Tax times - A question
#18
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#19
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Joined: Jan 2010
Posts: 188
Re: Tax times - A question
It isn't a flameing,it is a fairly common mistake.Tax tables are tax tables and computer systems are computer systems.Very difficult to go wrong.
If you only worked a short period and earned $6-7 K then the sum you have underpaid is around what you said.earning under $350 a week means tax free.
Ask your employer why there is such a shortfall in tax deducted.Did both employers pay you less than 40k per year or more.If your combined earnings took you over $80K then you move into the next bracket,each employer has been deducting tax at the appropriate rate but it still means a shortfall if you earn over 80K.If they paid you $50-$60 K each it is a decent shortfall in tax and medicare .
If you own shares then the dividend and franking credits can take you over $80k.The franking credits are not enough tax paid to cover it.If you are new to the country then you do not get the full year tax free allowance.There could be a wide variety of reasons.You gave very little info and that is the common mistake made,forgeting to tick the box.
Tax pack will tell you $1 per week is a reasonable claim for laundry,if it takes you over the general $300 allowance you will need receipts,your job will have specific deductions
Geordie downunder
If you only worked a short period and earned $6-7 K then the sum you have underpaid is around what you said.earning under $350 a week means tax free.
Ask your employer why there is such a shortfall in tax deducted.Did both employers pay you less than 40k per year or more.If your combined earnings took you over $80K then you move into the next bracket,each employer has been deducting tax at the appropriate rate but it still means a shortfall if you earn over 80K.If they paid you $50-$60 K each it is a decent shortfall in tax and medicare .
If you own shares then the dividend and franking credits can take you over $80k.The franking credits are not enough tax paid to cover it.If you are new to the country then you do not get the full year tax free allowance.There could be a wide variety of reasons.You gave very little info and that is the common mistake made,forgeting to tick the box.
Tax pack will tell you $1 per week is a reasonable claim for laundry,if it takes you over the general $300 allowance you will need receipts,your job will have specific deductions
Geordie downunder
#20
Forum Regular
Thread Starter
Joined: Jan 2013
Posts: 274
Re: Tax times - A question
Hi,
I paid $235.00 Death And Disability Premiums in one year out of my Qsuper. Is this tax deductable?
I paid $235.00 Death And Disability Premiums in one year out of my Qsuper. Is this tax deductable?
#21
Forum Regular
Thread Starter
Joined: Jan 2013
Posts: 274
Re: Tax times - A question
Can I claim a tax deduction for the premiums?
No. You won't be able to claim a tax deduction for insurance premiums, as the premiums are deducted from your QSuper account.
Insurance FAQs | QSuper
No. You won't be able to claim a tax deduction for insurance premiums, as the premiums are deducted from your QSuper account.
Insurance FAQs | QSuper