The Australian Taxation Office (ATO) has introduced a new feature called “verify call” in its mobile app to help taxpayers stay safe from scam calls. With scam activity increasing, especially during tax season, this feature gives individuals a quick and simple way to check if a call claiming to be from the ATO is actually legitimate. In practice, if you receive a call from someone saying they are from the ATO, you can open the app, log in, and tap the “verify call” option. Wi

On 12 May 2026, as part of the 2026–27 Federal Budget, the Government announced it will introduce the $1,000 instant tax deduction. This measure is not yet law. This means you may be able to claim $1,000 as a tax deduction without needing to list all your work expenses. If this passes, it is expected to start from the 2027 financial year. For example, if your tax rate is 30%, a $1,000 deduction does not give you $1,000 back. Instead, it reduces your taxable income by $1,000,

For an individual (the “Taxpayer”), tax return deadline depends on whether they engage a tax agent service or lodge their own tax return. If the taxpayer lodge their own tax return, the due date is 31 October. However, if the taxpayer engages with registered tax agent and being on appointed them prior to 31 October, the taxpayer will move up their due date to 15 May the following year. However, if the taxpayer has an overdue tax return in the prior year, the due date for th

Penting untuk mengetahui bahwa sebagian besar institusi perbankan tidak langsung melaporkan penghasilan bunga ke Australian Taxation Office (ATO) pada awal tahun keuangan baru (1 Juli). Akibatnya, penghasilan bunga Anda mungkin belum muncul di data pre-fill ATO saat Anda mulai menyiapkan pelaporan pajak di awal musim pelaporan. Namun, untuk menghindari keterlambatan yang tidak perlu dan agar dapat menyiapkan pelaporan pajak lebih awal, sebagian besar bank menyediakan fasilita

It is important to note that the majority of banking institutions do not immediately report interest income to the Australian Taxation Office (ATO) at the beginning of the new financial year (1 July). As a result, your bank interest may not yet appear in the ATO prefill data when preparing your tax return early in the season. However, to avoid unnecessary delays and to prepare your tax return earlier, most banks provide the ability for customers to download their own interest

We all know that during and after COVID-19, ATO improved its system digitally for audit, security, and privacy purposes. However, I will...

The Government has confirmed the tax cut starting 1 July 2024 (i.e. 2025 financial year). The idea is to provide more cashflow for the...

Welcome to our Referral Credit Reward Program 💰 AY Tax and Financial is excited to introduce this program for our valued and loyal clients. This program is ongoing and available to all clients. Referral Credit Reward ("RCR") The RCR structured as follows: Number of New Referrals RCR Amount (in accumulation) First (1st) $10 Second (2nd) $20 Third (3rd) $40 From the fourth (4th) for each new referral $20 How to be eligible in participating: You (the "Referrer") must introduce

The Federal Budget 2023 has ABOLISHED the $1,500 Low Middle Income Tax Offset ("LMITO"). This will be the most significant factor that...

It was a nice gesture from the Federal Government to give out up to $750 each week from Centrelink for most taxpayers that went through a...

The Federal Budget 2022 has introduced a new tax offset. Money will begin hitting Australian bank account within days but this short-term...

You’ve worked hard all year – and have racked up a lot of work expenses. Now that it’s tax time, it’s your chance to claim back some...

With tax time nearly upon us, you might be interested in the following deduction tips, which may help increase the amount of money you...

This year’s annual tax return will be unprecedented for most taxpayers in many ways. With more than 3.5 million people on JobKeeper after...