If you are working in Australia for earning money. And you need to pay a tax for that earning. There are some tips to be available for reducing that tax also. As per the government rules, the amount of tax you pay is calculated as a percentage. If you receive money from any investments or other sources like government payments are also an addition to your salary and also you have to pay tax for all that earnings. You may be able to claim deduction for any product, when time to submit your tax return. This refund is not given by the Australian Taxation Office (ATO), but fairly that your taxable income. That is a proportion of your income that you required to pay a tax is reduced by the amount of the deductions. By claiming tax offsets, you may also be designated to further decrease your tax payable. And this is the top of your deductions. There are five ways to easily reduce your tax bill. They are,
• Claim up to $300 with no receipts.
• Take advantage of all deductions available.
• Claim any gifts or donations to charity.
• Take out private health insurance