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When you drive for Uber you are not an employee. You’re a contractor. When you’re not an employee, you have to be careful that your tax affairs are managed correctly. It is suggested for Uber drivers to use a tax agent. Uber partners are independent contractors, so we do not withhold any taxes and partners…

Scams are designed to trick you into paying money or giving out your personal information. ATO constantly alerting for scams happening around. However, how can we know is it a tax scam? I hope this article can give you some ideas.   SMS scam – Tax refund notification Have you ever received a text message…

You need to keep your tax records for five years from when you lodge your tax return in case ATO ask you to substantiate your claims. Records are usually a receipt from the supplier of the goods or services. A receipt must show the name of the supplier, amount of the expense, nature of the…

There are a number of loans available from the Australian Government to help eligible people to complete further training and study. You can get some general information from here. HELP The Higher Education Loan Program (HELP) assists eligible students with their student contribution or tuition fees from: university and other higher education providers approved vocational…

Do you know your sporting clubs might be eligible for income tax exemption? A sporting club will be exempt from income tax and can self assess its exemption in a year of income if it: -is a non-profit society, association or club; -is established for the encouragement of a game, sport or animal racing -is…

What Is A Deceased Estate? A deceased estate is a trust estate from the death of the person. It includes assets such as property, shares, bank deposits, and personal possessions of the person who has passed away. The income received from these assets such as rent, interest and dividends after the date of death is…

Opening a bank account is a great way to introduce children to the concept of saving. If your child’s bank account is earning interest, you need to know how this income is taxed or whether you’ll need to pay tax. The ATO has specific rules about taxation of interest earnings from a child’s bank account. Generally, If your child is under…

Tax invoices are an essential element of Australia’s taxation system, and serve both to collect taxation revenue related to the goods and services on which GST is levied as well as record the credits that are claimable by eligible businesses. A business registered for GST will generally be required to hold a tax invoice for…

Airbnb is one of many examples of the “sharing economy” — connecting buyers (users) and sellers (providers) through a facilitator that usually operates an app or a website. Airbnb acts as this facilitator by allowing individuals, referred to as “hosts”, to rent out a room of their house or their whole house for a short-time…

What are Fuel Tax Credits? Fuel tax credits are credits for the fuel tax (excise or customs duty) that’s included in the price of fuel. Most businesses are entitled to fuel tax credits for fuel used in a number of business activities with the exception for used in aircraft or light vehicles travelling on public…