We all face a cost getting to work each day, whether we drive, pay for parking, catch the train, or even ride the bus, it all adds up. $10 a day commuting might not seem like much, but when you factor in working a normal 48 weeks in the year, that quickly accumulates to $2,400....
Tax rate between $45,000 – $120,000 has dropped 2.5% from 32.5% to 30% Tax rate between $120,000 – $180,000 has dropped 7.5% from 37% to 30% Tax rate between $180,000 – $200,000 has dropped 15% from 45% to 30% Tax thresholds have always been a part of the tax system in Australia, and the good...
A Tax File Number (TFN) is your personal reference number in the tax and superannuation systems. This unique (usually 9 digit) number is legally required if you are employed in Australia and are above 15 years of age. Your TFN is yours for life, even if you change jobs, name, move interstate of go overseas....
Most people have heard somewhere along the frape vine that having a second job means double the tax payable. The fact of the matter is, your second job wont increase your tax payable , though you’re earning more, which means you will pay more tax. Here’s a few tables to make a but more sense...
Car Expenses Cents per kilometre rate for 2022-2023 Date of effect: 1 July 2022 Up from 72c/km The ATO has registered the Income Tax Assessment – Cents per Kilometre Deduction Rate for Car Expenses Determination 2022. The determination sets the rate of work-related car expense deductions at 78 cents per kilometre for 2022-2023. ...