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Founder of Learn to Trade, Greg Secker’s investment journey began with him working in IT on a trading floor supporting the largest currency trader in London. With no real knowledge of finance and a $5000 gift from his mother, Greg entered the trading game and joins the Nestegg podcast to discuss his journey to success.

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Having previously joined the show to share how he is making a full-time income in only a few hours a week, Greg Morgan also joins host David Stratford to share how Learn to Trade set him on the path toward financial success, and why mindset and positivity is key to success as a trader.

The pair will explain why the current climate is the perfect time to be trading, explain the 5-2-1 rule and why it is so important, and reveal what the best investors are doing to cement their success.

You can keep up to date with what Learn to Trade are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Saturday, 23 November 2019

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Were you disappointed with this year’s tax return?

By Cameron Micallef · November 06 2019

Reading:

Earn

Were you disappointed with this year’s tax return?

By Cameron Micallef
November 06 2019

Reading:

Were you disappointed with this year’s tax return?

By Cameron Micallef · November 06 2019

Reading:

With the federal government publicly spruiking its $1,080 tax rebate, many Australians were understandably expectant of a larger than usual cash windfall.

However, according to tax agents H&R Block, the average size of refunds this year was only a $420 increase: From $2,380 to $2,800.

H&R Block’s director of tax communications, Mark Chapman, said that the low- and middle-income tax offset gives taxpayers earning between $37,001 and $126,000 an additional tax offset of between $255 and $1,080.

But returns this year have been smaller than people expect due to Australia’s complex tax rules leaving taxpayers unsure what they can and can’t claim.

The Prime Minister’s offset announcement did result in a spike of people lodging with myTax, which was up 11 per cent on last year.

As a result, low- and middle-income earners looking to secure a tax return encountered problems, with phone calls rising by 35 per cent this year compared with 25 per cent the year before.

This left many myTax lodgers missing out on valuable tax deductions for things like work-related expenses that they were entitled to, as myTax pre-fills income information but does not pre-fill deductions, which taxpayers need to complete themselves, Mr Chapman said.

He advocated for taxpayers to use tax agents, as they are guided through all the potential deductions they can claim and are less likely to miss out on benefits.

“In short, people who lodged their own tax returns appear to have claimed the tax offset but lost some of the extra refund because they didn’t claim all the deductions they were entitled to,” Mr Chapman concluded.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leveraging their insights to grow your portfolio.