The Mid-Year Money Reset

We’re half way through 2024 & it’s the perfect time to do a mid-year money reset! We chat how to readjust your money goals, tax time tips & hacks to get the most out of EOFY sales.  Disclaimer for claiming your handbag as a tax deduction This applies to eligible bags and cases used for work including a briefcase, laptop bag, satchel, luggage & a handbag in some circumstances. You can claim an immediate deduction for items that cost $300 or less, if you use them more than 50% of the time for a work purpose. If your work handbag is worth $300 or more, you can claim a deduction for the decline in value over the effective life of the item. Please see the ATO website for further information. Disclaimer: Fines for late penalty fees According to the ATO, please note that penalty fees for late tax lodgements will increase from $313 to $330 from 1 July 2024. Reminder: This is NOT financial advice. Please reach out to a tax agent or financial advice for any tips specific to your situation. Please note that terms and conditions and eligibility requirements apply to tax deductions. LINKS & RECEIPTS The average tax refund - H&R Block Deductions you can claim - ATO How to claim a bag/handbag as a tax deduction - ATO Understanding tax deductions - MYOB 12 Commonly Overlooked Tax Deductions - H&R Block Money Diary by Jessica Irvine  Due dates to lodge your tax - ATO What’s the fine if I don’t lodge my tax on time? ⚡CHUCK US A FOLLOW  Follow Two Broke Chicks on Instagram  Follow Two Broke Chicks on TikTok  Join our Broke Chicks Club Facebook Group  🎙️CREDITS  Hosts: Sally McMullen & Alex Hourigan  Studio, editing & production: MIK Made Thanks for having us in your ear holes. We love to be here!