Wave the Sails

Is it end of June (end of financial year)?

TIA

ABCDiamond

The tax year end is 30th June, and if you prepare your own tax return it has to be lodged by October 31. Any tax payable will not be due before November 21.

Using a Tax Agent, to prepare and lodge your return, can extend that lodgement date, and the due date for payment will be determined by their lodgement program, and will be printed on your notice of assessment.

(Dates based on 2004/2005)

Wave the Sails

Thanks thought you might know!!!

rossifumi

You can do it online can't you?

Rich

ABCDiamond

Yes
http://www.ato.gov.au/individuals/pa...pc=001/002/014

You can lodge your tax return or baby bonus claim electronically using e-tax from 1 July 2005 to 28 February 2006.

However, by law you are required to lodge your tax return by no later than 31 October 2005.
Failure to lodge your tax return by this time means you may be subject to a failure to lodge penalty.

Rabc

Does everyone have to do that even if you are on PAYE or what ever it's called here?

Pomster

...just following from ABC Diamond's comment: the first year we did our own tax return and I had to pay extra. After that we found a tax agent and always manage to get a refund- he knows what he is doing/we didn't. Tax is not overly straightforward here!

ABCDiamond

Yes, you do.
As an individual, you are required to lodge an income tax return if:
You paid tax during the year.
or
Your taxable income exceeds $6,000 (ie: more than the the threshold)


Even if you earn less than the threshold, you still need to advise the ATO. They have a special lodgement form for those who don't need to lodge
http://www.ato.gov.au/individuals/co...tent/57266.htm


Although you can do the tax return yourself, it is advisable for all newcomers to use an agent at least for the first year, and find out what things are claimable.

Depending on your job, you may be able to claim sunscreen, sunglasses etc.,

Previous years tax returns can be revised in some circumstances.