No longer do we have to find Tax Time confusing – There is an app for that! – Young Entrepreneur and Founder of Callaughan Partners, Brad Callaughan launched his companies app 3 days before the end of financial year last week.
Callaughan Partners Tax Calculator allows you to get an indication of your tax liability for the tax calendar years 2011-2012 and 2012-2013. Key in your income and expenses and the Callaughan Partners Tax Calculator will calculate the following;
- Taxable Income
- Medicare Levy
- Medicare Levy Surcharge
- Low Income Tax Offsets
Based on this information the Callaughan Partners Tax Calculator will also display whether you maybe eligible for a tax refund or if you are liable for extra tax. This calculator should be used for personal income tax returns only. The Callaughan Partners Tax Calculator also provides useful information such as Tax Tips, you can use this information to determine what deductions your maybe eligible for in your working industry.
It also has an Expense Tracker which you can use and keep track of your expenses as you incur them throughout the year. Use the auto fill option to have these expenses automatically populated in the expenses section of the tax calculator.
“Our App has been developed for an Individual to track all their expenses through the year and then to pre-populate a tax return, enter their group certificate income and then calculate. This will give them an estimate of their tax refund for the year. They can then email that information across to us and we will lodge their tax return based on this information. This can eliminate a trip to your accountants each year and trying to remember your deductions, just add them into the budget tracker as you get them” said Mr Callaughan.