Personal Income Tax

Working from Home: 5 Tips for Getting Deductions Right

If you offered somebody an out from the daily commute, flexible working hours or a chance to turn their inherent skills into a personal business, they would probably bite your fingers off in their hurry to grab hold of that offer. For many people, the idea of working at home offers better prospects when considering work-life balance.

Data released by the Australian Bureau of Statistics (ABS) reveals that about 3.5 million workers do some measure of work from home either for their proper job or their business. And if past figures are anything to go by, this trend will only continue to grow with the help of technology.

Tax Refunds: 4 Tips Growing It Instead of Blowing It

There are countless quotes and proverbs from around the world that talk about preparing for tomorrow today. Sadly, it seems not enough people imbibe the message, especially when it comes to money. Millennials seem to be the most culpable. It seems the general thinking among this cohort of young people is “Why should I keep the money for a future version of me, when I can spend the money on cars, holidays, traveling, and dinners that my present self wants?  My retired self will sort himself out when it’s time to cross the proverbial bridge”.

Bracket Creep: 3 Ways to Beat it and Keep More of Your Income

It can be very odd to get a salary raise and the gains of the raise are swallowed by a change in your tax bracket. You’re not alone, though, and the fact that a phrase – “Bracket Creep” – exists for it is perhaps consolation. Creating smaller tax brackets and adjusting taxes for inflation are some of them measures the government has taken to combat the effects of bracket creep, but unfortunately, many hard-working citizens are still affected. Because it is not an outright tax increase or other more “malevolent” forms of income reduction, many people are unaware of how much damage bracket creep can do to their incomes. Here’s an illustration of how it works:

How You Can See Australia and Claim Your Expenses Back In Tax

Living a nomadic lifestyle, seeing Australia, meeting new people, having new experiences while working on farms - this is an attractive way of living. To pay your way you can work as a fruit picker or do another type of job. You can move from farm to farm soaking up the sunshine and expanding your life experiences. It sounds great, but there is a bonus - you may be able to claim your expenses as a tax deduction.

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02
Feb2015

Welcome to my blog

Welcome to my blog

02
Nov2016

Qualifications

Recently somebody asked me how many qualifications and post nominals I had. I replied that I don’t know – I’ve lost trac...

02
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Ben, Have you invented any new words lately?

A correspondent has asked if I have invented any new words. Indeed I have. Procreastation: The tendency to put off doing...

02
Nov2016

Ben, what is the greatest waste of taxpayers money?

Thank you for asking this important question. The greatest waste of taxpayers money in history is without doubt the new...

02
Nov2016

Ben, What is the Mac tax? Is it federal or state?

Thank you for that interesting question. The Mac tax is a tax that is imposed neither by the federal nor the state gover...