I Lost Money I Put in a Managed Fund
When you put your hard earned cash in a managed fund, you are actually buying units in the fund. The fund then puts your money in different investments. The value of these units in the fund go up and down depending on how good the investments are.
These investments also generate income (such as interest, dividends etc) and these get paid to you direct
Top Rental Tax Deductions You May be Missing out on
Do you own a rental property? Are you battling falling prices and rising interest rates? We are sure that being able to put money back in your pockets would be gladly accepted.
A great way to do this is by ensuring you are claiming back all the tax deductions you deserve.
Around 70% - 80% of people out there aren’t maximising t
I’m a Tradie – What Can I Claim?
At Gotax, we have completed tax returns for all types of Tradies, from Plumbers to Electricians to Builders. We’ve seen them all.
We know you’d rather be at the pub with your mates than doing your tax return and trust us, we want to get you back to the pub faster than you can say “Tools Down”.
One question Tradies a
Can I claim driving to work?
If you need to use your own personal vehicle for work, you may be able to claim the car expenses or km’s as a tax deduction on your e-tax return. While this is an exciting prospect for those who may not be aware of it, it’s quite easy to get confused by the eligibility around whether you can or can’t claim driving to and from work, and it varies fr
HECS/HELP!! Pt. Two
In our previous blog we discussed how a HECS-HELP debt is repaid and the kind of income that is assessed to determine whether you need to repay your HECS-HELP debt.
So how much do you have to pay?
The amount you repay each year is a percentage of your repayment income. The percentage increases as your income increases, so the more you earn, the higher your repayme
HECS/HELP!! Pt. One
So, you have undertaken some study to make yourself a learned person. If you did not have the money to pay the excessive course fees upfront (who does) then you probably took advantage of the governments' generosity and had them pay for it. These fees are now in the form of a HECS-HELP debt or Student Financial Supplement debt, depending on when you studied. The unfortun
Should I Get a Second Job? Won't The Tax Man Take It?
This is a common misconception out there regarding getting a second job. It’s true, in certain situations a second job can get taxed at just under 50%, but that only happens if you have other income that puts your total income over $180,000. So that leaves most of us out of that.
The amount of tax you pay on a second job dep
I Want To Increase My Super
I want to increase my Super, what's the best way of doing that?
This is a common question we get, especially from workers approaching retirement. There are 2 main ways of increasing your super.
Below is a brief summary:
Concessional contributions: These are contributi
I'm a Truckie - What Can I Claim?
If you are a truckie and need to travel overnight, or for days on end, the work-related expenses can really add up. The good news is that you can claim some of these expenses back on your Gotax Online etax return and you can do it while on the road!
A few things to remember before making any claims are:
You need to keep a record of what you hav
Can I Claim My Boots?
Do you work somewhere that requires you to wear protective steel cap boots? Like on a building site or in the mines? Or maybe you’re a concretor and need to wear rubber boots for work?
If yes, then you may be able to claim the cost of your boots to protect your toots (feet).
How awesome is that? If your boots are over $300 make sure you keep your receipts,