Understanding Australia Taxation and Tax Returns with Agok Takpiny

With the end of the financial year (Monday June 30), taxpayers will need to start lodging their annual returns. But, there are a few changes taxpayers will need to look out for this year. Whether you prepare your return alone, with family members, or with the help of a tax specialist who can crunch the numbers for you, it's important to get the process right. This interview with Agok Takpiny will help you to understand some of the challenges or documents that will be necessary for you.

Tax returns are detailed explanations of total income earned in the financial year ending on June the 30th - and any work-related expenses incurred. All individuals should already have a Tax File Number. For individuals, tax is payable on salary and wages, or any investment or other income, after they pass the recently changed threshold of 18-thousand and two-hundred dollars.