Gina123

This is our first year in Australia - living and working in Melbourne (Arrived in Dec 2008 started work for my company in January 2009). We are on a 457 sponsored visa.

OH has to complete his tax return.

Can we do this by ourselves or do we have to pay a tax consultant to do it for us. I know there are a million threads about tax returns but just wanted to get some peoples opinions and advice on this subject.

1. Advice and opinion about doing it ourselves
2. Advice and opinion about paying a tax consultant to do it for us.

Thanks in advance for your responses

Cheetah7

Some people told us to do it ourselves but we used an accountant - it was far easier just to give her the details and she did it for us.

We got several thousand dollars back between us. Although I would be surprised if we got anything this year.

ABCDiamond

Get someone to do it for you in the first year, then in the second year, you may be able to do it yourself, by referring to what they did.

quoll

If it's your first I would pay a tax agent and have them do it for you then you can see what they claim and do it yourself next year. I have an agent do mine every few years just to check that I am on track with things. You can claim back their fees in the next financial year - also a lot less stressful than spending a weekend trying to make head or tail of the etax package!

Centurion

Imo get a tax agent to do it to maximise your offsets. For example sunscreen costs if working outside, sunglasses. It all mounts up. The cost of the agent is usually stupidly cheap and as mentioned above is claimable the next year.

slipshot

Soooo true. They know mnay things you do not so for the sake of a hundred or so dollars you have the potential to save way way more. I've learnt you have to treat the tax system here very different to the UK. In the UK it's very much PAYE and that's it - easy.

Here, you tend to pay for everything you need up front, the government 'banks' it and you then claim it back. Thus you may pay more in the year but you get it all back at the end and it's nice having a good windfall. In all the tax returns I have ever done we have always used an agent and always got a decent amoutn back - way more than if we had done it ourselves...

ozhappy981

Use a tax accountant for the first year. (You can claim the cost of using the tax accountant as a tax deduction in the next year.)

Because you arrived part-way through the year, items A2 and M1 and M2 might be a bit tricky for you to complete by yourself.

Also: you said you are here on a 457 and you implied you are not working. That means your husband will be entitled to the spouse tax offset (from the date since you arrived in Australia). That's at T1, but again might be a bit tricky to complete for the first year.

Have sent you PM with some more hints. You should get a nice refund .

Gina123

Thank you all very much for taking the time to read and respond to my post it is much appreciated.
I think seen as its our first tax return in Australia we will pay someone to do it for us....Does anyone have any recommendations for good advisors in Melbourne? Where should I start in looking for one?

Thanks again

kicking_k

hi,

I am in australia on a working holiday visa, currently working on a 6month contract, i should get my completition certificate next week, does that mean i am also eligable to claim back some of my tax?

Many thanks

K

ozhappy981

People on a WHV travelling around Australia and stopping off in different places are regarded as "non-resident", which means paying 29% tax on all your earnings (i.e. can't get tax back).

BUT: if you have really stayed in one place for 6 months, you might be able to argue that you were "resident" (and then get some tax back).

moores2525

Hi, my partner and I are over in Sydney from the UK on a 457 visa and looking for a tax accountant. Can anyone recommend a good one in Sydney please, ideally for under $500?

kar-kier

I've just done our first tax return - arrived in Jan on a 457.

I don't honestly see what all the fuss is about. If you do it online and READ EVERYTHING it tells you exactly what you can and can't claim for. I found it self explanitory, and don't see the point of paying someone to do it for me.

Saying that, give yourself a good hour of peace and quiet to work your way through it, as it takes time and involves a lot of reading. We have an estimate of $4250 - so we'll see if I got it right when the actual money comes in.

fish.01

Just in case you don't know, the estimate is usually the amount you will be paid because they just use what you entered into etax. It is usually only if they audit you that they may find problems.

Of course there are things they can double check like the amount of interest paid to you by the banks etc - but in general the rule holds that your estimate equals the payout, especially now that the program fills out so much for you.

ABCDiamond

Just to ensure that everyone understands the implications of this...

As fish.01 says,

• You will get back what e-tax has said will be your refund.
• And you will have signed that it is ALL correct.
• If you get it wrong, YOU will be liable for any penalties and interest.
• Your return can be checked for errors by the ATO at anytime in the next few years.

Having said that though, exactly the same rules apply even if you get a tax agent to fill the forms in for you.

kar-kier

Lol, lucky I stated the $7.07 interest I earned in my bank account!