lol
its a joke bro
I've done this course. You can definitely pick up the information on the ATO.
Self-education expenses: $399
Cost of managing tax affairs: $399
If you can, rubbish private health insurance policy inc basic accident hospital cover that costs less than the medicare levy surcharge (you can also just pay the surcharge and support the public health system instead of lining the insurers' pockets) if taxable income >$90,000
Voluntary Super Contributions + notice of intent to reduce tax bracket and/or use First Home Super Saver scheme in the future, free money
Pay off HECS before indexation date (anticipated to be greater than 3.9% this year) if you've elected to PAYG and advised payroll you have a student loan, get it all back when you lodge your return
disclaimer: eye no nahting, paycalculator.com.au
Can’t believe anybody would pay for this. Maybe less than $50 isn’t too bad.
You can refer to the ATO’s comprehensive guide here
https://www.ato.gov.au/uploadedFiles/Content/IND/downloads/I…
you, kind sir, are a god among men
Thank you, and salute !
Ya the ATO site is really comprehensive and they offer so many free tools to calculate asset depreciation and cost projections and all sorts of things.
They get a bad rap but in the last few years they are really pushing ahead with digitisation and free tools most of which are cloud hosted.
Missing the point here.
My wife did this course so as to be employed by H&R Block. She was taken on a contract after this one, before Covid days. This course isn’t for someone to learn and save on their taxes.
At the same time, she spoke to the guy selling her the course and got a 50% discount on the spot.
You saying your source can reduce it down to $250?
Sorry, I don’t have any ‘source’.
Gave details of my experience with H&R Block. Worth checking with in store reps
Once ahem "trained" as a consultant, I wonder how much H&R take off you as their cut.
You can get on a contract with them at low wages, say 25-30$ an hour. YMMV.
And what do they charge the client $100/ hr?
Welcome to ‘how any company works for dummiesz’
The fee you pay is fully tax deductible on your 2023 Tax Return
this is great!
Fully tax deductible means you save the income tax you would have paid on the $400.
Depending on your tax bracket, you're only getting a third back and you're still paying for the other two thirds.
Also, these program is usually taken up by new migrants who have some accounting/finance background and are looking to gain some experience. This is kind of getting a foot in the door. For them the expense may not be tax deductible as it may be considered incurred too soon. Any expense to be considered tax deductible needs to be incurred in the course of earning an income. For this reason travel from home to work is not deductible expense, but from work to another location is deductible.
I wonder how this will be a tax deduction for most people. I guess one could argue that this expense is incurred to manage their own tax affairs.
I guess one could argue that this expense is incurred to manage their own tax affairs.
Yep, precisely this I think.
However, for most people who work salaried jobs and don't have investment properties etc, then tax is super simple - your employer already collects the income tax as PAYE each time you get paid, and you only need to claim deductions if you're actually spending your own money in the course of your work (which most people don't, because work provides them with equipment etc).
If you have shares or Crypto etc then use a tool to track those, and just enter your profit or loss into the capital gains section when you submit the tax return.
Don't forget to add up the hours you worked from home, claim the Covid shortcut method on those hours, and that's basically it 🤷🏼♂️
I always wondered what garbage training those people who set up in shopping centre corridors in July have. Now i know.