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E-tax, separate net income help!!!

E-tax, separate net income help!!!

Old Sep 14th 2008, 12:59 am
  #1  
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Default E-tax, separate net income help!!!

Trying to do the e-tax for the first time and I am getting confused.

On spouse details I need to fill:
2007-2008 taxable income (salary from PAYG plus interest from the bank) clear.

A few lines below is the line for:

Separate net income: ?????

Is this the gross income (from above) minus taxes paid?
Or not related to the taxable income from the first line?
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Old Sep 14th 2008, 2:35 am
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Default Re: E-tax, separate net income help!!!

Just put in your spouses Gross Income... (unless they have some other income)


Separate net income is income and other specified amounts earned or received during the income year by your dependant while you maintained them.

SNI includes some amounts that are not included in the recipient’s assessable income.
SNI earned by your dependant may affect any claim you are entitled to.

SNI includes:

Salary and wages
Termination payments representing unused annual leave and long service leave
Pensions, including Australian annuities and superannuation income streams and exempt pensions
Interest and dividend income – but not the franking credit attached to franked dividends
Business, trust and rental income
Veterans’ Affairs payments and most Centrelink payments including parenting payment (partnered), carer's payment, remote area allowance and the language, literacy and numeracy supplement
any net capital gain for the income year
any maintenance payments your spouse received for their own support after divorce or separation – even though your spouse may not need to declare such income for tax purposes, and
the maintenance or accommodation component of a scholarship paid by the Commonwealth or a state, except where that component is paid for helping to educate isolated children under 16 years.
 
Old Sep 14th 2008, 2:37 am
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Default Re: E-tax, separate net income help!!!

Originally Posted by Mipik
Trying to do the e-tax for the first time and I am getting confused.

On spouse details I need to fill:
2007-2008 taxable income (salary from PAYG plus interest from the bank) clear.

A few lines below is the line for:

Separate net income: ?????

Is this the gross income (from above) minus taxes paid?
Or not related to the taxable income from the first line?

This is no tax advice, so consult a tax person.....

To my understanding, SNI is the Income that your spouse has earned while you have maintained them. So I think nothing to do with your own income.
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Old Sep 14th 2008, 7:23 am
  #4  
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Default Re: E-tax, separate net income help!!!

It's very confusing.

We just entered each other's income - IIRC the program corrected it to what it needed. I don't think it actually does anything with it apart from checking thresholds etc.
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Old Sep 14th 2008, 7:33 am
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Default Re: E-tax, separate net income help!!!

Originally Posted by Wol
It's very confusing.
I agree, and I started doing peoples Australian tax returns in 1989'ish

Unfortunately I do them on auto pilot, so it's difficult to think what I actually do when I talk about it.
 
Old Sep 14th 2008, 9:11 am
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Default Re: E-tax, separate net income help!!!

Originally Posted by ABCDiamond
I agree, and I started doing peoples Australian tax returns in 1989'ish

Unfortunately I do them on auto pilot, so it's difficult to think what I actually do when I talk about it.
It doesn't make it any easier when the ATO changes the playing field every year either.
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Old Sep 14th 2008, 11:37 am
  #7  
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Default Re: E-tax, separate net income help!!!

Originally Posted by ABCDiamond
I agree, and I started doing peoples Australian tax returns in 1989'ish

Unfortunately I do them on auto pilot, so it's difficult to think what I actually do when I talk about it.
That's the problem with all countries' tax returns, isn't it?

You plough your way through the regulations and complexities each year, file them - and shove the paperwork away with a sigh.

Twelve months later you start again - from first principles, since you've forgotten everything................
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