PERSONAL

Are you thinking of becoming an independent contractor, consultant or a freelancer? If you’re embarking on a new career path, take some time to work through the personal services income (PSI)

In today's sharing economy, platforms like Airbnb have made it easier than ever to earn extra income by renting out a spare room or your entire home. While this can be financially rewarding, many

Personal tax rates cut from 1 July 2026 and 2027  The Government has proposed to cut the personal income tax rate for the income threshold ($18,200 - $45,000) from 16% to 15% (from 1 July 2026)

If you’ve thought about upskilling or undertaking professional development this year, you may be able to claim some of your self-education expenses in your 2024–2025 income tax

Tax deductions on vacant land. What could be complicated about that? But as with all things tax, it’s not straightforward. Your bit of dirt needs to meet a number of stringent conditions to qualify

Navigating the Australian tax system can be challenging, especially when it comes to understanding the Medicare levy and the Medicare levy surcharge. Let’s break these down to help you

If you're one of the millions of Australians with a Higher Education Loan Program (HELP) debt, you might be wondering how the government's proposed changes to HELP loans could affect you. These

A tax offset reduces the tax you pay on your taxable income. Most offsets aren't refundable, which means they can't reduce your tax below zero. However, some (such as the private health insurance tax

If you own a holiday home you might rent it out at times when you’re not using it yourself. This article considers some of the tax issues you need to be aware of. Remember, you should seek

Many retirees find themselves cash-poor but asset-rich. For those living on larger properties, subdividing and selling unused land can be a potential retirement strategy to generate funds for

The new financial year has begun, and with it have come some important changes to superannuation from 1 July 2024. With these changes coming into effect, it's a good time to give your super a

It might seem like a good idea to lodge your tax return as soon as the financial year ends - with costs of living rising you might be hoping for a refund or you might just want to tick it off your

As tax time approaches, reports of ATO impersonation scams are on the rise. Taxpayers should continue to exercise vigilance and think carefully before acting on any unsolicited contact from entities

On Tuesday 14 May 2024, Treasurer Jim Chalmers handed down the 2024-25 Federal Budget, his 3rd Budget. The major personal tax-related measures announced in the Budget include the

The ATO has recently released a guideline that will allow certain legal personal representatives (LPRs), including executors or administrators, of less complex estates to finalise those estates

Now that the revised stage 3 tax cuts have passed all stages of Parliament and received Royal Assent, the new rates are law and will apply from 1 July 2024. While the revised rates won’t apply for

Since the government’s announced changes to the Stage 3 tax cuts to give lower income earners more benefits, the chorus of voices advocating for changes to other aspects of the tax system, such

The talk about the stage 3 tax cuts has reached fever pitch in recent days. The changes were originally legislated by the previous government in 2019 with support of the then Labor