e-tax
#1
Thread Starter
Joined: Dec 2003
Posts: 7,834
e-tax
How easy is it to do your tax return online?
Got a letter in yesterday asking us if we wanted to do it this way
Got a letter in yesterday asking us if we wanted to do it this way
#2
Re: e-tax
Originally Posted by biggy
How easy is it to do your tax return online?
Got a letter in yesterday asking us if we wanted to do it this way
Got a letter in yesterday asking us if we wanted to do it this way
#3
Thread Starter
Joined: Dec 2003
Posts: 7,834
Re: e-tax
Originally Posted by Del Boy
Quick, easy and refunds within 10 days.
#4
Re: e-tax
Originally Posted by biggy
thanks for the reply....am I right in saying that I can also claim the family tax benefit though this
#5
Thread Starter
Joined: Dec 2003
Posts: 7,834
Re: e-tax
Originally Posted by Del Boy
I believe thats right, yes
#6
Prisoner of Her Majesty
Joined: Jan 2005
Location: Chapel Hill, Brisbane
Posts: 838
Re: e-tax
Originally Posted by Del Boy
I believe thats right, yes
I think i read on a form that you shouldn't get taxed until you have earned $6000?! Is this true and do you know whether it is possible to get it back on our tax return?
Cheers
Sam
#7
Guest
Posts: n/a
Re: e-tax
Originally Posted by samnrob2
Do you also know whether they give tax returns to people who have not yet earned $6000?
I think i read on a form that you shouldn't get taxed until you have earned $6000?! Is this true and do you know whether it is possible to get it back on our tax return?
Cheers
Sam
I think i read on a form that you shouldn't get taxed until you have earned $6000?! Is this true and do you know whether it is possible to get it back on our tax return?
Cheers
Sam
However, an employer will only pro rata it on a weekly basis. Therefore, no matter how long you have been here they will allow only (6,000/52) as tax free each week.
Unlike the UK system, they do NOT accumulate these figures weekly.
But, it all comes out in the wash after June 30th, and almost every taxpayer seems to get a tax rebate after the Tax Return goes in
#8
Prisoner of Her Majesty
Joined: Jan 2005
Location: Chapel Hill, Brisbane
Posts: 838
Re: e-tax
Originally Posted by ABCDiamond
The $6,000 figure is correct, but it is calculated pro rata, so if you have been here for only 6 months, they will allow you to earn $3,000 before Tax is due.
However, an employer will only pro rata it on a weekly basis. Therefore, no matter how long you have been here they will allow only (6,000/52) as tax free each week.
Unlike the UK system, they do NOT accumulate these figures weekly.
But, it all comes out in the wash after June 30th, and almost every taxpayer seems to get a tax rebate after the Tax Return goes in
However, an employer will only pro rata it on a weekly basis. Therefore, no matter how long you have been here they will allow only (6,000/52) as tax free each week.
Unlike the UK system, they do NOT accumulate these figures weekly.
But, it all comes out in the wash after June 30th, and almost every taxpayer seems to get a tax rebate after the Tax Return goes in
Thanks that's really helpful.
Sam
#9
Guest
Posts: n/a
Re: e-tax
Regarding the Family Tax Benefit (FTB), if you end up having claimed more than you are entitled to by the end of the financial year, then any overpayment will be reclaimed from you in the final Tax Assessement.
This can occur in various ways, but the main way is when a person first claims FTB, and they are probably on a low income. As their income rises, and because the amount of FTB is based on income, it is possible that you can end up having been paid too much.
That is the main reason why you will see advertising telling people to update Centrelink with your current income. They do this to try to help people avoid getting themselves into that trap.
eg: assume a family claims FTB, at the beginning of the year, when their income is $20,000 per year.
But then if they change jobs and get $150,000 py, and still claim FTB based on $20,000 py (it happens), they will then end up with benefits that they are not really entitled to, based on their total annual income. And this will be taken back by the ATO.
This can occur in various ways, but the main way is when a person first claims FTB, and they are probably on a low income. As their income rises, and because the amount of FTB is based on income, it is possible that you can end up having been paid too much.
That is the main reason why you will see advertising telling people to update Centrelink with your current income. They do this to try to help people avoid getting themselves into that trap.
eg: assume a family claims FTB, at the beginning of the year, when their income is $20,000 per year.
But then if they change jobs and get $150,000 py, and still claim FTB based on $20,000 py (it happens), they will then end up with benefits that they are not really entitled to, based on their total annual income. And this will be taken back by the ATO.
#10
Thread Starter
Joined: Dec 2003
Posts: 7,834
Re: e-tax
Originally Posted by ABCDiamond
Regarding the Family Tax Benefit (FTB), if you end up having claimed more than you are entitled to by the end of the financial year, then any overpayment will be reclaimed from you in the final Tax Assessement.
This can occur in various ways, but the main way is when a person first claims FTB, and they are probably on a low income. As their income rises, and because the amount of FTB is based on income, it is possible that you can end up having been paid too much.
That is the main reason why you will see advertising telling people to update Centrelink with your current income. They do this to try to help people avoid getting themselves into that trap.
eg: assume a family claims FTB, at the beginning of the year, when their income is $20,000 per year.
But then if they change jobs and get $150,000 py, and still claim FTB based on $20,000 py (it happens), they will then end up with benefits that they are not really entitled to, based on their total annual income. And this will be taken back by the ATO.
This can occur in various ways, but the main way is when a person first claims FTB, and they are probably on a low income. As their income rises, and because the amount of FTB is based on income, it is possible that you can end up having been paid too much.
That is the main reason why you will see advertising telling people to update Centrelink with your current income. They do this to try to help people avoid getting themselves into that trap.
eg: assume a family claims FTB, at the beginning of the year, when their income is $20,000 per year.
But then if they change jobs and get $150,000 py, and still claim FTB based on $20,000 py (it happens), they will then end up with benefits that they are not really entitled to, based on their total annual income. And this will be taken back by the ATO.
Last edited by biggy; Jun 22nd 2005 at 4:00 am.
#11
Guest
Posts: n/a
Re: e-tax
Originally Posted by biggy
I havent claimed any FTB yet as we thought it would be best to get it at the end of the year, if we had it in our grubby paws we would just spend it on vino lol....this wat we can put it towards our mortgage.......och how sensible r we.........or then again it may go into the pool fund hehe