As an individual taxpayer you can take the following steps right now to ensure the correct amount of tax is being put aside throughout the year:

•  let your employer know if you have a study or training support loan, such as a HECS or HELP debt;
•  check you are only claiming the tax-free threshold from one employer;
•  consider whether the Medicare Levy Surcharge may affect you this financial year (i.e., whether you have the appropriate private health insurance);
•  check your income tier is correct for their private health insurance rebate; and
• consider voluntarily entering PAYG instalments and pre-paying tax throughout the year to avoid a large tax bill at tax time for investment or business income.

If you would like to discuss or implement any of these steps and strategies in more detail, please feel free to contact our office.