Car Loans

Find out how much stamp duty do you need to pay on your car in different Australian states.

Vidhu Bajaj -

16 Apr, 2024 -

10 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

When the term of a novated lease ends, you can choose to own the car by making a balloon payment. You can also refinance the novated lease and potentially save on taxes.

Jodie Humphries -

23 Jul, 2021 -

3 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

Home Insurance

Homeowners and would-be buyers should familiarise themselves with what exactly is covered under strata insurance to mitigate the risk of gaps in your personal insurance coverage.

Alex Ritchie -

25 Oct, 2023 -

3 min read

Credit Score

Is there such a thing as 'good debt' and what could it mean for your financial future?

Mark Bristow -

16 Feb, 2024 -

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

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

Negative gearing refers to when investors can claim a tax deduction when their investments make a loss. While negative gearing offers several potential benefits, there are also risks involved.

Vidhu Bajaj -

24 May, 2023 -

6 min read

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

The interest you pay on personal loans are usually not tax-deductible, but they may be in some cases. It’s important to look at how the loan is spent.

Jodie Humphries -

27 Dec, 2020 -

3 min read

Savings Accounts

In 2010 the Federal Budget announced that from July 1, 2011 new tax breaks for savers would be introduced. But it was never rolled out and in 2012 the government did a backflip, much to the ire of the banks, and withdrew the tax break.

RateCity -

08 Jul, 2010 -

1 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

Every Australian is lumped with a tax on savings they deposit into a bank. Tax must be paid on any interest earned, not the amount deposited.

RateCity -

23 Oct, 2009 -

1 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

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

Superannuation

It is possible to use the money in your superannuation fund to help cover the cost of your mortgage in certain circumstances, such as if you’re retiring or are in financial hardship. However, accessing your super fund early can make a big difference to your retirement lifestyle. 

Mark Bristow -

21 Jul, 2023 -

4 min read

Superannuation

The tax due on your super depends on factors like how much you earn and whether the money has already been taxed. This explainer may help clarify the rules.

Jodie Humphries -

11 Jul, 2022 -

3 min read

Superannuation

By rolling over super spread over several funds and consolidating them into a single account, you may save on fees and taxes.

Alex Ritchie -

15 Mar, 2021 -

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

Getting a business credit card can be easier than a personal credit card. But can you put personal expenses on a business credit card?

Vidhu Bajaj -

28 Aug, 2023 -

8 min read

Credit Cards

According to the old saying, death and taxes are the only certainties in life. We can probably add credit cards to that list _- from online shopping to liberating us from the burden of carrying cash, it would be impossible to live a hassle-free lifestyle without a bit of plastic.

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

Term Deposits

A term deposit falls under the category of a financial asset, specifically a cash and cash equivalent asset. It's a form of investment that you own, and it holds monetary value.

Peter Terlato -

02 Nov, 2023 -

4 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

Maximise your tax return this financial year

Laine Gordon -

02 Jun, 2011 -

3 min read

Car Insurance

Can you beat the carbon tax with car insurance?

Laine Gordon -

13 Dec, 2011 -

3 min read

Car Insurance

Dealers or individuals who import luxury cars to Australia need to pay luxury car tax. Find out how this is calculated, when you may be liable to pay it, and when it is exempted.

Jodie Humphries -

22 Sep, 2022 -

3 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

Bank Accounts

The pink tax refers to the phenomenon of gendered pricing. That is for items targeted or marketed towards women having a higher cost than comparable products targeted towards men. And it is still a common occurrence in Australia.

Alex Ritchie -

08 Mar, 2022 -

5 min read