The start of the financial year brings with it an important decision for salaried employees—which income tax regime to choose ...

Most of the time, you'll probably find that any given tax credit is "nonrefundable," meaning that it can only decrease your ...

Labor has proposed a new instant $1,000 deduction come tax time if re-elected. But what do the experts think about it?

Australians could soon be able to claim up to $1,000 in work-related expenses on their tax without a receipt. But the peak accountancy group is worried.

Since the Tax Cuts and Jobs Act of 2017, most union members can't claim a deduction for their dues. Find out if you're ...

These two tax terms are probably the ones my clients confuse most often. Think of a tax credit as a gift card applied to your ...

The older tax regime offers considerable flexibility for taxpayers by enabling them to leverage available claims of ...

Individual taxpayers can claim a wide variety of deductions on their federal taxes. "The basic rules of deductions start by ...

In the proposed new tax regime, you get tax relaxation on the employer contribution. The maximum relaxation is up to 14 per cent of your basic salary. At a Rs 15.60 lakh salary package, if your basic ...

Not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly ...