Tax
Understand your tax obligations from lodging your tax return and claiming deductions to superannuation, capital gains, GST, and what to do when you owe money to the tax office.
The GST registration threshold in Australia is currently $75,000 for most businesses and $150,000 for non-profit organisations. While these figures are generally stable, it's important to confirm the exact threshold with the ATO for 2026 closer to the date, as regulations can change.
The Low Income Tax Offset (LITO) reduces income tax for low-income earners in Australia. For the 2023-24 income year, the maximum offset is $700, phasing out at higher incomes. Details for 2026 will depend on future government legislation and budgets.
Yes, you can claim a Medicare levy exemption if you are an Australian resident not entitled to Medicare benefits. This typically applies to certain temporary residents, members of the armed forces, or those with specific Department of Veterans' Affairs (DVA) entitlements.
GST (Goods and Services Tax) in Australia is a 10% broad-based consumption tax added to most goods, services, and other items sold. Businesses registered for GST collect this tax from customers and pass it on to the Australian Taxation Office (ATO).
The tax-free threshold for 2026 in Australia is not yet legislated. For the current financial year, the tax-free threshold for Australian residents is $18,200, meaning you generally don't pay income tax on earnings up to this amount.
The First Home Owner Grant (FHOG) in Tasmania is currently $30,000. While the 2026 amount is subject to government review and budget decisions, it is expected to remain at this level unless formally changed.
Yes, you can claim education and training expenses on your Australian tax return if they directly relate to your current job, maintain or improve your skills, or are likely to increase your income in your current employment.
Yes, the traditional paper "Payment Summary" in Australia has largely been replaced by "Income Statements" through Single Touch Payroll (STP). These statements detail your earnings and tax withheld for a financial year.
Yes, you can claim a wide range of expenses incurred in earning rental income from your property in Australia. These include interest on loans, property management fees, repairs, maintenance, council rates, insurance, and depreciation.
Yes, you can claim a tax deduction for union fees in Australia, provided the fees relate directly to your employment and are paid to a registered trade union or professional association. You must have paid the fees yourself.
The tax treatment of a super lump sum withdrawal depends on your age, whether you've reached your preservation age, and the components (tax-free, taxed, untaxed) within your superannuation fund.
The Child Care Subsidy (CCS) is an Australian Government payment to help families with the cost of approved child care. It is generally not considered taxable income.
Yes, South Australia offers a stamp duty exemption for first home buyers purchasing *new homes* from 7 March 2024. It applies to properties up to $650,000, with a concessional rate for new homes valued between $650,000 and $700,000.
To lodge your Australian tax return for the 2025-26 financial year, you can use the Australian Taxation Office's (ATO) online service myTax, engage a registered tax agent, or submit a paper form. Most individuals use myTax, which pre-fills much of your information.
A novated lease is a three-way agreement for car financing between an employee, employer, and financier. It allows you to salary sacrifice car payments and running costs from your pre-tax salary, which is then subject to Fringe Benefits Tax (FBT) for the employer.
Deductible Gift Recipient (DGR) status allows certain Australian organizations to receive tax-deductible gifts or donations. Donors can claim these donations as deductions on their income tax returns, encouraging charitable giving to approved entities for public benefit.
No, you generally do not have to pay the Medicare Levy Surcharge if you have appropriate private patient hospital cover. This surcharge applies to higher-income earners without qualifying private health insurance to encourage its uptake and reduce pressure on the public healthcare system.
Yes, you can generally claim a tax deduction for fees paid to a registered tax agent for preparing and lodging your tax return and other tax-related matters in Australia.
The exact payroll tax threshold for Queensland in 2026 is not yet announced. It is typically determined closer to the financial year by the Queensland Government. The current annual payroll tax threshold in Queensland is $1.3 million.
The amount of tax you get back on your 2026 tax return depends entirely on your individual income, deductions, and tax offsets. It is calculated based on how much tax you've overpaid throughout the financial year.
Stamp duty in Victoria for 2026 is currently calculated on the dutiable value using a progressive scale, but specific rates and thresholds are subject to future legislative changes. No definitive 2026 figures are available yet.
The Private Health Insurance Lifetime Health Cover (LHC) loading is an Australian Government initiative that adds a 2% penalty to your hospital insurance premium for every year you delay getting cover after your 31st birthday.
Yes, genuine redundancy payments in Australia are generally taxable, but include a tax-free component up to a certain limit based on your years of service. Amounts exceeding this are taxed as an Employment Termination Payment (ETP).
Yes, you can claim work-related car expenses on your Australian tax return. This is permissible for business trips, client visits, or transporting equipment, using either the logbook or cents per kilometre method, provided you keep adequate records.
You can claim the Seniors and Pensioners Tax Offset (SAPTO) in Australia if you meet specific age, residency, and income tests, and receive certain government pensions or allowances. It reduces the amount of tax you need to pay.
A non-resident for tax purposes in Australia is someone who does not satisfy the Australian tax residency tests. This generally means they are only taxed on income sourced in Australia and cannot claim the tax-free threshold or most tax offsets.
You claim franking credits on your Australian tax return by reporting all franked dividends and including the franking credit amount in your assessable income. This credit then reduces your tax payable, and you may receive a refund if your tax liability is less than the credits.
A Double Tax Agreement (DTA) in Australia is an international treaty that prevents individuals and businesses from being taxed twice on the same income in two different countries. It allocates taxing rights between Australia and its treaty partners, often reducing or exempting certain income from tax.
You may be able to access your superannuation early on compassionate grounds in Australia for specific expenses, including medical treatment, palliative care, funeral costs, mortgage assistance, or home modifications for severe disability. Strict conditions apply, and approval is granted by the ATO.
Yes, you can claim sunscreen and sunglasses on your Australian tax return if you are exposed to the sun while performing your work duties and these items are used to protect you from sun-related injury or illness.