ATO providing financial education resources for schools

The ATO is helping teachers add tax and super to their classes this year with dedicated educational resources. In partnership with the Australian Curriculum, Assessment and Reporting Authority (ACARA) and the Australian Securities and Investment Commission (ASIC), the ATO has developed resources that align to the Australian Curriculum for students in years seven to 10….

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Deductions against government assistance payments are no longer available

In the 2011-12 Budget the government announced that it would make changes to disallow deductions against government payments. On 27┬áJune 2012 these changes came into effect when the legislation received royal assent. The new law is effective 1┬áJuly 2011 and expenses that relate to meeting the ongoing requirements to receive certain government assistance payments can…

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Govt to close education expense deduction claims

As reported earlier , the High Court ruled in 2010 that receipients of Youth Allowance and certain other benefits that are paid only if the beneficiary is undertaking a course of education are allowed to claim a deduction for the costs of undertaking the course The Australian Government has now released draft amendments to disallow…

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