Ep 116. Jacob’s 10+ tax time tips | Expert 2021 tax hacks for PAYG, property, ABN, ETFs & share investors

Episode transcript: click here

About this episode:

June 30 is when the taxman/ATO starts to come knocking! Don’t leave your taxes to chance this year — claim your maximum amount and get a juicy refund.

In this episode of The Australian Finance Podcast, Owen Rask talks to expert tax agent Jacob Fenech, part of the Airtax team, about his top 10 ways to save at tax time.

While we say it’s ’10 ways’ to save, Jacob shares more than 15 ways you might be able to save. Here are the types of tax deductions and perks we covered:

  1. Businesses
  2. Investors in shares/ETFs
  3. Property investors
  4. PAYG employees
  5. Retirees – or those nearing retirement – and those with ‘hobbies’
  6. Sole Traders (ABN holders)
  7. WFH (home office expenses!)
    • Shortcut method: in FY21, the ‘shortcut’/easy way to claim home office expenses increased to 80c per hour. Jacob says this might be good for people who didn’t keep track of all expenses when working from home.
    • Fixed-rate method: this is 52c per hour for certain things, but then it’s flexible for other costs (which means you might be able to claim more!)
  8. Sharing economy / Uber examples / Airtasker / whatever!
  9. Offsets & Franking credits
  10. Plus a few extras for luck!

Take our free financial education courses on Rask Education and join our FB community.

Score $100 off our premium ASX & US share research service, Rask Invest!

Owen, Kate, and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.

Resources:

Rask Education money & finance courses

Please forgive me, I couldn’t help but plug our 5-star (and free) financial education courses in here. I’ve linked a few of my favourites below if you’re keen on taking control of your time and money.

  • LISTENER DISCOUNT: we are offering $100 off all of our premium investment memberships and courses  – use code ‘AFP‘ at checkout and click here to learn more.

Share this episode:

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on whatsapp

The official Sponsor of The Australia Finance Podcast

Rask’s Australian Finance Podcast series is proudly supported by ETF Securities. Click the banner below to learn more about the official supporter of our leading podcast series.

Search finance answers:
Generic filters

Like our podcast? Join our newsletter!

Like our podcast? Join our newsletter.

Our free newsletter makes managing your money or investing for the first time (or the last time) easy as 1-2-3. Join today and we’ll send you our favourite podcasts, online courses, resources, articles and updates this week, plus a weekly update every Sunday morning. Unsubscribe anytime.

arrow-03

Like our podcast?
Join our newsletter!

Our free newsletter makes managing your money or investing for the first time (or the last time) easy as 1-2-3. Join today and we’ll send you our favourite podcasts, online courses, resources, articles and updates this week, plus a weekly update every Sunday morning. Unsubscribe anytime.

Join the short list

Make sure you keep an eye on your email, we will be in touch soon.