Money

Tax

How to max your tax refund

Get your tax affairs in order before toasting the new financial year.

Making sure you're financially organised is the key to ensuring you maximise your tax return and receive your refund as soon as possible.

Run for health cover before June 30

Only hospital cover counts for avoiding the Medicare Levy Surcharge or Lifetime Health Cover.

Amid the mid-year stocktake sales and car dealership runouts is a notion that it is rather important - to sort out private health insurance before June 30.

Giving clubs change face of philanthropy

Bryony Green and Sarah Wickham, co-founders of Good Mob.

Many people will make spontaneous donations to charity before the end of the financial year, but Bryony Green and others like her will be banding together for more "purposeful and planned" giving.

Accountants using offshore outsourcing

Many Australians are paying a premium for their tax returns but are unaware the work is being outsourced offshore.

Australian consumers are used to the offshore call centre when dealing with telcos. But would you expect your accountant to outsource your tax return to a cheap outfit overseas?

Your checklist for tax time

Calculated result: Work out the best allocation funds to minimise the amount owing.

With just three weeks to go before the end of the financial year, sprinters have limited time to get their financial affairs in order before the taxman comes calling

Time to reduce your tax bill

Given the uncertainty over tax cuts, it might be better for middle and high-income earners to claim more tax deductions ...

​With the end of the tax year looming, now's the time to implement strategies to reduce this year's taxation bills.

$80,000 is anything but average Scott Morrison

Treasurer Scott Morrison addresses the media during a doorstop interview ahead of Budget day.

If Scott Morrison thinks that by offering tax cuts to Australians earning more than $80,000 he is helping average workers, he doesn't know much about what an average worker earns.

Tax benefits for top earners cost $11b

Negative gearing and foreign investment make things tougher for new households, one academic says.

Surgeons, anesthetists, finance managers and lawyers will be the overwhelming beneficiaries of the Turnbull government's decision not to touch negative gearing in the budget, research shows.

Commission backs Labor tax policy to balance budget

Paul McClintock says spending must fall by $2b and revenue must climb by $15b.

A high-powered independent commission has backed Labor's approach to capital gains tax and negative gearing, undercutting prime minister Malcolm Turnbull and treasurer Scott Morrison who say it will "smash" housing prices.

Meet the millionaires who pay no income tax

All but two of the 56 high earners paid no income tax at all.

Paying tax has become optional for 56 of Australia's highest earners. Newly-released tax statistics show each of the 56 paid next to no income tax in 2013–14, not even the Medicare Levy, even though each more than $1 million.