MartinLuther

Not quite. The accountant is only tax deductable not a tax offset so you only get back a portion of what you pay.

However, from your first post you obviously haven't spotted that for most people the tax is actually lower here. Lower pay scales pay less income tax. For higher pay scales you pay higher tax but more of your employer's contributions ends up in your pockets (or estate) when you retire.

GinaUK

And let's not forget: you don't pay National Insurance contributions in Australia . That's a BIG "tax" saving!

Gina

quercus

But they seem to push private medical insurance quite strongly. Is that necessary, can anyone please tell me?
Thanks. Q

DrWho

The answer to that is yes, but which way to go about funding a car can be complicated... Best thing to do is look at the ATO website and read up on the rules and then do a search for 'novated lease' and read the solutions from some of the finance houses...

auspal

Dont forget to put down any interest you have revceived from the bank on your return, even if it was only a couple of dollars. This is one of the first things that are audited by the tax office. If you get picked up with this, then the rest of your claim will be gone through with a fine tooth comb.

Rodders, dont think you can claim for getting to work and back, only if you then go to another jobsite in your own vehicle or use your vehicle for work related matters.

DrWho

Yup... but I read it that they were going to use their car for biz as well... Maybe not...! Oh well, the ATO website will sort it all out...

chels

Me too. I got tax back first year, as I wasn't working the whole time. Last tax year, my tax bill was about $1200, the majority of that was the medicare levy and surcharge. Have now got health insurance so this should be less now. Still expecting to have to pay something though, as I don't work from home, I don't drive as part of my job, I don't have to wear a uniform, I don't travel interstate to made up meetings etc. So my opportunities to claim for things and offset etc is limited.

However, I'll be starting a new job soon and there will be some travel etc and so I'll be saving my receipts etc for the 2007/8 tax year.

MartinLuther

It's funny that most people are happier when the government has taken too much tax off them during the year than when the government has taken too little.


DISCLAIMER: I'm not having a go at anyone - just highlighting a feature of human nature.

birdynumnum

Definately depends what you do.
In UK I was s/employed so was very similar to here re: claiming expenses. Only difference here is as a PAYE, you can claim in a similar way to if you were s/employed.

gedge

that has been my experience too, first year got a good refund, subsequently had to pay some because of medicare levy
have to way up whether the levy costs more than private health insurnace, esp. if you're young fit and healthy like me

glittababe

doesn't work for everyone. I don't have a job where I can claim much, ended up owing them $300 last year!

Bermuda Girl

Not the whole facts.

If the main purpose of a trip is business any related expenses will be deductible, even if there is an incidental private purpose (e.g. a game of golf while away on business). However, if the business part is only incidental to a private trip, then you have to apportion all the expenses and only claim those which relate to the business element.

Therefore, if you did get an audit for your NZ trip you'd be asked to prove that the main purpose of the trip was work, not that you fitted in a half hour meeting during a holiday.

I would guess they would disallow any element of the flight (you were going anyway), but you might be able to claim meals and accomodation for the day you were at the meeting.

Bermuda Girl

No, you can't claim home to work travel as deductible (except in very limited circumstances like if you have to transport heavy equipment to work).

A novated lease is something different - to do with buying the car via your employer. I believe that the expenses you can claim for the car are the same whether you own it or are under a novate lease, and are limited to using the car for work purposes.

If you have two jobs I think you can claim the travel from one to the next.

chels

I can claim back some of the costs of having contact lenses and dental treatment (which I need to pluck up the courage to sort out), so it worked out very slightly in my favour to get basic health insurance... I wouldn't have bothered if my eyes and teeth were perfect.

gedge

that's what i mean, tax rebates aren't a given especially if you don't have private health cover imo