There is a cap on the concessional superannuation contributions you make to your superannuation each financial year. If you contribute over these caps, you may have to pay extra tax. The cap amount and how much extra tax you have to pay may depend on your age, which financial year your contribut.....
Borrowing money to invest is called 'gearing'. If you have borrowed to invest and your making a loss, you are negatively geared. If you are making a profit you are positively geared. Either way, gearing will still cost you money. What is negative gearing? Negative gearing is when you .....
Currently there are 115,000+ renters on Airbnb. You can rent out your house, apartment, a room or sublet your residence/property through the Airbnb app. Any income earned from renting property through Airbnb is assessable. Airbnb hosts are generally treated exactly the same way as anybody else.....
Most people need to lodge an income tax return every year. Having outstanding tax returns can lead to penalties from the ATO. For self-lodging individuals, the deadline to lodge your tax return is currently the 31st October. If you used an accountant/tax agent to submit your previous tax return.....
60% of working Australians earn money from sharing economy services. The sharing economy allows people to use the internet to rent out their property, resources, time or skills. The most common being Uber, UberEats, Airbnb and Airtasker. What a lot of people are unaware of is the income derived.....
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