You’ve just started a job. You know you need to pay tax in your income, but you’re not exactly sure that it is or how much you need to pay. Let’s break it down.
You don’t have to be a big income earner or run your own business to claim tax deductions. There are always expenses to be found that you’ve incurred throughout the year that can be claimed – many of which are little known such as legal expenses.
If you’re an Australian sole trader or business, have an Aussie made product and export into foreign markets, the Export Market Development Grant (EMDG) grant may help you grow your business with a much needed cash injection.
Do you earn an income through the personal services you offer? PSI income can have tax implications you should be aware of.
Did you know that many tax deductions are industry specific. If you’re a public servant, what can you claim at tax time?
At tax time, working more than one job can be confusing. What can you claim? How much tax will you have to pay? Will you be penalised? The truth is most people don’t know the answers to these questions. Rest assured though, after five minutes of your time, you’ll know exactly why you’ll need to do.