jessnjim

What do we have to do for filing our taxes in Australia? Where can we find out about deductions?

Can anyone letme know a website i can look at

Thanks

stevemich

www.ato.gov.au

Nomore

There are loads of Accountants you can use to fill in your tax returns. They are not expensive and save you time and frustration filling in forms.
Keep all you receipts for absolutley everything you earn and buy and it will all come off your tax end of year..

jessnjim

does the tax year start on the 1st of April like in UK>

Nomore

No it's June or July...can't remember which one now

MD09

Fiscal year: 1 July to 30 June.

Calendar year: 1 Jan to 31 Dec

jessnjim

Hubby is working full time.

I wont be working (very much)

Im just not sure what we do or where we start.

Hmmm, more research methinks

thanks

MD09

I wouldn't be bothered with a bean counter unless you have an investment property, other such investments or difficult deductions.

You can do your return online. It's simple, you don't need a degree in accounting

Most of the accountants I've worked with don't even know how to use programs such as Excel properly. Bunch of tossers usually.

jessnjim

Im competent with computers, know my way around excel. Have just downloaded the ATO Personal Tax Record Keeper program so will have a chance to get to grips with that. I guess i am just finding it a little bit overwhelming.

Wendy

I'm usually really good with stuff like this, but because it's our first year I'm going to pay the $80 it cost for someone to help me. My mate said she did the same last year and ended up getting over a grand in rebates and is more confident this year that she knows what she is doing.

beachgal

Hi

We did it ourselves online on the ato website - was very easy though timeconsuming digging reciepts out etc - me and my hubbie are just normal employed people (not self employed) and we got $3.5k back between us - as a nurse I was able to claim for my refidex - used to get me from patients house to house and some work clothes expenses such as shoes etc - don't save all your recipts - we had been told that too but in reality only required a few reciepts - there was some brochures that you can download from the ATO website that tells you what you can claim for, for different occupations. My hubbie was using his own car to get to and from work at the time but he also used it for the occasional trip to suppliers - he was able to claim a tax deduction on trips like that (though you should keep a log book as they can audit your claim) I'd have a look now and see what you need to keep for your own personal circumstances - that way you don't save unecessary reciepts etc - don't think that because you pay money to someone to do your tax claim that they make you more money - we were just as capable of doing it ourselves- if you can lodge a visa application then this is so easy by comparison! It would be even more time consuming knowing what to take to the tax accountant people - at the end of the day you still have to dig stuff out. Your end of year statement things that come once a year with your payslip are also very important so don't lose them.

Hope this helps

Wendy

That's good to know, cheers for that.

I'm still gonna cheat though I know someone who comes to your house. I need help with family tax benefit and rent allowance as well.

Pomster

First year we completed our own....but we know better now!

I am usually pretty comfortable with such things but the allowances etc are inordinately complex. we now pay an accountant who knows all the offsets etc and it costs reasonably little to get it completed.

Another plus is that agent's returns seem to be processed more quickly- we usually get a refund within about 10-14 days of completion....(and our accountant comes to our house!)

cartel

Hi,

I think I am just about to ask an incredibly stupid question, but please bear with me......

If you are employed, is your tax taken out of your monthly pay? If so, I take it you are taxed on the annualised pay agreed at acceptance of the job?

Are we talking about ways of being able to get a tax rebate by offsetting childminding, petrol, ?????? and any additional costs (any idea's greatly appreciated).

Can this work the other way and you get charged additional tax?

OK - so there was more than one question and possibly all stupid! Would anyone be willing to give me a 'idiots guide' to the tax system in a couple of sentences?

Thanks


Carol

Wendy

That's not a stupid question. I don't understand it and I live here

My hubby pays tax on his wages every fortnight, he gets taxed on all of it including any overtime. I'll let you know how the rest works in July when we get someone in to help with it