{"id":6569,"date":"2024-07-04T09:24:10","date_gmt":"2024-07-03T23:24:10","guid":{"rendered":"https:\/\/aerogroup.com.au\/?p=6569"},"modified":"2024-07-04T09:25:41","modified_gmt":"2024-07-03T23:25:41","slug":"claiming-fito-essential-steps-for-maximizing-tax-efficiency","status":"publish","type":"post","link":"https:\/\/aerogroup.com.au\/zh\/claiming-fito-essential-steps-for-maximizing-tax-efficiency\/","title":{"rendered":"Claiming FITO: Essential Steps for Maximizing Tax Efficiency"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"6569\" class=\"elementor elementor-6569\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3550356 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"3550356\" data-element_type=\"section\" 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class=\"elementor-shape-fill\" d=\"M421.9,6.5c22.6-2.5,51.5,0.4,75.5,5.3c23.6,4.9,70.9,23.5,100.5,35.7c75.8,32.2,133.7,44.5,192.6,49.7\tc23.6,2.1,48.7,3.5,103.4-2.5c54.7-6,106.2-25.6,106.2-25.6V0H0v30.3c0,0,72,32.6,158.4,30.5c39.2-0.7,92.8-6.7,134-22.4\tc21.2-8.1,52.2-18.2,79.7-24.2C399.3,7.9,411.6,7.5,421.9,6.5z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aff12b1\" data-id=\"aff12b1\" data-element_type=\"column\" data-settings=\"{&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4c66a5 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-heading\" data-id=\"b4c66a5\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_harakiri_text_clip&quot;:&quot;none&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Claiming FITO: Essential Steps for Maximizing Tax Efficiency<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1820160 ob-has-background-overlay elementor-widget elementor-widget-spacer\" data-id=\"1820160\" data-element_type=\"widget\" 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src=\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/07\/2-768x768.jpg\" class=\"attachment-medium_large size-medium_large wp-image-6570\" alt=\"\" srcset=\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/07\/2-768x768.jpg 768w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/07\/2-300x300.jpg 300w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/07\/2-1024x1024.jpg 1024w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/07\/2-150x150.jpg 150w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/07\/2-12x12.jpg 12w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/07\/2.jpg 1080w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80efd2b ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"80efd2b\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h1 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt; text-align: left;\"><span style=\"font-size: 34px;\"><span style=\"font-family: Quicksand, sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Claiming FITO: <\/span><span style=\"font-family: Quicksand, sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Essential Steps for Maximizing Tax Efficiency<\/span><\/span><\/h1><p><b id=\"docs-internal-guid-6ff47e9e-7fff-8041-5f3f-867df5f2f64c\" style=\"font-weight: normal;\">\u00a0<\/b><\/p><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">In today&#8217;s global economy, many Australians find themselves earning income from multiple countries. This raises questions about taxation: Are you being taxed twice on the same income? The answer lies in understanding and leveraging the Foreign Income Tax Offset (FITO), a crucial tool for mitigating double taxation.<\/span><\/p><h4 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 2pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Understanding the Foreign Income Tax Offset (FITO)<\/span><\/h4><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The FITO exists to prevent double taxation on income earned abroad. If you&#8217;ve paid foreign income tax on income that&#8217;s also taxable in Australia, you may be eligible for this offset. This applies to income included in your Australian assessable income or categorized as non-assessable non-exempt income under specific sections of the Income Tax Assessment Act 1936.<\/span><\/p><h4 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 2pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Types of Foreign Taxes Covered and Not Covered by FITO<\/span><\/h4><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">When determining eligibility for FITO, it&#8217;s essential to understand which foreign taxes qualify for offsetting against your Australian tax liability:<\/span><\/p><h4 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 2pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Covered:<\/span><\/h4><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 12pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Income Taxes<\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">: <\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Taxes on foreign income earned, whether from employment or self-employment.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Taxes on Profits or Gains:<\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> Including capital gains taxes and business profits.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 12pt;\" role=\"presentation\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Taxes Covered by International Agreements: <\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Under bilateral or multilateral treaties to avoid double taxation.<\/span><\/p><\/li><\/ul><h4 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 2pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Not Covered:<\/span><\/h4><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 12pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Inheritance Taxes<\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">: <\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Taxes on inherited assets.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Wealth Taxes:<\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> Taxes based on the net worth of assets.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 12pt;\" role=\"presentation\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Production-Based Taxes:<\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> Taxes based on production outputs.<\/span><\/p><\/li><\/ul><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Understanding these distinctions helps ensure eligibility for the Foreign Income Tax Offset (FITO) when claiming tax credits for foreign income taxes paid.<\/span><\/p><h4 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 2pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Calculating and Claiming FITO<\/span><\/h4><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Calculating FITO involves converting all foreign income, deductions, and taxes paid into Australian dollars for tax purposes. If your foreign income tax exceeds $1,000, specific caps and calculations apply, directly impacting your tax liability in Australia:<\/span><\/p><ol style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Conversion to Australian Dollars: <\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">All foreign income, deductions, and taxes paid must be converted using applicable exchange rates.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Caps and Calculations:<\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> FITO claims exceeding $1,000 require detailed calculations based on your total foreign tax liability.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: decimal; font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 12pt;\" role=\"presentation\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Tax Impact:<\/span><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> FITO reduces your Australian tax liability, potentially leading to refunds or adjustments in your tax assessment.<\/span><\/p><\/li><\/ol><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Understanding these steps is crucial for effectively utilizing FITO and complying with Australian tax laws.<\/span><\/p><h4 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 12pt; margin-bottom: 2pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Benefits of Professional Guidance<\/span><\/h4><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Navigating FITO and other international tax complexities can be daunting. Aero Accounting Group specializes in optimizing tax strategies that are personalised to your circumstances. Our expert team ensures you maximize your FITO claims and minimize tax liabilities, ensuring compliance and peace of mind.<\/span><\/p><h3 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 14pt; margin-bottom: 4pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Ready to Optimize Your Tax Strategy?<\/span><\/h3><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;\"><span style=\"font-size: 13.999999999999998pt; font-family: Quicksand,sans-serif; color: #666666; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Claiming FITO requires precision and understanding of international tax laws. Contact Aero Accounting Group today to streamline your tax obligations and maximize your FITO claims. Let our experienced professionals guide you through the complexities of international taxation while securing your financial interests.<\/span><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40e7aa8 ob-has-background-overlay elementor-widget elementor-widget-image\" data-id=\"40e7aa8\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_photomorph_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1536\" height=\"768\" src=\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2023\/08\/Minimise-your-taxes-Maximise-your-profits-min.png\" class=\"attachment-1536x1536 size-1536x1536 wp-image-5566\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3cf03dc ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"3cf03dc\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bcde89d ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-heading ob-harakiri\" data-id=\"bcde89d\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_harakiri_text_clip&quot;:&quot;none&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h4 class=\"elementor-heading-title elementor-size-default\"><strong><span style=\"color: #2c9199;\">Need help?<\/span><\/strong><\/h4>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-7a4bee5 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor ob-harakiri\" data-id=\"7a4bee5\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>Not sure if your current accountant is a good long-term fit?<a href=\"https:\/\/aerogroup.com.au\/zh\/contact-2\/\">&nbsp;Contact us at Aero Accounting Group<\/a>&nbsp;today and we&#8217;ll help you minimise your taxes and maximise your profits<\/p>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36a1048 ob-has-background-overlay elementor-widget elementor-widget-spacer\" data-id=\"36a1048\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_spacerat_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Follow these simple but essential steps when claiming FITO to ensure you get the best and maxed out tax efficiency.<\/p>","protected":false},"author":2,"featured_media":6570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,36,29,33,39,37,32],"tags":[100,181,184,182,56,166,183],"class_list":["post-6569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aero-group","category-free-second-look-assessment","category-in-office-tax-return","category-multi-year-tax-return","category-news","category-tax-return-calculator","category-under-21-tax-return","tag-aero-group","tag-ato-news","tag-fito","tag-fuel-savings","tag-tax","tag-tax-accountants","tag-work-expenses"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v22.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Claiming FITO: Essential Steps for Maximizing Tax Efficiency<\/title>\n<meta name=\"description\" content=\"Follow these simple but essential steps 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