medium loans

2017 EOFY Tax Tips: Getting Your Finances in Order

As June 30th draws closer and the end of financial year looms on the calendar, now is once again the time to prepare for that annual meeting with your trusty accountant. Whilst you might think that tax deductions are the exclusive domain of high flyers and big business honchos, anyone who works for a living (i.e. salaried employees) is entitled to claim them. Whether it’s been a particularly busy or expensive year for you with work-related expenses galore, or just the regular course of events, it never hurts to collect those receipts you’ve been diligently stuffing away in a shoebox and get something back from the taxman. To help you get tax fit for FY 2017-18, we’ve put together two simple steps anyone can follow.

1. Collect Receipts & Track Your Expenses 

The first step for getting a handsome tax return at the end of financial year is to collect all relevant receipts and track all expenses relating to your work or source(s) of income. Since Australian tax law allows the deduction of any expenses incurred in generating an income, including taking your 9-5 work home with you, this is by far your best way to bring home the bacon after June 30! Thanks to the power of smartphones, collecting receipts and tracking your expenses has been made super-easy with these nifty apps:

  •  Concur (Desktop & Smartphone) – A handy tool allowing you to automate your travel and work-related expenses in addition to managing invoices. The ability to take a photo of a receipt to store for later is our favourite feature.
  •  Pocketbook (Smartphone)Pocketbook is a powerful personal budgeting app that allows you to track and categorise all of your spending.
  •  TrackMySpend (Smartphone) – Developed by ASIC, TrackMySpend does just that, helping you keep tabs on where your money goes for tax time.

2. Minimise Your Tax Liability (Legally of Course)! 

Having sorted out your shoebox of receipts, the next step is to book an appointment with a qualified tax accountant after June 30 so you can make the most out of any tax deductions you’re eligible for, whilst minimising the risk of landing on the wrong side of the ATO! In the meantime, here’s a few more things you can do before the end of financial year:

  • Bring forward any big work-related expenses before June 30

Big expenses like buying new work uniforms, laptops or equipment are all legitimate tax deductions, which can be instantly written-off up to the value of $20,000. Even enrolling into work-related courses or seminars can be tax deductible, meaning the possibility of extra cash in the bank!

  •  Claim all relevant tax deductions

Another thing to keep in mind is the large list of legitimate tax deductions available to all Australian employees, which the ATO details here. Many of these deductible expenses are generated during day-to-day employment and can include the following items:

  • Education expenses (attending industry conferences, seminars, enrollment fees etc)
  • Internet and mobile phone connections (a portion reflecting work-related usage)
  • Home office equipment costs (computers, printers, telephones etc)
  • Home office running expenses (heating, cooling, lighting, cleaning, carpet wear & tear etc)
  • Vehicle expenses (fuel, work-related travel etc) (a portion reflecting work-related usage)

Need a little extra help paying for that new laptop or seminar before EOFY 2017? Or how about bringing forward some of your other work-related expenses to keep your hard earned cash in your back pocket instead of handing it over to the taxman (and no, Jimmy Choo doesn’t make steel capped boots!)? Check out our smart little cash loans from Nimble!

 

You should read this bit: The above post contains links to a variety of application software (“App, Apps”) that is not affiliated or associated with Nimble. We do not have any control or responsibility over the content of the Apps. Use of the Apps may be subject to further terms and conditions imposed by the App provider, the owner of the mobile operating system and/or other related parties. The above links belong to a variety of websites and not Nimble, so clicking on, and using them, will take you away from Nimble’s website meaning we’ve got no control or responsibility over the content. Nimble does not endorse and is not affiliated or associated in any way whatsoever to the businesses named in this blog post. The information in this blog post is general information only and does not take into account your objectives, financial situation or needs. For tax advice relating to your specific financial situation, Nimble recommends seeking the services of a qualified Australian tax accountant. The information contained in this blog is correct at the date of publication.

Hot Tech Trends Changing Our Daily Life

Remember the good old days of dial-up internet in the 1990’s and the amazement we felt at being able to send emails to people anywhere in the world at any time? The excited “you’ve got mail!” we heard as a reply landed in our inbox? Or for that matter, the launch of the revolutionary Apple iPhone just under 10 years ago, which gave us the novelty of browsing the internet on the train to work, when sitting at the dinner table with friends and pretty much everywhere else? There’s little doubt we’ve all been swept up in these rapid digital technology changes that have occurred in a very short space of time. So if you’re keen to keep two steps ahead of the changing technological guard next time, we’ve put together a handy and up-to-date list of three hot tech trends set to change how we live our daily lives in years to come.

 

1. Internet of Things (IoT)

Ever wondered what your smartphone would say if it could talk? The tales it would tell about you! Or how much easier life would be if your fridge had a mind of its own and could send you a handy text to pick up a carton of milk on your way home from work? The Internet of Things (also known as IoT) is making all this and more a possibility, by connecting common devices or “things” via Wi-Fi.

 

  • Wearable Devices

Perhaps the most obvious example of the Internet of Things are wearable devices that have risen to fame in recent years, thanks to the launch of high tech gadgets like the Apple Watch and Fitbit to name a few examples. Able to track our daily movements and much more, these handy add-ons are helping make us more sci-fi by the day!

 

  • Voice Search

As well as being able to connect common digital devices into one big happy family, another quirk of IoT is the ability it gives us to talk directly to those devices to ask questions (hello Google!) or simply give commands (Alexa, turn off the lights)! Chief amongst voice search technologies worth keeping an eye on are Google Home and Amazon Alexa, coming to a home near you…

 

2. Fintech 

Gone are the days when taking out a personal loan, or any money for that matter involved finding time to line up in a stuffy branch of an established big bank. Thanks to the advent of Fintech (or financial technology), a range of nimble startups (no pun intended) have emerged to offer us alternative ways of getting our hands on cold hard cash.

 

  • Bitcoin 

The poster boy for fintech is Bitcoin, a cryptocurrency developed by a bunch of hardcore computer programmers who kindly released their invention onto the online world in 2009. Unlike traditional currency (i.e. the Aussie Dollar), Bitcoin works by allowing holders to conduct transactions online directly, without any meddling intermediary (such as the Reserve Bank or ATO). Transactions are instead verified by a blockchain, a fancy database that lives deep in cyberspace!

 

  • Nimble Algorithm 

Another innovation out of the fintech revolution is Nimble ourselves, with our top secret algorithm using machine-learning technology and behavioural data to assess every loan application against a broad range of various data sources, with potentially thousands of data points, all within minutes. This allows us to quickly assess borrowers’ applications and get our small cash loans transferred into approved borrowers bank accounts within an hour of borrowers confirming their loan, giving them access to their money faster, so they can get on with their life.*

 

3. Health & Fitness Apps

Keeping fit and fab has never been more important than in today’s image-obsessed world! Instagram and #fitspo workout selfies aside, there are some seriously cool gadgets and health & fitness apps on the market to help you get the most out of exercise and get rewarded for doing it.

 

  • Exercise Tracking 

As mentioned under the Internet of Things, wearable devices like the Apple Watch and Fitbit have entered the mainstream in recent years, allowing us to track our daily steps, monitor our heart rate, measure our walking or running speed and tell us how we’re doing on the calorie burning front amongst many more features. Don’t want to invest in the above? No problem, there’s plenty of stand-alone apps that work a treat on any smartphone, including Endomondo, Google Fit, Pocket Yoga and RunKeeper.

 

  • Lowering Health Premiums

Last but not least, thanks to the ability to measure our physical activity comes the opportunity to also be rewarded for that gruelling early morning workout session or even for just maintaining a regular gym routine. Qantas has got in on the act with their Qantas Assure program where you can earn frequent flyer points for being active, whilst insurance providers like AIA Vitality and Asteron Life are offering customers lower premiums.

 

Keen to get your hands on some of this cutting edge new technology? Check out Nimble‘s smart little cash loans to help you pay for that all-important pre-order or to impress your favourite tech-head with an unexpected gift.**   

 

You should read this bit: The above post contains links to a variety of application software (“App, Apps”) that is not affiliated or associated with Nimble. We do not have any control or responsibility over the content of the Apps. Use of the Apps may be subject to further terms and conditions imposed by the App provider, the owner of the mobile operating system and/or other related parties.  The above links belong to a variety of websites and not Nimble, so clicking on, and using them, will take you away from Nimble’s website meaning we’ve got no control or responsibility over the content. Nimble does not endorse and is not affiliated or associated in any way whatsoever to the businesses named in this blog post.

The information in this blog post is general information only and does not take into account your objectives, financial situation or needs.

The information contained in this blog is correct at the date of publication.

*Once your Nimble loan is approved, it’ll be transferred to your bank account within 60 minutes of confirming your loan, if confirmed by 4:30pm AEST during banking days. Otherwise, the payment will be processed on the next business day. Clearance time is subject to your bank. Depending on your bank, you may be paid within minutes of confirming your loan 7 days a week, including public holidays.

**This is not a loan offer. Loans are subject to meeting Nimble’s lending criteria and suitability checks.

6 Top Travel Trends

Regardless of whether you’re an adventurous traveller or prefer to keep the pace slow, there’s an abundance of travel trends you can get on board with.

We’ve compiled a list with 6 of the hottest travel trends right now, with a little help from some of our digital friends Kayla Manoe, founder of Kelana by Kayla; Stephen and Jess; Co-Founders of Flying the Nest; Scott Purcell, Co-founder of Man of Many and James Banham, editor at The-F.

    1. Go where the good food is

“If the millions of travellers around the world have told us one thing through their pictures and stories, it’s this; food is where it’s at,” says Co-Founder of Man of Many, Scott Purcell.

There are countless anecdotes, guide listings and tasty memories from travellers about the food markets in Hong Kong and Singapore, the raging brunch trend in Australia, the hearty and meaty dishes of southern America and the cultural explosion that is European cuisine. All put food right at the top of the pile when it comes to ‘reason to travel’.

“Search ‘#food’ on Instagram and be bombarded with millions of images of some seriously sumptuous sights that are as good enough a reason to book a ticket to essentially anywhere as soon as you can muster!” Scott says. We couldn’t agree more.

    2. Active retreats   

Health, wellness and fitness retreats are the new beach holiday! There are loads of options out there, aimed at getting you moving, unwinding from the stresses of everyday life and nurturing your mind and body. These might include hikes and boot camp style breaks or something more gentle (but no less challenging in their own right) such as yoga and meditation retreats.

    3. Working holidays

Travelling for work? Make the most of your work-expensed flights by extending your stay for a few extra days or using the trip as a launching pad for a longer break. If you’re short on time and don’t have flexible flights, make the most of your spare hours (however limited) and discover the sights and sounds of your destination after you switch off for the day. Explore the streets with your camera in hand, grab a bite at a notable restaurant or maybe, just maybe, squeeze in a visit to one of the landmarks if you can get in before closing time.

    4. Live as the locals do

Getting off the beaten path is an experience that more and more explorers seek out on their travels abroad. Do your research to find local events and hangout spots, ask friends and family who may have been to the destination before for their hot tips or just wing it and see what you can find. Need a helping hand? Airbnb have recently launched an ‘Experiences’ tab which allows you to get a sneak peek into the lives of a local, as your host guides you around town or takes you through a workshop with a local flair to it.

    5. Volunteering and sustainable travel

Travel is a rewarding experience in itself, but you can take it to the next level by giving back to the community you’re visiting by volunteering and engaging in sustainable travel practices. Stephen and Jess, Co-Founders of Flying the Nest say “Volunteering abroad is quickly growing to be a popular alternative to someone’s gap year and it’s not just for the new explorers, we see plenty of families and people having a mid-life or mid-job crisis.”

There are many credible organisations out there that specialise in coordinating volunteer holidays. Think anything from conservation projects working with native animals and wildlife preservation to building and infrastructure development or teaching a language or specialist skill.

While volunteering abroad and being a sustainable traveller isn’t always the cheapest way to go, your actions certainly go a long way! Kayla Manoe, Founder of Kelana by Kayla shares a few ideas for incorporating responsible practices into your trip:

  • Opting for train and bus travel
  • Boycotting cruel animal attractions
  • Reducing waste
  • Shopping fair trade

These activities “are all incredibly important in sustaining the environment and providing a more positive and rewarding experience for all involved” she says.

    6. Staycations

Sometimes you don’t need to go far to have a good time. “One of the most popular travel trends on the rise is the oft-underrated staycation,” says James Banham, Editor at The-F.

“Instead of spending time and money on expensive flights, stick close to home and spend the extra dollars on wine, cheese, an award-winning restaurant or a zippy convertible for the weekend.

It’s also a great opportunity to discover more about your own backyard, and by supporting local businesses you’ll be putting the dollars back into your local economy. We’re spoilt for choice in Australia – there’s no excuse not to see it all.”

Feeling inspired but don’t have quite enough in the piggy bank just yet? Nimble offer small and medium loans and you can borrow money fast with our cash loans online. Happy holiday planning!

Quick heads up: The above links belong to a variety of websites and not Nimble, so clicking on, and using them, will take you away from Nimble’s website meaning we’ve got no control or responsibility over the content. Nimble does not endorse and is not affiliated or associated in any way whatsoever to the businesses named in this blog post.

The information in this blog post is general information only and does not take into account your objectives, financial situation or needs.

The information contained in this blog is correct at the date of publication.