Taxation +

I have a payment plan with the ATO for FY2024 and there is still an outstanding balance. But now I have a new tax bill for FY2025. My understanding is that I cannot have two ATO payment plans. Is …

Ok, questions on invesment tax - so if I have an investment property with a loan with $0 in the offset account, I can deduct the loan interest - say 5%, and say that comes out to $2000/month in …

I’m going to raise this with my accountant in January when I file my taxes, but does anyone have experience building a home extension to rent out? We’ll probably be adding a couple of rooms to …

My employer has offered me the option to cash out some of my annual leave,(two weeks) but I’ve heard that it can be heavily taxed. I’m trying to understand how to reduce the tax — can anyone …

For tax return, my accountant needs tax report for crypto. Since, it is on multiple sites, he asked me to get the report from cointracking.info. But they are not free. Does anyone know any free ways …

The states and territories are preparing a tax of about 3 cents per kilometer for driving an EV. The tax is to fund the road maintenance. The average distance driven per year in Australia is about …

Hi All Had a question about overdue payments and interest charged by ato given they are not taxable from July 1 2025: GIC and SIC incurred before 1 July 2025 can be claimed as a deduction in your …

I was thinking about this today….they should get rid of people paying taxes in Australia like income tax,capital gains,luxury car tax….all taxes and replace it with a simple system of …

Hi all, a couple years ago we purchased our first investment property. Firstly, I know ignorance is not a defence. We relied heavily on broker, buyers agent and RE for advice but after contacting an …

I recieved a message form the ATO today saying: "Check your study loan balance on ATO Online. We have reduced any 2023 and 2024 indexation. For more information search XXXXXXXXX on the ATO …

Good morning all, I received shares from my company in last financial year, and when lodging my tax return, they are appearing as income, even though I haven't sold them yet. This is causing …

Hi, I have some saving in my account. And i am paying more tax in the last 2 years due to my salary plus interest earnt My friend suggested i buy an investment property and borrow as much as i can …

I'm new to Australia and this is my first financial year. And I read and understand a bit about claiming tax return here. But have some questions about claiming tax return for WFH purpose …

Hi all. My tax return has just gone through, and my deductions this year were significant. I noticed tonight when updating my estimated family income with Centrelink that it uses "Adjusted …

With 96% of all OzB’ers earning over 190k, I was wondering if any of our esteemed money-baggers actively worked to reduce their tax bill, and if so, what? Novated leasing an EV seems like a pretty …

Hey guys, I may be living under the rocks, so not sure what these tax cuts are. I make $116,100 annually in IT. My take home pay last pay period was $3281 but it has increased to $3381. I joined …

Hi all, Has anyone been successful claiming a custom built PC on tax before? I do IT and WFH occassionally. However, let's just say that the specs of my PC "are required" to do my job …

Hi, am a sole trader working in tech. I purchased Apple gift cards and placed an order for a custom-build laptop through the Apple online store. The laptop has not yet been shipped, hence I do not …

Hi, I just wonder if you know the new stage-3 tax cut come into effect this FY tax return? They say it is 01/07/2024 but I don’t know if it applies from that day forward or any tax return done …