The Australian Tax Office [ATO] released the Taxation statistics report for 2012-2013 on 29 April 2015.
This report presents an overview of 2013 income tax returns for individuals, companies, superannuation funds, partnerships and trusts.
One surprising result was the number of taxable individuals had dropped … Read the rest
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income.
If the annual income is $37,000 then the tax payable is $3,572. This is 9.65% of Taxable Income.
At an income of $80,000 … Read the rest
As part of the 2014-15 Australian Federal Budget, the Temporary Budget Repair Levy will commence from 1st July 2014 and be in place for three years
This is a levy on high paid earners (over $180,000 per year) only.
The … Read the rest
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income.
If the annual income is $37,000 then the tax payable is $3,572. This is 9.65%.
At an income of $80,000 the tax will be $17,547. This … Read the rest
There are signs that the rate of the Goods and Services Tax [GST] in Australia may be on the table for an increase in the near future. Sometimes theses things are considered, but never actioned, but what are the REAL chances in an increase in … Read the rest
Changes in the Tax system have resulted in many people losing part of the 30% Rebate on Private Medical Insurance premiums.
Those singles with an income of over $84,000 in the 2012-13 tax year, are now only eligible for up to a 20% rebate on those premiums.
The problem is … Read the rest
What you can and cannot claim
I am not sure if this is common knowledge, but there are many expenses that those in the Adult Industry can claim against tax in Australia, and these include:
What you can claim
Advertising
You can claim a deduction for the total cost of … Read the rest
The Australian Taxation Office (ATO) published its “Taxation statistics 2010-11” report on 24th April 2013.
www.ato.gov.au/corporate/content/00345977.htm
Each edition of Taxation statistics is a broad collection of data compiled from income tax returns and other information provided to the ATO.
2010/2011 Tax Year
12,637,735 individual tax returns were submitted with total … Read the rest
Almost everyone in Australia needs to lodge a tax return every year with the ATO, even those who pay no tax need to advise the ATO of that to avoid being chased for non lodgement of tax returns.
Most Tax returns need … Read the rest
The basic principle is that for every $1 that an eligible person puts into super, the Government will match that $1 with a $1 of their own, giving you $2 into your super fund account.
There is a maximum limit, which is now $1,000 (from 1st … Read the rest
