Individual

5 things to know for your 2020 tax return

This year has been difficult for many due to COVID-19; and there are some significant changes this tax time as a result. So here is a list of 5 important things you need to know for your 2020 tax return to prepare and consider before...

Work from home tax deductions during COVID-19

Due to COVID-19, your working arrangements may have changed. If you have been working from home, you may have expenses you can claim a tax deduction. Tracking these expenses can be challenging, so from 1 March to 30 June 2020, the ATO has introduced a temporary...

Planning your budget

A budget allows you to plan for how you’ll spend and/or save your money each period and also keep track of your spending patterns. Though making a budget may not sound like the most exciting activity, it’s important for keeping your finances in order and...

5 financial lessons we should learn from COVID-19

The COVID-19 pandemic has had unprecedented impacts on everyone’s lives. We are seeing an extended period of economic and social uncertainty, and disruption lies ahead. Despite the Government’s economic support package, many Australians are losing their jobs and struggling financially. Managing your money is more than...

Save Tax – Opportunities with Superannuation for 2020

When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know, there are also some excellent tax benefits you can take advantage of right...

Child Care and Early Childhood Education Relief Package

On 2 April 2020, the Australian Government announced the new Early Childhood Education and Care Relief Package. From Monday 6 April 2020 weekly payments will be made directly to early childhood education and care services in lieu of the Child Care Subsidy and the Additional Child Care...

Updated: The Government’s second economic stimulus package

On 22 March the Government announced a second set of economic responses which, combined with the previous actions, total $189 billion across the forward estimates. The package provides timely support to workers, households and businesses through a difficult time in the light of the broader...

The Australian Government’s economic response to coronavirus

The Coronavirus outbreak not only affects people’s health and the health systems, it is also having significant economic implications. The Australian economy is already feeling the effects of the global Coronavirus outbreak. Tourist and student arrivals have been significantly lower than they were in late 2019,...

SMS scam – tax refund notification

The ATO has alerted taxpayers to another scam where messages are texted to people asking them to click on a link and provide personal identifying information to receive a refund. To make the messages seem more legitimate, scammers are using technology that causes them to...