Jen1977ni

Here we go, another TAX thread lol

Tell me this, this is our first year in Australia, having arrived at the beginning of February, I'm aware that the Australian tax year ends at the end of June, so when should we be seeing an accountant/tax advisor and when does the tax return thingymajigger need to be in by? In other words, what do we have to do and when do we have to do it!?

Sorry, Jenny (the doh bag!)

ABCDiamond

Tax return must be done by end of October.

Should you see an accountant ? Depends on your situation, and whether you can do it yourself using the online Tax pack.

If you do use a tax agent, it should cost about $100 +/- per return

You would see one after July 1st, when you have all relevant paperwork.

Wol

Unless you have complications, the ATO eTax return is very straightforward - it does it all for you. You can leave the return at any stage and it picks up where you left off: at the end you click and it goes into the ATO. Any refunds are paid into your bank a week or two later - in my case I get an underpayment demand but...........

Best to leave doing it until say August, when you will have all the data from banks, health insurance etc. Also, in subsequent years, don't put in the return until a week or two after you have paid the last quarter's tax for the previous year because it gets mixed up and you will get into a circular demand situation!

Jen1977ni

Flip me, how confusing is all of this!? Is there a website which explains how it all works so I have some sort of clue before I start, or would I be best to get that Aussie Tax for Dummies book?

kporte

the book will cost $40! just go into a shopping centre at the time and go to a tax stand. they do it all for under 100 and you can put that into next years claim. easy peasy lemon squeezy

Jen1977ni

A tax stand in a shopping centre?!

Wol

The trouble with any tax book is that it will try and take every possible circumstance into account (and, incidentally, fail to do this) so making the subject look so complicated that you throw in the towel and pay someone to do it.

But most people have pretty simple returns and 90% of the book is irrelevant to them.

Since the ETax return guides you through the whole procedure why not download it after 1st July and work through it - if it's too complicated nothing lost: just ignore it and go to an accountant. But you will still have to dig up all the exact same numbers for him anyway!

kporte

yes, they set up every year at tax time, cant miss em!

bcworld

Speaking of tax....anyone else waiting in the ATOs never ending queue for a refund cheque.

Submitted mine on Jan 25th - still waiting.

They were congratulating themselves on their website this week for managing to send out a huge stack...but I've just read on the ABC turns out they forgot to include the refund cheques on 140,000 of them!

sparkley23

yes you can go to a tax stand in a shopping centre or to one of the chain places like HR Block. I did that for years and got very small returns. Then I went to a proper tax accountant who redid two years worth of returns that HR Block had done wrong and suddenly I got a very nice refund indeed. It pays to find a good tax accountant imo.

Bobbin

still waiting for mine too

OzSheila

I got mine this week - return had only been lodged a couple of weeks. OH didn't get his though. Both returns lodged same office; same day; similar refunds due. Go figure.

bcworld

Queue jumper!

http://www.ato.gov.au/corporate/cont...t/00237376.htm

Centurion

You claim back the cost of using an accountant to do your tax on the next year hence its worthwhile doing. Go and see a reputable company rather than being reliant on a stall in the shopping mall. They will easily save you more than the fee to see them by making claims for things you didn't even realise you could.

They also will lodge the return electronically for you and its a single painless 1 hour interview. Just take all details of your income and expenses that you think you may be able to claim back. Laundry for work clothes ? Sunglasses ? Sun screen ? All these things are claimable, and most you don't need receipts to claim as well - that's where a decent accountant comes into their own.

That way you don't have to worry. Yes, you COULD do it yourself. By really it's not costing you anything in the long run to use a professional.

JoeBloggs80

Can you seriously claim tax back for stuff like that?

I've never done a tax return in my life, although I did once call up the inland revenue on a whim and got a cheque for a few hundred quid a month later.

I don't have a house or kids or health insurance or anything so presumed my taxes are as run of the mill as possible and never thought I could claim anything back. I use suncream though! But would you say that anyone could get some form of rebate no matter what?