In this Australian Finance Podcast episode, your hosts Owen Rask and Gemma Mitchell answer your end-of-financial-year tax questions and put Owen to the test with an ETF pop quiz challenge.
They cover:
- How tax works when you’re self-employed
- When and how much tax sole traders need to pay
- The difference between tax deductions and tax offsets
- How spouse super contributions can reduce your tax
- Why some property investors receive huge tax refunds
- Whether PAYG withholding variations can improve your cash flow
- Owen’s ETF guessing challenge using minimal clues
Topics covered
- EOFY tax prep for Australians
- Tax basics for self-employed people
- How taxable income is calculated
- When sole traders pay tax
- PAYG instalments explained
- Tax deductions vs tax offsets
- Common misconceptions about deductions
- Spouse contributions to superannuation
- Super contribution tax offsets
- Negative gearing and tax refunds
- PAYG withholding variations for investors
- Managing cash flow throughout the year
- ETF pop quiz challenge with Owen
- Guessing ETFs from minimal clues
