Personal Tax Return Tips

lodge your tax return

ATO gives ‘green light’ to lodge

By Warren Kruger / September 12, 2023 / 0 Comments

The ATO is giving taxpayers with simple affairs the ‘green light’ to lodge their annual income tax returns. ATO Assistant Commissioner Tim Loh said that most taxpayers with simple affairs will find the information they need to lodge has now been pre-filled in their tax return. Mr Loh also reminded taxpayers that some income may […]

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How the myGov update affects taxpayers | Taxwise Australia | (08) 9248 8124

How the myGov update affects taxpayers

By Warren Kruger / October 4, 2022 / 0 Comments

Clients using myGov will see that it has recently been updated with a new look and more features. When signed in to myGov, clients might receive notifications through ‘Payments and claims’ from other government services, such as Centrelink.  However, the ATO has stated that it will not communicate using this feature.  Instead, the ATO will […]

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ATO Priorities This Tax Time | Taxwise Australia | (08) 9248 8124

ATO Focus This Tax Time

By Warren Kruger / June 25, 2022 / 0 Comments

The ATO has announced four key areas that it will be focusing on for Tax Time 2022: Record-keeping. Work-related expenses. Rental property income and deductions. Capital gains from crypto assets, property, and shares. Before claiming income tax deductions for their expenses, taxpayers must ensure: they spent the money themselves and were not reimbursed; if an […]

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Avoid Double Dipping On Your Deductions | Taxwise Australia | (08) 9248 8124

Avoid Double Dipping On Your Tax Deductions

By Warren Kruger / June 21, 2022 / 0 Comments

Taxpayers are reminded not to make the mistake of ‘double dipping’ on tax deductions (that is, claiming expenses twice) in their tax return this year. Some of the ‘double dipping’ mistakes commonly made relate to the following deductions: Working From Home Expenses A common mistake involves using the ‘shortcut method’ to claim working from home […]

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Private Health Insurance Rebate | Taxwise Australia | (08) 9248 8124

No Reduction In The Private Health Insurance Rebate As Of 1 April 2022

By Warren Kruger / May 3, 2022 / 0 Comments

An event that we have become accustomed to every 1 April, is that the amount of the Private Health Insurance (‘PHI’) rebate decreases. The Australian Government rebate on PHI is annually indexed on 1 April by a Rebate Adjustment Factor (‘RAF’) representing the difference between the Consumer Price Index and the industry weighted average increase […]

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Covid Test Costs To Be Tax Deductible | Taxwise Australia | (08) 9248 8124

Covid Test Costs To Be Tax Deductible

By Warren Kruger / February 22, 2022 / 0 Comments

The Australian government announced on 7 February 2022 that legislation will be changed to ensure covid test costs will be tax deductible for the 2022 financial year. The deduction will apply both when an individual is required to attend the workplace or has the option to work remotely. What testing expenses will you be able […]

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