New research reveals that despite 75% of property investors reporting that they will lodge their return through an accountant this year, many are still feeling stressed at tax time.
New research from cloud-based tax software TaxTank reveals that 50% of Gen X’s, 40% of Millennials, and 30% of Baby Boomers intend on claiming work-from-home (WFH) expenses this tax year.
The findings coincide with a recent statement from the ATO saying it would scrutinise WFH expenses this tax year with millions of Australians having pivoted to remote and hybrid work environments due to COVID-19.
Property investors aren’t always aware of the full gamut of investment property deductions that they are entitled to. In this blog post, we will discuss some of the most common investment property deductions and how you can take advantage of them.
Getting a great tax return can help you reach your financial goals faster. Whether it’s an overseas holiday or paying down some debt, your tax return can be used for a variety of life-affirming purposes. Think of it as a form of forced savings. In 2021, Australian taxpayers received an average tax refund of $2490 – not a bad incentive to make the most of tax time!
We all know that paying taxes is one of the certainties of life. For many it is a dreaded once-a-year event full of confusion and hassle. For others, they see the need to get prepared prior and look for ways they can minimize the amount of tax they have to pay, before the EOFY. If you want to keep more of your hard-earned money in your pocket, preparing early is a sure-fire way of maximising your tax return.
Are you a property investor who is looking to get the most out of your tax return? If so, you may be missing out on some key deductions. In this blog post, we will discuss some of the most commonly missed deductions for property investors.
New research reveals that over half of Australians (56%) are worried and fearful when it comes to lodging their tax returns with missed deductions, not knowing whether to expect a tax refund or bill, and making a mistake being flagged as the leading causes.
Tax time is nearly here and the stress levels are mounting for ordinary Australians who want a fast and accurate way to lodge their tax return. And not just any old tax return but one that ensures you claim every possible deduction to which you are entitled.
Preparing a tax return can mean very different things to different people. For some, it spells doom and gloom. A worrying time of year where missed deductions, lost receipts, and uncertainty means they end up paying more tax than they need to, or worse.
Australians plan to save their tax returns this year despite not knowing nor actively planning to maximise what they receive, according to TaxTank
New research from cloud-based tax software TaxTank reveals over half (56%) of Australians find tax time stressful, with the notion of missed deductions causing the greatest degree of anxiety.
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