Christmas giving (tax free!)

The holiday season is a great time to think about giving a little back to those less fortunate than you, and many Australians will make charitable donations. In Australia, charitable donations are tax deductible, which only adds to the incentive to be generous this year. A recent global survey of charitable giving across the world…

Maximising your personal tax return

There are a couple of things that you can do before June 30 to maximise your personal tax return: 1. Spend up on deductible expenses: By prepaying your tax-deductible expenses for the year, you can bring the deduction forward into the current financial year. 3. Charitable donations: If you are considering donating money to charity,…

Bring forward your tax deductions

If you are looking to reduce your tax bill this financial year, it is a good idea to try to bring forward as many deductions as possible. By thinking about tax deductions that you are eligible to make, and spending the money in the current financial year, you can reduce your taxable income. By reducing…

Investing in your super

People often overlook the advantages of making significant concessional contributions to their superannuation. By investing large sums of money inside your super, as opposed to assets outside of your super, you may end up saving a significant amount on your tax bill. Concessional superannuation contributions are voluntary amounts that you contribute from your after-tax income.…