Congratulations on your pay rise! Commiserations on your resulting higher tax bracket. Find useful information here on how to avoid the consequences of income tax bracket creep so that you can actually feel the benefit of your salary increase.

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You earn more money; you pay more tax. So far, so fair.

But what’s not so fair happens when your wage rise bumps your earnings into a higher tax bracket, even though your pay increase may only be in line with inflation. This is known as ‘bracket creep’, and the combination of inflation and a higher tax rate can mean you have less purchasing power than before your pay rise.

However, you can avoid bracket creep by putting your earnings to work in a way that means they won’t be consumed by tax. Here’s how:

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With the range of technology and software available today, it's become easier than ever to work from home. Employees can efficiently complete calls using teleconferencing software, many collaboration tools are now cloud-based, and work devices, including laptops and tablets, are light and portable.
If you've been working from home, you've likely also set up a dedicated work area, and you're using your own electricity and resources to power your workday. But which of these items can you claim in your next tax return to ensure you maximise your return?

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This article outlines the tax savings to be made by prepaying the interest on investment loans. It uses a case study to better explain and encourages your readers to prepare for this well in advance of June 30.

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Most investors and business owners are aware that the interest paid on an investment loan is generally tax deductible. These deductions can be maximised by prepaying the interest on the loan.

The advantages could be considerable as the following example shows:

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Anyone who has completed their own tax return will know that the tax office treats different types of income differently. Bank interest is recorded in one section, dividends from shares in another and managed fund distributions somewhere else. And unless you are taking a pension or lump sum from your super, you don’t need to include your earnings on those funds at all.

The most common tax benefits are:

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This article provides a short checklist of some of the key deductions and superannuation contributions to make the most of this financial year.

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When it comes to getting the most (money) from your annual tax return, there is usually a lot to think about, so we’ve identified a few options that could open the door to some opportunities to save on tax.  The key here is to plan ahead.

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This article explains different options to minimise tax with a focus on investing, superannuation and insurance. Good to send to clients to prompt action prior to June 30.

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As June 30 fast approaches, there is still time to consider the strategies available to you this financial year to build your wealth, some of which are discussed below.

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This short article describes some good tax-effective strategies that can be implemented prior to 30 June of the current year, plus those that can be implemented in the following financial year. It’s great to use as an annual reminder coming up to EOFY.

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The end of the tax year is edging closer. If you haven’t planned how you will maximise your income and save some tax, take note!

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A prompt for clients to get their tax planning ready for June 30 in advance instead of leaving it to the last minute. A good article for your summer newsletter edition.

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Tax planning is often viewed in a contradictory way – a last minute dash to arrange reduction of the year’s tax bill or maximise the refund. Why not take the opportunity to do something different this time... like start planning now!

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