Queensland $10000 Building Boost - Extended Dates

On Saturday the Queensland Government extended the $10,000 Building Boost (new construction only) until the end of April.

This grant is available to all investors regardless of whether they live in Queensland or not or whether the property is owner-occupyer or investor - ie, it applies to anyone who purchases a new property in the state.

To confirm requirements please follow the QLD Governmet link:  http://boost.treasury.qld.gov.au/

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Car, Truck & Equipment Finance

 Try our NEW finance service - No Financials required!

Finance available for car, truck and equipment purchases - business or private.

If you are a business / ABN holder, you can access our NEW finance product to purchase a car or equipment at low rates and no financials required.

What sets our loan offering apart from the competition is access to specialised Bank & Non-Bank products , allowing us to offer you the Best finance packages at the Lowest Rates.

Apart from GUARANTEED low rate car and equipment loans, we know how to structure loans to optimise tax savings.

Rates as follows:

 

No Financials finance available for ABN holders - fixed 6.59%

Call David or Elizabeth on 07 32083888.

                    or

Online Enquiry

David Maynard
My Tax Zone

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Free Lost $uper $earch

There is approximately $13.6 Billion in lost super.

Have you?

• Changed jobs in the last ten years
• Had more than one job
• Changed address
• Changed names

1 in 2 Australians have unclaimed super

We can help you find your lost super and assist to consolidate all of your accounts into one, easy to manage fund.

Contact our office on 07 32083888 

or 

email: admin@mytaxzone.com.au.


Ask for Christian Tapia.


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Education Tax Refund - FAQ

If you are looking for information on the ATO web site it can be difficuct to find. Here is a link to information on Education Tax refund - Frequently Asked Questions:

==> Education Tax refund - Frequently Asked Questions

It answeres question like:

• who is eligible for Education Tax Refund
• what if the grandparents purchase a computer for ?your kids?
• what is the schooling requirement?
• what are eligible expenses?

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Medicare Levy Surcharge 2011

The Medicare Levy Surcharge of 1% still applies to taxable income.

You are exempt from the surcharge if you have private hospital cover for 365 days. If number of days is less than 365 days the surcharge is portioned on number of days you had private hospital cover (this information is available from the statement issued by the fund).

Where you are not exempt from the Medicare Levy Surcharge, the margin of income applicable to Medicare Levy Surcharge 2011 has changed as follows:

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Education Tax Refund 2011

You can claim the Education Tax Refund (ETR) each financial year for a child who meets the schooling requirement.

You can claim 50% of eligible education expenses up to the maximum amounts. For the 2010–11 financial year, the maximum amounts are:

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Etax Prefill - 2011 Tax App

Many of our clients have encounted problems with the ATO's etax service. That's why we developed our own online tax return app - EzTax.com.au.

Just like etax, our online tax app has built-in checks calculators to help you ensure your return is as accurate as possible. And EzTax returns are usually processed within 14 days.

Our internal systems  allow us to check the ATO pre-fill reports to make sure all income and relevant information is included in your 2011 etax tax return. Pre-filling makes it easier for you to meet your tax obligations and claim your entitlements.

All our clients tell us the same thing - "EzTax.com.au is really easy to use."

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What Tax Records Should I Keep

In order to accurately complete your tax return you need to keep good records. Generally you must keep written evidence for five years. Some examples of records you should keep include:

• payments you received, such as salary, share dividends, pension or bank interest
• tax deductable gifts or donations
• medical expenses
• expenses related to income you received, such as work-related or rental property expenses
• buying or selling assets such as rental properties shares or collectables.

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Study Expense Deductions for Youth Allowance Recipients

A recent High Court decision means you can also claim a deduction for study expenses this year if you received Youth allowance, Austudy or ABSTUDY. See question D4 for more information and our website http://www.ato.gov.au/studyexpensechanges

You are eligible for a deduction for each year you lodged a tax return if:

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Tax Deductions for Newstart and Youth Allowance Recipients

Changes apply from the 2011 tax time for Newstart and youth allowance recipients who were actively seeking paid work.

A recent High Court decision means you can claim deductions this year for expenses you incurred in actively seeking paid work if you received Newstart allowance or were a Youth allowance job seeker. You must have records to support your claim.

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Occupations Targeted by ATO During Tax Time 2011

Statement by Tax Commissioner Michael D'Ascenzo in Media release dated 14 June 2011:

"This year the ATO will be paying close attention to deductions made by people employed as earthmovers, flight attendants, carpenters and joiners (including apprentices and trainees), and real estate employees," Mr D'Ascenzo said.

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Flood Levy for (2011-2012 only)

Who will have to pay the flood levy?

Remember, the temporary Flood levy applies for the 2011-2012 year only.

Individual taxpayers, who have a taxable income over $50,000 in the 2011-12 financial year will have to pay the flood levy. This includes foreign residents who have Australian income.

Note: Certain people affected by natural disasters will not pay the flood levy regardless of whether their taxable income is under or over $50,000. There are special rules to work out who is exempt.

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