When Did You Last Eat A Banana?

Many are keeping a close watch on their spending trying to make a difference to their budget.  The Queensland January floods and cyclone Yasi hasn’t helped with the current price of fruit  and vegetables.  Bananas have led the price increases rising by a whopping 470 per cent pushing inflation higher. The Australian Bureau of Statistics have reported following the rise of fruit and vegetables are increases of 10 per cent for electricity,12.8 per cent for water and 11.3 per cent for petrol.

Luckily we have low unemployment, strong wage growth, low inflation,but the rising cost of living is a concern. Living within your means makes no allowance for emergencies or longer term goals and the normal three ways of saving include buying less food, less garden expenses and cleaning materials.

One way to really assist a PAYE or personal tax payer is to understand all the tax deductions that are available. It is surprising how many there are which are missed by hardworking employees. You won’t get a thankyou note from the Tax Man if you overpay your tax. A good online tax manager will find all your tax deductions and this is a good time of year to be looking to get all your tax back.