chelly77

Hi Guys,

I have been looking every where for a list of what you can claim back from the TAX man. Me and the other half are both in IT and have private health insurance.

We arrived in Jan so this is all new to us. Can anyone out there give us some ideas?
We are also thinking of stopping out private health insurance as its costing us a fortune, can we calim all this back? Is it worth keeping?

James516

Strongly recommend you use an accountant until you are familiar with with system.

Sherlock Holmes

I would have to echo the above post. However, try to get a personal recommendation. None of the ones who advertise on the tele apppear much good.

Good tax accountants don't charge you a fortune but may well save you one.

Depends on where you live and how good your local services are but I don't have private insurance and haven't had a problem with health care. Make sure you have ambulance insurance (unless you are in Queensland where it is taken on your electricity bill )

Willij

Unfortunately, the list have of what you can and can't claim is quite complicated and the ATO keeps tweaking the rules every year, making it even more difficult to follow.

The Henry review last year made a long list of recommendations that would have greatly simplified tax returns for the majority. Mr.Henry has now walked away and the chances of any of the recommendations being implemented is virtually zero. I suspect that this may be related to the large number of companies that are currently employed in providing a tax return service.

Have to agree as well with the comment re the quality of tax return service provided. To give an example, one company pays it's employees $15 an hour, puts them under a lot of pressure to complete 2 returns per hour and charges the client a minimum of $150.

Try to get personal recommendations for an agent if you can.

chelly77

Cheer's for the reply's guys

ABCDiamond

The private health insurance premiums are almost certainly already net of tax, so nothing more to claim.

As others have said use a Tax agent, but not the ones who do a 10 week part time course and become experts.

Work mate recommendations are always handy.

After the first year or two you may be able to do it yourself, copying what they do, so paying the extra in the 1st year, to get a good one, may pay future dividends.

fish.01

If you are not already, make sure you keep "all" medical receipts right down to buying headache tablets in a chemist. (Buying in a supermarket is not claimable but cheaper in the first place).

Also keep receipts for anything that helps you earn a living including trade magazines, newspapers bought for looking for work/keeping up to date with industry etc.

As you work in IT you may be able to claim part of your ISP charges, printer consumables etc and also depreciate any tech stuff you buy if used at all for work.

Make sure you are registered to the same medical safety net account - you used to have do it through a website even if you were all on the same medicare card - not sure if still necessary.

It sounds like you don't have children so should be a lot simpler but less to claim.