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-   -   income tax! (https://britishexpats.com/forum/australia-54/income-tax-179584/)

teresa31 Sep 20th 2003 8:31 am

income tax!
 
you know how in england you get a job ,you give them your national insurance n0. then at the end of the month you get your wages 'minus' tax.well is it true that you have to work your own tax out on a yearly basis in oz as you would here if self employed

yafm Sep 20th 2003 10:01 am

Re: income tax!
 

Originally posted by teresa31
you know how in england you get a job ,you give them your national insurance n0. then at the end of the month you get your wages 'minus' tax.well is it true that you have to work your own tax out on a yearly basis in oz as you would here if self employed


EVERYONE IN OZ (EVEN RETIRED) HAS TO LODGE A TAX RETURN

teresa31 Sep 20th 2003 10:14 am

Re: income tax!
 

Originally posted by yafm
EVERYONE IN OZ (EVEN RETIRED) HAS TO LODGE A TAX RETURN
sorry to sound a bit dense but does this involve hiring an accountant or can it be done by oneself?
if so how hard is it?

Pollyana Sep 20th 2003 11:28 am

I've been told its not too difficult. Seems that getting an accountant to do it though is a LOT cheaper than getting one over here - my Bloke is just an ordinary storesman, but he says its so cheap that he gets a guy to do it for him - and also the guy knows everything you can claim for - lots more stuff than you can claim for here, so I'm told.
:)

yafm Sep 20th 2003 12:12 pm

Polly Wher do they keep the kangaroos and who taught them to dance - I thought they culd only box:D :eek:

tinaj Sep 20th 2003 2:34 pm

It will seems like going back to school when we get out there- all of these new procedures to follow!

teresa31 Sep 20th 2003 3:17 pm


Originally posted by tinaj
It will seems like going back to school when we get out there- all of these new procedures to follow!
hello tina
yes i know what you mean i think though it is one of the tests of whether or not you are really prepared to go through with the whole thing of emigrating, because it seems to me with the long list of things to do before you get there and then all the things you have to do when you actually arrive and i think if you get through all the prep. then all the rest is a piece of cake.
teresa
p.s.
well i'm hoping that is the case anyway.

WBB Sep 20th 2003 3:33 pm

Re: income tax!
 

Originally posted by yafm
EVERYONE IN OZ (EVEN RETIRED) HAS TO LODGE A TAX RETURN

you learn something new everyday...

Pollyana Sep 20th 2003 5:05 pm

If you get stuck Tina, remember I shall be there shortly before you, and am marrying a local - he's been very patient with me asking stupid questions about tax and doctors and supermarkets and every day life! So what I haven't learnt, I'm sure he'll be happy to tell you.
Perhaps while I'm waiting to get a job I should make a point of putting all the everyday stuff I learn onto the forums for the next batch of arrivals?

bondipom Sep 20th 2003 11:31 pm

Re: income tax!
 

Originally posted by teresa31
you know how in england you get a job ,you give them your national insurance n0. then at the end of the month you get your wages 'minus' tax.well is it true that you have to work your own tax out on a yearly basis in oz as you would here if self employed
No need for an accountant although they might know a few loopholes. Read up on what you can claim against tax for your profession and save receipts. You can claim $300 without any receipts.

The return can be done online using a program from the ATO. I have used it successfully the last 2 years.

Alan Collett Sep 21st 2003 1:05 am

Your average accountant on the High Street in Australia will be fine if you "only" have a salary and some income from investments that are within Australia.

If you have savings or income from property, etc that are outside Australia I'd ask a few more questions before engaging a firm though, as based on my dealings I'd not expect too many tax accountants to have a good understanding of some of the special tax rules that can apply to those who have moved to Australia.

As bondipom says, you can file your personal Tax Return in Australia online - the ATO have a link on their website (www.ato.gov.au), and here's another:
http://www.etax.com.au/

Best regards.

bondipom Sep 21st 2003 4:01 am


Originally posted by Alan Collett
Your average accountant on the High Street in Australia will be fine if you "only" have a salary and some income from investments that are within Australia.

If you have savings or income from property, etc that are outside Australia I'd ask a few more questions before engaging a firm though, as based on my dealings I'd not expect too many tax accountants to have a good understanding of some of the special tax rules that can apply to those who have moved to Australia.

As bondipom says, you can file your personal Tax Return in Australia online - the ATO have a link on their website (www.ato.gov.au), and here's another:
http://www.etax.com.au/

Best regards.
Alan

For simple tax cases ie PAYG job, some savings, how much extra could you claim back that us simple non accounting bods would miss.

Does that extra make up for any cut the accountant would take as a fee?

MrsDagboy Sep 21st 2003 4:13 am

Re: income tax!
 

Originally posted by yafm
EVERYONE IN OZ (EVEN RETIRED) HAS TO LODGE A TAX RETURN
I dont think thats true at all :confused: , my Mum didnt have to lodge a tax return for probably the last 10 years & she was retired. Yes, most people have to lodge them, including some retirees (depending on investments), but its certainly not everyone.

Alan Collett Sep 21st 2003 4:15 am

I don't know to be honest, as I don't know what you would claim and what you would miss ... :-))

Best regards.




Originally posted by bondipom
Alan

For simple tax cases ie PAYG job, some savings, how much extra could you claim back that us simple non accounting bods would miss.

Does that extra make up for any cut the accountant would take as a fee?

bondipom Sep 21st 2003 4:37 am


Originally posted by Alan Collett
I don't know to be honest, as I don't know what you would claim and what you would miss ... :-))

Best regards.
I was being a bit inprecise. From speaking to people at work those with anything other than straight forward PAYG income find tax accountants beneficial. The main reason is the time saved in figuring out the ever changing rules.

One person with an investment property said there was no way he could have figured out all the items claimed.


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