Week 11: Tax stuff
Many of us could save a huge amount of money if we kept receipts and claimed all our tax deductions. In fact, in my professional experience, most workers could save at least an additional $1000 simply by being thorough when it comes to doing their tax. Yet, interestingly, saving money by doing our tax thoroughly is rarely on the radar. A survey by The Australia Institute on behalf of Citi Australia (‘Evidence versus Emotion: How Do We Really Make Financial Decisions?’, December 2010) asked respondents what action they would take to save $5 per week. More than one-quarter of people would change bank accounts to save fees, or change electricity providers to save costs. Superannuation and mobile phone contracts were also popular, ...
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