oneclicktax

Could you be Missing out on Dough due to Overdue Tax Returns?

could you be missing out on dough due to overdue tax returns

Most people assume that because they earn below the taxable income threshold of $18,200, they do not need to lodge. ???? ???? ???? *Beep* ???? ???? ???? ❌False! ❌ You would still need to lodge a tax return to the ATO. If you have not lodged your 2019 tax return this year, you have until … Read more Could you be Missing out on Dough due to Overdue Tax Returns?

The Pain of Luxury Cars Inflicted by Tax Laws

Luxury Car Tax Explained

The Australian government first introduce the Luxury Car Tax (LCT) Law on the 1st July 2000 in congruence with the introduction of Goods and Services Tax (GST) and the removal of sales tax. LCT is an amount payable to the federal government inclusive of GST when a car is above a certain threshold. Currently, LCT … Read more The Pain of Luxury Cars Inflicted by Tax Laws

Bigger tax offset for Low to Middle Income Earners in 2019

Low to Middle Income Tax Offset

Good news! The Australian government has just announced a bigger tax offset for this year’s tax refund. If your taxable income falls below $126,000 you will be eligible for some of the low- and middle-income tax offset (LMITO). See how much you will get below: Taxable income LMITO $37,000 or less $255 $37,001 to $48,000 … Read more Bigger tax offset for Low to Middle Income Earners in 2019

Income tax gets lower, fairer: treasurer

Income tax rates for low to middle incomes by increasing rates

People earning low-to-middle incomes will be hardest hit by rising average tax rates over the coming decade, the analysis released by the Parliamentary Budget Office found. But Treasurer Josh Frydenberg says under the government’s tax plan, low and middle income earners are receiving up to $530 in immediate relief each year.”Our personal income tax plan … Read more Income tax gets lower, fairer: treasurer

Tax boss warns outages are ‘a fact of modern life’

ATO to go down due to increased server load is a fact of life

Tax commissioner says businesses need a plan for when the ATO goes down. Tax commissioner Chris Jordan has warned that the technical outages that have caused disruption for businesses are “a fact of modern life” and not going to cease. In the wake of continuing outages at the Australian Tax Office, Mr Jordan warned businesses and … Read more Tax boss warns outages are ‘a fact of modern life’