Secrets from a Qld Tax Specialist: The top 5 tax tips for Property Investors

Tax time can be a challenge. The ATO’s aim is to collect as much tax as possible. The aim of most Australian taxpayers is to pay only as much as they have to. Navigating the rules is especially difficult for individuals and sole traders that don’t have teams of tax specialists on hand to wade through the requirements. For property investors, the complexities can be quite a burden. 41.9% of total revenue collected in 2020 ($231.2b) was collected from individual taxpayers, excluding property taxes. This is 2.4 times more than businesses paid.

13/07/2022

MYOB vs TaxTank

We’ve put together a comparison of MYOB and TaxTank to see who the two different tax help platforms compare, in terms of price, functionality, as well as special features.

06/07/2022

Man and woman working on property investor tax return

Property investor tax returns just got a whole lot easier, better and less expensive

Tax time is stressful for a lot of people. But if you’re a property investor, it can be even more so. Not only do you have to worry about your own tax return, but you also have to think about the investment property and how it will affect your taxes.

06/07/2022

A tax expert’s 5 top tips to maximise what you get back this tax time

Are you already thinking about the extra money you could be receiving at tax time? Tax time is approaching and for millions of Australians this year could deliver a nice bonus thanks to the boost of a tax offset announced in the recent federal budget.

05/07/2022

How to avoid tax time stress and not miss a deduction

If just the thought of tax time makes your stress levels rise, you are not alone according to new research conducted by cloud-based tax software, TaxTank.

The recent survey of 1000 Australian taxpayers revealed more than half (56%) find tax time stressful with missed deductions the leading cause of stress ahead of not knowing if they will receive a tax refund or bill and making a mistake.

04/07/2022

Xero vs TaxTank

We’ve put together a comparison of Xero and TaxTank to see who the two different tax help platforms compare, in terms of price, functionality, as well as special features.

30/06/2022

Doing your own tax return is a key to financial success

When it comes to tax time, many people feel like they are at a loss. They don’t understand the tax system and feel like they’re not in control with little power to do anything to actually control how much tax they pay.

30/06/2022

Zoho vs TaxTank

We’ve put together a comparison of Zoho and TaxTank to see who the two different tax help platforms compare, in terms of price, functionality, as well as special features.

25/06/2022

Top 3 tax time tips for Property Investors

Australian fintech TaxTank allows property investors to monitor their overall equity, cash position and tax position in real time to make smart investment decisions and maximise their tax deductions. Get their top tax time tips here.

24/06/2022

The affordable cloud-based tax software every property investor should have

Australian fintech TaxTank allows property investors to monitor their overall equity, cash position and tax position in real time to make smart investment decisions and maximise their tax deductions.

With the real estate environment in Australia changing rapidly with inflation and rising interest rates, property investors will likely have some important decisions to make in the coming months, and cloud-based tax management software TaxTank is here to help.

24/06/2022

Prospect of market crash polarising amongst Aussie property investors

With so much speculation in the air regarding the Australian property market, investors are certainly starting to think about where their portfolios stand and where to next. Research from Australian fintech startup TaxTank shows that investors are of two minds – while 54% list property market crash among their top three concerns, only 22% list it as their primary concern.

21/06/2022

Is the ATO’s move towards automation impacting property investor loyalty?

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.

17/06/2022

Over half of Aussie property investors are concerned about rising interest rates

New research reveals that a huge 63% of property investors are feeling concerned about rising interest rates, and with more interest rate rises projected over the next few months, the pressures aren’t going to ease any time soon. The research, commissioned by Australian fintech startup, TaxTank, also showed that 40% of property investors are concerned about the cost of living and more than one in ten fear they may have to sell.

09/06/2022

Work-from-home tax deductions top of mind as ATO cracks down

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.

07/06/2022

Investment property deductions: How to pay less tax and turn more profit from your investment

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.

02/06/2022

Maximise your tax return in 2022

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!

02/06/2022

Preparing early can help maximise your MyTax tax return

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.

02/06/2022

QuickBooks vs TaxTank

We’ve put together a comparison of QuickBooks and TaxTank to see who the two different tax help platforms compare, in terms of price, functionality, as well as special features.

02/06/2022

Deductions for property investors: What not to forget this year

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.

01/06/2022

myprosperity vs TaxTank

We’ve put together a comparison of myprosperity and TaxTank to see who the two different tax help platforms compare, in terms of price, functionality, as well as special features.

01/06/2022

How to keep your tax receipts organised so you claim every deduction

Are you throwing money in the bin? This is potentially what is happening when you rely on the old school method of stuffing tax receipts into a shoebox. Ultimately, those paper tax receipts can become illegible and go missing. The good news is that it doesn’t have to be this way.

31/05/2022

Thinking about selling? Capital Gains Tax (CGT) explained

Capital gains tax has a way of hitting property sellers like a bolt from the blue when it comes time to sell their cherished investment property. Indeed, CGT often feels like an unjust attack on your profits. Nevertheless, knowing how capital gains tax is calculated, and how to reduce the potential amount of CGT when selling your investment property, might just leave you with a bigger grin on your face and a larger portion of your capital gains.

27/05/2022

More than half of Australians ‘fearful’ at tax time

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.

27/05/2022

How to use MyTax and maximise your return this year!

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.

26/05/2022

Top 5 reasons to utilise technology to manage your tax return

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.

26/05/2022

How to avoid being the subject of a dreaded ATO audit

You’ve read it in the news. You’ve heard people talking about it. Those in the know urge you not to dismiss it. Being the subject of an ATO audit is not to be dismissed as a trivial matter. It can and does happen.

19/05/2022

Let’s focus on car claims this upcoming tax season for a moment

This year, the ATO is focusing on two specific areas in relation to car claims. The first is ensuring that taxpayers are only claiming the work-related portion of their car expenses. The second is making sure that taxpayers are not claiming private expenses as work-related expenses.

18/05/2022

New data shows cost of living savings are top of mind this tax season

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.

12/05/2022

How to maximise your tax return using myTax

When it comes to tax time, only around one in four Aussies choose to lodge their own tax return. Because the ATO receives around 10 million tax returns every year, that means 7.5 million people don’t trust their own ability when it comes to lodging the best tax return possible.

05/05/2022

What’s on the ATO hitlist in 2022? Car claims!

If you use your car for both work and private purposes, you can only claim the percentage of car expenses that relate to work. For example, if you travel 100 km in a day and 50 km of that is for work, you can only claim 50% of your car expenses.

04/05/2022

Tax News and Updates

Secrets from a Qld Tax Specialist: The top 5 tax tips for Property Investors

MYOB vs TaxTank

Property investor tax returns just got a whole lot easier, better and less expensive

A tax expert’s 5 top tips to maximise what you get back this tax time

How to avoid tax time stress and not miss a deduction

Xero vs TaxTank

Doing your own tax return is a key to financial success

Zoho vs TaxTank

Top 3 tax time tips for Property Investors

The affordable cloud-based tax software every property investor should have

Prospect of market crash polarising amongst Aussie property investors

Is the ATO’s move towards automation impacting property investor loyalty?

Over half of Aussie property investors are concerned about rising interest rates

Work-from-home tax deductions top of mind as ATO cracks down

Investment property deductions: How to pay less tax and turn more profit from your investment

Maximise your tax return in 2022

Preparing early can help maximise your MyTax tax return

QuickBooks vs TaxTank

Deductions for property investors: What not to forget this year

myprosperity vs TaxTank

How to keep your tax receipts organised so you claim every deduction

Thinking about selling? Capital Gains Tax (CGT) explained

More than half of Australians ‘fearful’ at tax time

How to use MyTax and maximise your return this year!

Top 5 reasons to utilise technology to manage your tax return

How to avoid being the subject of a dreaded ATO audit

Let’s focus on car claims this upcoming tax season for a moment

New data shows cost of living savings are top of mind this tax season

How to maximise your tax return using myTax

What’s on the ATO hitlist in 2022? Car claims!

AI Tax Agents and AI Tax Returns: Should You Trust AI With Your Tax?

Is Your Accountant Helping You Understand Tax Position?

Why Tax Planning Still Matters in a World of MyTax and Pre-Fill Data

Tax News and Updates

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