Accounting & Taxation FAQs
For a copy of the Express Tax Form, click here.
There are many deductions that you can claim for expenses incurred while performing your job but, to support your claim, you need to make sure you have the receipts to prove the purchase or, if this is not possible, you will have to keep written records, such as log books or expense diaries. Work-related expenses you may be able to claim as tax deductions vary depending on your occupation, although guides can be found on ATO website.
You cannot claim the tax free threshold of $6,000 from more than one employer at a time. It is better to claim it from your main employer. You will pay a little higher rate of tax on the second job but this should ensure that you have paid enough tax on all of your wages for the year.
A broker can give you access to a large range of lenders and their products. This means you are far more likely to get the home loan that's best for your needs. Brokers also fill in most of the paperwork – a big saving in time and hassle. Managing your home loan application is another big advantage. A broker will follow up with lenders and settlement agents to make sure that financing occurs at the right time. A broker can also advise you how to get any stamp duty relief or first home buyer grants for which you may be eligible.
The lender will send you all the documentation and statements directly. You can contact your lender about your home loan at any time, though you may find it more convenient to go through your broker.
Brokers provide access to home loans from all the main banks, building societies and other lenders. In total, they can offer a range of 800 products from more than 30 lenders.
No, the costs are the same. From the bank's perspective, whether it pays a broker or an employee, either way there is a cost associated with selling a home loan.
No, AFG accredited brokers are paid a commission by the lender that provides you with a home loan.
No, this is all handled by the broker for you.