HELP/HECS Debt Indexation - 2024 Budget Changes

The Australian Government has unveiled a significant initiative aimed at reducing student debt burdens for over three million Australians with HELP/HECS debt. This move is part of the upcoming Federal Budget and is set to wipe out approximately $3 billion in student debt.

May 7, 2024

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Australia's Revised Stage 3 Tax Cuts: Inclusive Relief Across Income Brackets

Australia's Prime Minister, Anthony Albanese, recently unveiled significant changes to the stage 3 tax cuts, marking a policy shift. The government plans to halve tax cuts for the highest earners, redirecting the funds to deliver a $804 tax cut across the board. Jump to Poll Results

Jan 26, 2024

working from home setup

Working From Home Expenses

If you work from home, whether in hybrid arrangements or exclusively, you have the right to claim working-from-home expenses when filing your tax return. This covers a range of essentials such as stationery, energy costs, office equipment, and more. Eligibility to claim To be eligible for claiming...

Aug 15, 2023

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Private Health Insurance Tax Offset

In Australia, maintaining good health isn't just a wise choice for your well-being – it can also impact your financial bottom line. The Private Health Insurance Tax Offset is a unique avenue that rewards individuals and families for prioritizing their healthcare needs.

Aug 11, 2023

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Medicare Levy & Surcharge

The Medicare Levy is a compulsory tax in Australia that helps fund the country's public healthcare system, known as Medicare. Medicare provides essential healthcare services and benefits to Australian residents, including access to medical treatments, doctor visits, hospital care, and certain...

Aug 9, 2023

Australian dollars on tax forms

Low Income Tax Offset

The low income tax offset (LITO) is a tax offset that reduces the amount of tax you pay if you have a taxable income of less than $66,667. The amount of the LITO you can claim depends on your taxable income. In 2023, the Low Income Tax Offset gives you up to $700 back if you earn less than $37,500...

Aug 8, 2023