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Definition of Tax Terms H&R Block Australia

WEBSource: ATO. Taxable income and tax figures are applicable for the year 1 July 2020 to 30 June 2021. Medicare levy – This is an amount of money collected in the same way as …

Actived: 6 days ago

URL: https://www.hrblock.com.au/tools/tax-glossary/

What Happens If You Don't Lodge A Tax Return

WEBFirstly, the ATO will issue you a Failure To Lodge (FTL) penalty if your tax return isn't lodged by the due date. This fine is calculated at the rate of one penalty unit for each …

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What is the Medicare Levy Surcharge

WEBWhat is the Medicare Levy Surcharge? Australia's tax system encourages high-income earners to take out private health insurance. It does this by charging a tax supplement …

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A Beginner's Guide to Property Depreciation

WEBBMT can even forward your schedule to your H&R Block accountant directly, saving you time. Property investors who would like to know more about depreciation should contact …

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Salary Sacrifice for Employees: How it Works

WEBThis procedure is called 'Salary Sacrifice' because the employee sacrifices some part of their salary in return for the desired benefits. Packaging needs the agreement of both …

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Medical Professional Tax Return and Deduction Checklist

WEBTalk to H&R Block. Our experienced tax consultants will be able to help. Call 13 23 25 for details or find your nearest office and book an appointment online. Tax Time Checklist. …

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Claiming Tax Deductions for Work Clothing

WEBInstead, for washing, drying and ironing you do yourself, the ATO allows you to use the following amounts to work out your laundry claim: $1 per load (this includes washing, …

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Aged Care Worker Tax Return and Deduction Checklist

WEBCall 13 23 25 for details or find your nearest office and book an appointment online. Tax Time Checklist. Share with your friends. Book an appointment online today. Learn more …

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10 tax deductions you didn't know you could claim

WEBA work briefcase, satchel or backpack should also be claimable. There you have it, 10 tax deductions you didn't know you could claim. If you're still not sure about your eligibility to …

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Tax Implications of Living Away From Home Allowances

WEBA Living Away From Home Allowance is intended to compensate you for expenses incurred whilst you are working away on secondment or on a contract. These expenses include …

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Your handy tax checklist.

WEBIncome Payment Summaries and Income Statements Lump Sum and Termination Payment Summaries Government payment statements, if received Interest income from banks …

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Fringe Benefit Tax

WEBThis means that employees who work for not-for-profit organisations can receive entertainment benefits worth between $2,403.62 and $2,649.99 (depending on whether …

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Understanding How Tax is Calculated in Australia

WEBThe tax rates increase progressively, and you will only pay tax at a rate of 45% on the amount your earn over $180,000. You can view current personal income tax rates and …

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Marriage and Taxes: Tax Implications for Couples in Australia

WEBNormally, you can sell your main residence without CGT. However, spouses are only entitled to one main residence exemption for capital gains tax (CGT) purposes between …

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Can I Claim Tax Deduction on Personal Protective Equipment

WEBLet us take care of you and your tax needs. Book an appointment. Book an appointment online today. You can claim tax deduction for cost of buying and laundry of clothing, …

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Tax Deductions for Personal Trainers and Fitness Instructors

WEBBuying fitness equipment. You can claim an immediate deduction for any work equipment that costs less than $300. If the item costs more than $300, then you can write off the …

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Employee Policies H&R Block Australia

WEBEmployee Policies. Listed in this section are the relevant policies for associates to review prior to electronically signing the Policy Sign Off Sheet and Contract of Employment …

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Guide to Self Managed Super Fund

WEBIn recent years, the growth in SMSFs has been explosive. As at June 2021, tne nearly 600,000 SMSFs in Australia had a combined 1.1 million members, controlling $822 …

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