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
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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
Index: Income Tax Rates in Australia
|
Taxable income |
Tax on this income |
$0 ?? $6,000 |
Nil |
$6,001 ?? $37,000 |
15c for each $1 over $6,000 |
$37,001 ?? $80,000 |
$4,650 plus 30c for each $1 over $37,000 |
$80,001 ?? $180,000 |
$17,550 plus 37c |
For the 2009-10 income year, you will be eligible to claim a dependent spouse offset if all of the following apply:
The individual income tax rates for the current year 2009-2010 year are:
|
Taxable income |
Tax on this income |
$0 ?? $6,000 |
Nil |
$6,001 ?? $35,000 |
15c for each $1 over $6,000 |
$35,001 ?? $80,000 |
$4,350 plus 30c for each $1 over $34,000 |
$80,001 ?? $180,000 |
$17,850 plus 38c for each |
You are eligible to get 20% rebate on your medical expenses in each year above the annual threshold set by the Australian Tax Office, their is no upper limit to your claim.
There are no death duties in Australia, as Australia has abolished inheritance taxes for anyone who died after 30 June 1979, although Queensland had earlier abolished that tax in 1977.
However, tax may be payable on certain ‘income’ or ‘capital transactions’ that occur as a consequence of a person’s death.… Read the rest
