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Tax time tips!

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Old Jun 30th 2011 | 12:54 pm
  #16  
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Default Re: Tax time tips!

Originally Posted by Buzzy--Bee
The ATO seems to disagree with BT, don't you think -

http://www.ato.gov.au/individuals/co....htm&page=3&H3

BB
Nope.

http://www.ato.gov.au/individuals/co....htm&page=4&H4
 
Old Jun 30th 2011 | 2:23 pm
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Default Re: Tax time tips!

As from today, remember to keep all receipts for school uniform. Finally! Just as Tiddler finishes
 
Old Jun 30th 2011 | 8:52 pm
  #18  
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Default Re: Tax time tips!

Help.....first timer for lodging tax return here in Australia.....Any advice would be appreciated, people tell me it is simple to do online, but where do I start it all looks confusing!!!
 
Old Jun 30th 2011 | 10:00 pm
  #19  
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Default Re: Tax time tips!

Originally Posted by newlife_downunder
Help.....first timer for lodging tax return here in Australia.....Any advice would be appreciated, people tell me it is simple to do online, but where do I start it all looks confusing!!!
Very straight forward, you download the e-tax programme from the ATO website and follow the steps
 
Old Jun 30th 2011 | 10:36 pm
  #20  
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Smile Re: Tax time tips!

Originally Posted by Pollyana
Very straight forward, you download the e-tax programme from the ATO website and follow the steps
Or employ an accountant and get 4 x the rebate as they know all the tricks.

BB
 
Old Jun 30th 2011 | 10:51 pm
  #21  
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Default Re: Tax time tips!

Originally Posted by Pollyana
Very straight forward, you download the e-tax programme from the ATO website and follow the steps
But only if you are using Windows on a PC. :curse:

I've got a question, actually. What do I do if I don't have a group certificate (due to company going bust)? OH seems to think I can just submit all my payslips. Is that right? And are you supposed to have a group certificate from each employer you worked for over the year?

I can't put into words how angry this tax system makes me.
 
Old Jun 30th 2011 | 11:59 pm
  #22  
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Default Re: Tax time tips!

Originally Posted by Prudi
But only if you are using Windows on a PC. :curse:

I've got a question, actually. What do I do if I don't have a group certificate (due to company going bust)? OH seems to think I can just submit all my payslips. Is that right? And are you supposed to have a group certificate from each employer you worked for over the year?

I can't put into words how angry this tax system makes me.
it's great, you can claim all sorts of stuff

http://www.ato.gov.au/content/16023.htm
 
Old Jul 1st 2011 | 12:04 am
  #23  
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Default Re: Tax time tips!

Originally Posted by Buzzy--Bee
Or employ an accountant and get 4 x the rebate as they know all the tricks.

BB
Been there, tried that, got told that my job doesn't allow for any deductions, just pay the bill (again) :curse:

Originally Posted by Prudi
But only if you are using Windows on a PC. :curse:

I've got a question, actually. What do I do if I don't have a group certificate (due to company going bust)? OH seems to think I can just submit all my payslips. Is that right? And are you supposed to have a group certificate from each employer you worked for over the year?

I can't put into words how angry this tax system makes me.
Don't know the first answer, though I reckon you can do it from your payslips - has the last one got an income total on it? I know you should get a group Cert for every employer - I did my mate's return for a couple of years and he had more than one employer, so more than one Group Cert each time.

I hate the system too, used to think it would be fairer cos everyone told me about all this stuff you can claim for - not quite that fair though when it comes down to it as not everyone is entitled to claim all these allowances for kids, and pcs for schools, and sunscreen cos they work outside
 
Old Jul 1st 2011 | 12:05 am
  #24  
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Default Re: Tax time tips!

Originally Posted by fish.01
it's great, you can claim all sorts of stuff

http://www.ato.gov.au/content/16023.htm
Lets be honest - some people can claim for all sorts of stuff, some of us can't claim anything.
 
Old Jul 1st 2011 | 12:12 am
  #25  
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Default Re: Tax time tips!

Originally Posted by Prudi
But only if you are using Windows on a PC. :curse:

I've got a question, actually. What do I do if I don't have a group certificate (due to company going bust)? OH seems to think I can just submit all my payslips. Is that right? And are you supposed to have a group certificate from each employer you worked for over the year?

I can't put into words how angry this tax system makes me.
Administrator or receiver should give you a group certificate.

If you use an accountant and show them the payslips you don't have to do a stat dec.

Yes, one certificate from each employer.
 
Old Jul 1st 2011 | 12:49 am
  #26  
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Default Re: Tax time tips!

Originally Posted by Pollyana
Lets be honest - some people can claim for all sorts of stuff, some of us can't claim anything.
on the bright side you're probably not spending it to have to claim it. you just need to work out how to make beer an income producing expense.
 
Old Jul 1st 2011 | 4:10 am
  #27  
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Default Re: Tax time tips!

Originally Posted by Pollyana
Don't know the first answer, though I reckon you can do it from your payslips - has the last one got an income total on it?
Ah, good thinking! Yes, it has YTD info on it.

I know you should get a group Cert for every employer - I did my mate's return for a couple of years and he had more than one employer, so more than one Group Cert each time.
Great - I just didn't know if it worked like a P60 or not.

I hate the system too, used to think it would be fairer cos everyone told me about all this stuff you can claim for - not quite that fair though when it comes down to it as not everyone is entitled to claim all these allowances for kids, and pcs for schools, and sunscreen cos they work outside
Yup, I think last year we claimed for washing my OH's work clothes, and combined our incomes to be under the Medicare limit. And that was it.

Originally Posted by Bix
Administrator or receiver should give you a group certificate.
Yeah, but they have my name in their system as <surname> <surname>, so I don't hold much hope for getting a correct and timely group cert. I guess I have until October for them to get it right?!

If you use an accountant and show them the payslips you don't have to do a stat dec.
Ah, good to know. I think we might be going down that route this year.

Yes, one certificate from each employer.
Still three to come, then...

Thanks guys, I really love that I can ask dumb questions about stuff that's non-immigration related and get sensible answers. Cheers!
 
Old Jul 1st 2011 | 9:34 am
  #28  
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Default Re: Tax time tips!

Originally Posted by Buzzy--Bee
Or employ an accountant and get 4 x the rebate as they know all the tricks.

BB
Unfortunately that may not always be true. I've found that mostly they boilerplate things and cannot cope with complexity. I had to stop my first accountant here declaring my private UK pensions as a FIF when I first arrived. Due to the currency movements (falling $) he was trying to hand over $7k I didn't need to as they were still under the 6 month rule.

I know people will say I should have got another accountant but how many people have ever used 2 accountants in the same tax year? Not many I should think.
 
Old Jul 1st 2011 | 10:02 am
  #29  
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Default Re: Tax time tips!

Biggest and most consistent tip I can give. For those with Kids...If you earn less than 133,000 K joint income or there abouts and have 2 kids or more. Then there is more money available as tax concessions from Centerlink and Tax rebates than most people are fully aware off.

If there are a few voluntary medical procedures needed in your family, Then try and schedule those in one financial tax year.

Try and find an accountant that knows Centerlinks machinations. Those accountants are thin on the ground.

We turned a 5 year ongoing 7,000K debt into a refund with a change of an Accountant... We were already seeing a highly regarded independent accountant at that time that didn't handle Centerlink. . The reason we received the bill. We processed tax returns close to 24 months apart whilst the Wife returned to the work force to part time employment, and not notifying Centerlink of our changed circumstance..

We started a Monthly repayment plan and stopped claiming for the kids.. Which is how the the refund accmulated. The surplus came from 30 months of repayments after the first Centerlink bill. Throw salary Packaging into that mix and you have a 'mare of a time unravelling it.

Thing is we would have paid the debt off, Then gone back to claming from Centerlink all whilst seeing a supposedly highly regarded and recommended accountant, until we found someone that really knew Centerlink backwards and inside out. We would not have been able to get back pay from Centerlink on missed claims after a 24 month period.







.

Last edited by ozzieeagle; Jul 1st 2011 at 10:04 am.
 
Old Jan 26th 2012 | 4:55 pm
  #30  
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Default Re: Tax time tips!

Originally Posted by LouiseR
Not great for a non earning spouse. As the government states that at least 10% of their income must come from employment or a business to be eligible for the co-contribution.

http://www.bt.com.au/forms-and-calcu...ntribution.asp

I think I'm eligible for the government co-contribution as more than 10% of my income comes from wages.

However I work for myself so have no employer and I pay my tax at the end of the tax year so if I contribute to a super it would be before tax.

Is anyone else in this situation? I'm not sure what to do. I don't want to miss out on my $1000 but I can't seem to work out how to contribute and claim. I've read all the ATO website and the moneysmart website stuff but can't make sense of it. I called the moneysmart number but she said she didn't know and emailed me links to the websites I already looked at

Last edited by moneypenny20; Jan 26th 2012 at 5:07 pm.
 


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