How to get the most out of EOFY

• EOFY Special!
• How to get the most out of EOFY
• Who’s already doing the big bargains?
• End of year tax returns, end of year tax return scammers
• A ‘standard’ deduction? No such thing, ATO warns ahead of tax time

Plus – small business tax tips for 2018

Who’s already doing the big bargains?

• Amazon Australia launched its first end of financial year sale with bargains on a whole range of consumer electronics products, some by 44%.
• Winter can be one of the best times of the year to grab a furniture bargain.

End of year tax returns, end of year tax return scammers

Be on the lookout for tax-related scams ahead of June 30, The Australian Taxation Office says. They mention two myGov scams making the rounds this month – one on email and one through text message, inviting you to click on a link to receive a tax refund. If you receive an email that claims to be from myGov and asks you to click on a link, they say, you can be sure it’s a scam. Delete it immediately.
Details here.

A ‘standard’ deduction? No such thing, ATO warns ahead of tax time

The most common myth that leads to errors being made at tax time, the tax office says, is that people think they are entitled to automatic or standard tax deductions, according to this SMH report. They have some guidance here about what you might or might not be able to claim.

Plus! Small business tax tips for 2018

If you’re a business owner fretting over July 1, the ATO says they’re “committed to supporting small businesses and making it as easy as possible for them to understand and meet their tax obligations at tax time” and they’ve put together a short list of tax time tips to help you have a stress free July, via Smart Company. CPA Australia has also put together some tax tips to help small businesses.