EP 23 - Talking About Tax
More Than Money
English - July 20, 2018 02:25 - 23 minutes - 53.4 MBBusiness Education australia buyingahouse financialadvice financialeducation firsthomebuyer geny goldcoast growingup investing lifeevents Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
On this episode, we are talking about tax. Firstly, why we pay tax. Tax is money that people and businesses pay to the Australian Government. The money we collect helps pay for services including, health, education, defense, roads and railways, social security and other payments from Centrelink.
What income is taxable? Your taxable income is your assessable income minus your tax deductions. Income that is taxable, Income that you must pay tax on includes money from, employment, pensions and annuities, most government payments, investments, capital gains, income from trusts, partnerships or businesses foreign income.
What to do with your tax refund?
Pay Down Debt (Credit Card, Personal or HECS Debt) Build up your emergency savings fund Save it or Invest it Enjoy it - book a holiday*Correction to information discussed in the episode, the Financial year dates are 1 July - 30 June each year.
Full show notes available at www.rossmarais.com/podcast
Episode Sponsor
This episode is brought to you by More Time Financial. A financial planning, money management and financial education company who are on a mission to help young Australians make smarter decisions with their money.
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About Me: Ross Marais
I am a Gen Y Financial Adviser & Lifestyle Planner. CoFounder of More Time Financial. For the past 4 years I have been on a mission to help young Australians make smarter decisions with their money.
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This Episode was created with the assistance of the very talented team at Udeo Media.
In preparing this podcast episode, the contributors have not taken into account any particular person's objectives, financial situation or needs. Before acting on this information, you should consider its relevance to your personal circumstances.