Vacant land, no deductions to be allowed for holding vacant land. The building defects saga that’s happening all around Australia has understandably caused public uproar and forced state governments to act. It is unsurprising then that this issue was at the forefront of the Federal government’s attention when it decided to enact an exception to disallowing deductions for holding vacant land.

Genuine redundancy payment qualifying age increases to the age pension age, so even if you’re over 65 you may still be able to receive the payment.

Selling shares, how much capital gains tax will you pay? Did you know that when you sell your shares, the size of your capital gains tax bill is affected by how long you’ve held the shares, and how you offset your capital gains and losses?

Health insurance and tax, should you have health insurance? If you don’t hold private hospital cover – or are thinking about dropping it – make sure you understand the financial consequences. You could be hit with an extra tax surcharge of up to 1.5% or cost yourself extra premiums in future.

Rental property tax deductions, what can we claim? Paying off a loan for an investment property you’ve purchased? The ATO says over-claimed interest is a common error made in rental property expense claims.

Rental property tax deductions, what can we claim? Rental property deductions have many rules, and the ATO is on the lookout for incorrect claims. Some expenses can be deducted immediately, while others will need to be claimed over time. Stay on top of the rules and avoid ATO headaches this tax time.

Insurance in super, the impact of proposed changes, there are new rules on the way that will require young adults and members with low super balances to actively “opt in” to holding insurance in super.

Super opt out choice for high earners with multiple jobs. If you’re a high income-earner with multiple employers, you may be aware of potential traps with compulsory super contributions that can lead to some hefty and unfair penalty taxes – and until now there’s been little anyone can do to avoid the problem.

Capital gains tax and death, it’s not the end of the world. There’s nothing as certain as death and taxes, but tax on death is not so clear. The good news is that when an asset passes to a beneficiary, capital gains tax (CGT) generally does not apply. But down the track when the beneficiary decides to sell that asset, there are many forks in the path.

Clothing deductions, ATO clamping down so be careful. Planning to claim some clothing or laundry expenses this tax time? These deductions are on the ATO’s watch list again this year, and there are many traps for the unwary.

Income Statement replaces Payment Summary. This year there are changes to how many employees access their tax information including their income statement from their employer.

Dealing with the ATO, being a smart taxpayer means knowing what resources are available to you and understanding how the ATO deals with individuals as tax problems arise. Here are three simple things all individuals can do to help keep their tax affairs as stress-free as possible this tax time.

Claim deductions when working and studying part-time. Will you need to buy textbooks for your work-related study, or perhaps invest in a new computer?

Super withdrawal, how much tax is withheld from super? You’ve worked hard for your super, so make sure you access your benefits in the most tax-effective way possible.

Working and studying part-time, course fees deductible? If you go “back to school” the costs can really add up, but the good news is that your course fees may be deductible if the course is sufficiently related to your current employment.