30th June marked the end of the financial year 2015-16 which means it
is tax time.
Although there are plenty of things
you’d rather be doing than your tax return, the reality is most of us need to lodge a tax return to show how
much income we have earned and how much tax we need to pay or claim back
from the government.
How much do you know about the tax system in Australia?
- What do these acronyms stand for: ATO, TFN, ABN, GST?
- When is the deadline for lodging your tax return?
- What documents or information do you need to prepare to help you do your tax return?
- What are ‘deductions’? What are examples of allowable deductions you can claim?
- How long are you required to keep your tax records for?
- Do we all pay the same tax rate? What were the tax rates for 2015-16?
Use the search field on this website to find answers to your questions.
Watch this video to find out the benefits of using myTax online service.
