Words of God

Results for Tax

Kuripot-TIPS # 21 -- How to get $500 from the Australian government on your SUPER

00:28

The government will top up 50 cents for every dollar you contribute after-tax to a maximum of $500 each financial year.


It is called the government co-contribution.

How to qualify:
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- total income is under $51,021 for the 2016-17 financial year
- you make at least one after-tax contribution to your super during the 2016-17 financial year
- 10% or more of your annual income is from eligible employment, running a business or both
- you’re an Australian citizen, permanent resident or a New Zealand citizen working in Australia
- you lodge an income tax return for the 2016-17 financial year (members over 65 must satisfy the work test)
- you’re under 71 years of age at the end of the 2016-17 financial year
- you’ve provided your SUPER provider your TFN
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Speak with your SUPER provider before end of the fiscal year (June) as it is required for the deposit to be received before end of June.
Kuripot-TIPS # 21 -- How to get $500 from the Australian government on your SUPER Kuripot-TIPS # 21 -- How to get $500 from the Australian government on your SUPER Reviewed by on 00:28 Rating: 5

ATO is WATCHING everyone from now on when you file your tax

11:52

This year ATO is not targetting any profession like in the past where they release a list of professions that they target or audit for that fiscal year.
This means everyone can be on the hits list.
ATO’s supercomputer collects transactions and cross referencing your bank accounts, share certificates, Centrelink payments, deductions and a lot more.



You can fill your own tax on your own using "myTax".
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/Lodge-online/


It is ATO online tax filing and it's FREE. "myTax" pre-fills your information.
All you have to do is double check the information, enter any tax deduction and submit once you double check everything you specify.
To help you with your tax deduction, you can use the ATO mobile apps called "myDeductions"


ATO APPs - myDeductions  (available on AppStore/GooglePlay and WindowsStore)
https://www.ato.gov.au/General/Online-services/In-detail/myDeductions/myDeductions/


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The app has many features, some of which allow you to:
- Capture and classify work-related expenses, gifts and donations or the cost of managing tax affairs and record car trips using myDeductions*
- enroll your voiceprint with the ATO. You can then use this to verify your identity when you call us or to log in to our online services for individuals via the app
- use the tax withheld calculator
- check the progress of your return
- search for an Australian business number (ABN) using ABN Lookup
- watch videos, access checklists and visit SMSF assist for other helpful information for SMSF trustees
- perform a quick assessment of the financial position of your small business using the Business performance check
- access many other tools and calculators.
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myDeductions even allows you to take photos of receipts and enter work-related deductions on the fly. It has a built-in GPS tracker to record car trips if you are claiming any car expenses and it feeds the information directly into myTax.

ATO is WATCHING everyone from now on when you file your tax ATO is WATCHING everyone from now on when you file your tax Reviewed by on 11:52 Rating: 5

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