Big Man

Here's a quick one. I have been here working on a 457 since Nov 09 and therefore have not paid tax for the full tax year. Am I due for a tax rebate and if so how do I go about getting it?

ABCDiamond

Not dull in the slightest

You will do an Australian tax return in July, and any rebate will be worked out then.

A tax agent should charge about $100 for a tax return.

coolshadows

Is it better to use a tax agent, or the 'straight forward' online system?

spottydog

I've always done mine online. I looked at finding a tax agent last year but it seemed that any agent that did more than the basic fill in the form for you was well over $100 and I decided as I don't have any complications (no investments or negative gearing) I could easily do it myself.

ABCDiamond

My personal advice, is to get a tax agent to do it for the first year, then do it yourself, copying their ideas for future years.

Without having much local tax knowledge, many people will not think to claim for various expenses that they may not be aware of.

Here are some ideas of costs for having a tax return done in 2009/10:I know of people who pay much more, and may get more back ? but then again, they may not ?

the 'straight forward' online system?
It sometimes make me think, and I have been doing Australian tax returns since 1988....

Wol

>> the 'straight forward' online system? <<

What is so complicated about the online tax return (For straightforward taxpayers)?

With the exception of the at-first-sight iterating questions of own/wife's earnings it is a breeze to do - and I speak as one who never once was able to get the UK online return to work!

ABCDiamond

In general it is pretty straightforward, to me, but I hear many people find it isn't, and consequently miss out on getting some tax back.

ozhappy981

Especially people on a 457 visa who often don't realise that they are eligible for the spouse tax offset (provided spouse's income is below the limit).

Big Man

Ozhappy can you tell me more about the spouse tax offset for the 457? My OH is actually the one on the 457 and I am therefore her spouse and am employed.

Thanks

ABCDiamond

If you earn more than $9,254 in the 2009-10 income year, you are not able to claim that offset.

Alan Collett

For a straightforward taxpayer with PAYG salary only the ATO's e-tax web based program is likely to be as good a strategy as any other.

I'd only add that you might get a value add from paying a tax agent if you are unsure about the availability of tax deductions, and/or have other financial issues which merit an annual review (eg mortgages, personal risk insurances, superannuation, etc) - assuming the person or firm that you instruct is in a position to offer these services.

Best regards.

kar-kier

I THINK we got that last year, my question in now . . . what happens if you change visa (to PR) during the year, do you get it pro rata?

Alan Collett

Were you taxed as a resident last year?

Best regards.

kar-kier

Yeah, on a 457, but classed as a resident for tax purposes.