tax question
Just been trying to get thru to the ATO with no luck so I thought I'd ask here!
My hubby and I want to open a high interest savings account so we can transfer some funds over from the UK.Obviously we'll earn interest on the money but,as I don't work,can I use my tax threshold($6000 I think) so that we don't pay any tax on the first $6000 that the account earns? or will the savings have to be in my name only to do this? Hope I've explained that right!! Thanks,Denise. |
Re: tax question
Originally Posted by bushy
(Post 4516125)
Just been trying to get thru to the ATO with no luck so I thought I'd ask here!
My hubby and I want to open a high interest savings account so we can transfer some funds over from the UK.Obviously we'll earn interest on the money but,as I don't work,can I use my tax threshold($6000 I think) so that we don't pay any tax on the first $6000 that the account earns? or will the savings have to be in my name only to do this? Hope I've explained that right!! Thanks,Denise. HTH |
Re: tax question
Thanks for that OzSheila! It felt just like home hanging on for the Tax Office to answer!!
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