Chances are you're making at least 3 costly tax mistakes right now and no one ever taught you how to avoid them.The system is confusing on purpose.
Between HECS, credit cards, Afterpay and all the rules around what you can and can't claim, it's no wonder so many people feel like they're always behind.
While it's easy to just and everything to the ATO and hope for a refund, that's how you keep leaving money on the table.But here's the thing - once you understand how tax actually works in Australia right now, you can start making smarter moves with your money.
Moves that help you keep more of it, boost your borrowing power and actually set yourself up for the future.
In this episode, Australian tax expert Julian Mauro explains the money lessons school don't teach. From legal deductions you didn't know about, to how HECS, credit cards and everyday habits can cost you thousands.
We cover:
- The strangest Australian tax deductions you've never heard of
- How much you actually need to earn to buy a home
- Why young Aussies struggle to get into the property market
- How to boost your borrowing power without earning more
- The truth about the ATO and modern jobs like creators and side hustles
- First home buyer schemes explained in plain English
Follow Julian:
Website: https://mauro.net.au/
Instagram: https://www.instagram.com/mauro.au/
00:00 Intro
01:00 Common questions from young adults under 30
01:38 Weirdest thing you can actually claim on tax
02:44 Things you can't claim on tax
05:01 Navigating the modern age tax
09:33 Why young Aussies are locked out of the property market
11:13 The real minimum income you need to buy a home
12:11 Why online loan calculators are misleading
13:21 Should you buy solo or as a couple?
13:44 How your HECS debt quietly kills your borrowing power
14:16 The hidden impact of credit cards on getting a loan
15:21 Why slashing your expenses doesn’t impress the bank
16:22 Earning more doesn’t mean you can borrow more
17:38 Why shopping around for loans can save you thousands
18:37 A real plan for young Aussies who want to buy a house
21:26 How to get a loan if you’re self-employed or a business owner
23:04 “If I can afford rent, why can’t I get a loan?”
26:21 Using a family guarantor: what to know before asking
27:17 How a good accountant can save you serious money
30:01 Did you know private health can be free at this income?
31:36 Leaving the big firm life to bet on yourself
34:04 The truth about working at a big accounting firm
35:24 What actually happens if you don’t do your tax
37:02 What you’d actually need to do to go to jail for tax
38:06 Is getting paid in cash illegal? Here’s what you need to know
38:49 Ozark… explained by a real accountant
40:46 How young people can thrive in the corporate world
42:49 Big firm or small business: what’s right for you?
45:19 Why small companies can fast-track your growth
47:31 What actually needs to change in the industry
48:44 Why the tax game is about to change forever
51:49 The top traits employers are really looking for