Personal Loans

Many banks won’t allow borrowers to use a personal loan to pay tax debts. However, it may be possible to get a loan to help cover your other expenses while you concentrate on repaying what you owe to the Australian Taxation Office (ATO).

Mark Bristow -

21 Dec, 2023 -

3 min read

Personal Loans

Some lenders may have a more intense process of verification, but overall, most lenders will ask for the following documents...

Alex Ritchie -

04 Aug, 2017 -

2 min read

Home Loans

One of the biggest benefits of investing in property, as opposed to living in the property, are the potential tax benefits. Understanding the potential tax deductions available for your investment property may help you to maximise your returns.

Alex Ritchie -

01 Nov, 2023 -

4 min read

Home Loans

You may not think of houses as depreciating in value – after all, don’t house prices keep going up and up? But property investors know that houses and apartments also experience wear and tear over time, which requires upkeep and maintenance. While this depreciation can eat into the rental yield from an investment property, the costs can often be claimed as an expense on your taxes.

Mark Bristow -

07 Nov, 2023 -

3 min read

Home Loans

For property investors, understanding what home repairs, maintenance or improvements are tax deductible is crucial come tax time. But it’s not uncommon for investors to make simple mistakes when determining what can or cannot be lodged as a deduction.

Alex Ritchie -

25 Mar, 2022 -

4 min read

Superannuation

If your employer isn’t contributing to your super fund as required, you can report them to the Australia Taxation Office.

Jodie Humphries -

29 Jan, 2021 -

4 min read

Superannuation

Employers required to make superannuation guarantee contributions should ensure payments are received by the super fund every quarter by the specified due date. 

Jodie Humphries -

27 Jan, 2021 -

4 min read

Superannuation

Australian super laws require SMSFs to apply for an ABN. But before you set that up, you must first ensure your SMSF complies with all ATO regulations.

Jodie Humphries -

09 Jan, 2023 -

4 min read

Credit Cards

If you owe money to the Australian Tax Office, or if you’re a sole trader or self-employed, you may be wondering if you can pay your taxes with your credit card.

Alex Ritchie -

30 Jul, 2020 -

5 min read

Credit Cards

A business credit card is specifically designed for work or business spending. Discover the benefits and disadvantages of using a business credit card.

Vidhu Bajaj -

20 Feb, 2023 -

7 min read

Credit Cards

Paying your bills online with a credit card depends on various factors, including your credit card provider, the type of bill, and the payment options provided by the merchant.

Vidhu Bajaj -

14 Dec, 2022 -

4 min read

Savings Accounts

There is around $17 billion in lost superannuation accounts and some of it could be yours.

Laine Gordon -

22 Oct, 2012 -

3 min read

Savings Accounts

You need to add the interest earned from your savings account to the income you declare on your tax return and pay tax on the total.

Jodie Humphries -

16 Feb, 2021 -

4 min read

Savings Accounts

If you earn interest on your savings, it may be taxable, just like your wages. Your bank may withhold - or deduct - tax when paying out your interest.

Jodie Humphries -

29 Jan, 2021 -

5 min read

Term Deposits

Just like your regular income, the interest you earn on term deposits is taxable. You should pay tax on any interest that you have received within the current financial year. For example, if you receive monthly interest payments, these payments should be claimed on your tax return. However, if your term deposit is longer than one year and you will only receive interest at maturity, then you will pay tax on your interest in the year that you receive it. 

Mark Bristow -

14 Oct, 2022 -

3 min read

Term Deposits

The tax you pay on a profit generated by a term deposit is not classified as capital gains tax. Interest earned on a term deposit is considered income though and would need to be included in your annual income tax return.

Alex Ritchie -

09 Nov, 2022 -

3 min read

Term Deposits

How do you lose $13 billion? Quite easily it would seem, if Australia's "lost" superannuation is anything to go by.

Laine Gordon -

16 Dec, 2011 -

3 min read

Bank Accounts

You may have heard stories of Centrelink accessing people’s bank accounts to check on them if fraud is suspected, but is this something it can actually do? 

Alex Ritchie -

16 Nov, 2022 -

3 min read

Cryptocurrency

It’s legal to buy, sell and hold cryptocurrency in Australia. Coins are treated as taxable assets. You'll need to keep transaction records and declare your capital gains and losses. It's helpful to understand how and when crypto is taxed and this guide will explain everything you need to know.

Peter Terlato -

07 Oct, 2022 -

7 min read

Cryptocurrency

If you’ve transacted with NFTs in any way - bought, sold, gifted, traded, exchanged for cryptocurrency - you must declare all transactions and any capital gains or losses as part of your income tax return.

Peter Terlato -

17 Jan, 2023 -

5 min read

Home Insurance

Renting out a room in your home can be beneficial in a number of ways - it can help you earn extra income to put towards household bills or mortgage payments, and it can even be a way to make use of a space that’s sitting dormant. That said, if you are considering becoming a landlord, even on a small scale, then it’s important to understand the legal requirements and the workings of the rental market, as well as how renting out a room could potentially affect your home and contents insurance. 

Mark Bristow -

09 Feb, 2024 -

5 min read

Home Insurance

In most instances, you cannot claim home insurance as an expense on your taxes, because homes are used for personal purposes. However, according to the Australian Taxation Office (ATO), you may claim some portion of the home insurance expense if you use your residence to run your home-based business.

Mark Bristow -

16 Dec, 2022 -

4 min read

Car Loans

Buying a car can be a major financial commitment, so it makes sense to check how this purchase could influence the tax you pay. Depending on your financial situation and how you plan to use the car, there may be several strategies available to claim tax deductions on your car purchase. It’s important to compare the available options to work out which one may be the most tax-effective choice for you.

Mark Bristow -

05 Oct, 2022 -

4 min read

Car Loans

A salary sacrifice car loan is simply another term for a novated lease, in which you purchase a vehicle using your pre-tax salary. Car salary sacrifice loans are essentially three-way contracts.

Alex Ritchie -

20 Nov, 2023 -

5 min read

Car Loans

You may get tax deductions on the interest and depreciation on some car loans, provided you’re using the car for business purposes.

Jodie Humphries -

15 Mar, 2021 -

4 min read

Investment Funds

Franking credits, also known as imputation credits, are a tax credit for investors in shares. Franking credits stop company profits being taxed twice.

Nick Bendel -

23 Aug, 2017 -

2 min read

Investment Funds

Self-managed super funds are available for people who opt to manage their superannuation themselves as opposed to a superannuation company.

RateCity -

25 Oct, 2010 -

2 min read

Energy

If you work from home, you could claim deductions against gas and electricity used for heating, cooling and lighting. But how much gas and electricity can you claim on tax?

Jodie Humphries -

13 May, 2021 -

4 min read