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tax back

I’d Take a Raise Any Day! I’m Just Not Sure if it Comes from the RBA

By | Finance | No Comments

If my boss tells me I’ll be getting a raise soon, no question I’d be all smiles on that day. Heck I’ll still be all smiles if he tells me I’d might get a raise in the future. I’m pretty sure most working Aussie’s would feel the same way too. However, when a “raise” comes from the Reserve Bank of Australia (RBA), I know I should be a little concern to say the least.

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Hate the Cost of Seminars that are Part of Your Profession? Think Again!

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Unlike the daily cost of commuting to work, travel and accommodation costs that are incurred for the purpose of your profession or industry’s seminar and conferences can be reimbursed by the government through your annual tax back. This is probably one of the ways our government rewards us for keeping up to date with the trends of our industry therefore improving the overall professional services that we provide. Not bad a deal at all if you ask me.

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Your work boots could be the Government’s Expense

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That’s right, depending on your occupation, your newly bought working boots might just be on the government’s tab. This is exactly the case if you’re one of them concreters although many might have no clue about it. If your one of the few who has been enjoying these tax backs, you should be proud of yourselves.

Otherwise, worry not about it since most of us working Australians don’t realize all the savings we could get each year thanks to all the tax back we could be allowed to get.

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Computers just might Save You Money

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Sure the government’s $300 cap for a tax back coming from working equipments can’t be able to totally pay for your MacBook Air, but at least you’re assured a tax break for the next 3 years for it. Even better, if you’ve purchased a desktop computer to use for work, you’ll be able to get up to 4 years instead. These are said to be the rule of thumb in depreciating desktop and laptop computers through the decline in value system per the Australian Taxation Office’s “Guide to depreciating assets 2009”.

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