movingback Posted July 21, 2016 Share Posted July 21, 2016 I've just filled out my online tax return (not lodged yet) and have come out owing $7000 I think its because I've been working at 3 different jobs and tax already deducted is less than it would have been if my total income was only from 1 job. I've deducted some self education expenses and clothing allowance. Anyway know of any other deductions that I may have? I might go see a tax accountant and see if there's something else I'm missing. I expected to pay some but this is a lot more than I was expecting. Its all a bit depressing! Quote Link to comment Share on other sites More sharing options...
Guest Posted July 21, 2016 Share Posted July 21, 2016 PHI if tax wasn't rebated by the company (it usually is though) Private pension payments Long shot but any UK rental property expenses? Were you working all three jobs at the same time? Quote Link to comment Share on other sites More sharing options...
Wa7 Posted July 21, 2016 Share Posted July 21, 2016 I've just filled out my online tax return (not lodged yet) and have come out owing $7000 I think its because I've been working at 3 different jobs and tax already deducted is less than it would have been if my total income was only from 1 job. I've deducted some self education expenses and clothing allowance. Anyway know of any other deductions that I may have? I might go see a tax accountant and see if there's something else I'm missing. I expected to pay some but this is a lot more than I was expecting. Its all a bit depressing! Get yourself to a decent accountant with exact figures of what you have earned, if you are organised with your paperwork it should only cost between $150 - $300 and they should be able to knock atleast $1000 off that if not more. Quote Link to comment Share on other sites More sharing options...
Diane Posted July 21, 2016 Share Posted July 21, 2016 It may be that you have been claiming the Tax Free Threshold from all three jobs... you should only claim it from one. Quote Link to comment Share on other sites More sharing options...
Bungo Posted July 25, 2016 Share Posted July 25, 2016 Get yourself to a decent accountant with exact figures of what you have earned, if you are organised with your paperwork it should only cost between $150 - $300 and they should be able to knock atleast $1000 off that if not more. No tax accountant ever saved me a penny. If tax is being deducted correctly at source there is no refund and if tax is underpaid at source it will result in a bill. OP, if there has been an error such as claiming three lots of threshold you simply need to face up to the bill, perhaps you can arrange for instalments. Why do you think clothing allowance and self education is allowable. Only training directly related to the performance of your job is allowable and the ATO does not give general "clothing allowances" although if you had to pay for your own uniform or safety wear that would be. Quote Link to comment Share on other sites More sharing options...
Wa7 Posted July 25, 2016 Share Posted July 25, 2016 No tax accountant ever saved me a penny. If tax is being deducted correctly at source there is no refund and if tax is underpaid at source it will result in a bill. OP, if there has been an error such as claiming three lots of threshold you simply need to face up to the bill, perhaps you can arrange for instalments. Why do you think clothing allowance and self education is allowable. Only training directly related to the performance of your job is allowable and the ATO does not give general "clothing allowances" although if you had to pay for your own uniform or safety wear that would be. That may be true in your case. i know several people who have attempted to do their own tax, all of them upon using an accountant have paid either less tax or got a bigger refund. ........I am not guaranteeing anything but absolutely recommend op see an accountant. Quote Link to comment Share on other sites More sharing options...
vickyplum Posted July 25, 2016 Share Posted July 25, 2016 Book yourself an appointment with someone like H&R Block. It cost me $135 and took about 30 min. Got rebate paid into bank account just over 1 week after lodgement of my return. Quote Link to comment Share on other sites More sharing options...
Bungo Posted July 25, 2016 Share Posted July 25, 2016 That may be true in your case. i know several people who have attempted to do their own tax, all of them upon using an accountant have paid either less tax or got a bigger refund. ........I am not guaranteeing anything but absolutely recommend op see an accountant. And that is what I am saying. That it is case by case. Your post might have led someone to think that using an accountant can secure a $1,000 refund. In fact employees have few legal possibilities for reducing tax. Quote Link to comment Share on other sites More sharing options...
Wa7 Posted July 25, 2016 Share Posted July 25, 2016 And that is what I am saying. That it is case by case. Your post might have led someone to think that using an accountant can secure a $1,000 refund. In fact employees have few legal possibilities for reducing tax. At no point has anything been guaranteed in my post, " should " is not a guarantee. Your post could lead us all to not use accountants anymore because no accountant has ever saved you a penny........ Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted July 25, 2016 Share Posted July 25, 2016 You are being taxed as a resident, or as a non resident? Agreed that the responses on the Tax File Number Declarations provided to your employers might be impacting the net position too. Best regards. Quote Link to comment Share on other sites More sharing options...
Bungo Posted July 26, 2016 Share Posted July 26, 2016 At no point has anything been guaranteed in my post, " should " is not a guarantee. Your post could lead us all to not use accountants anymore because no accountant has ever saved you a penny........ I did not say you guaranteed it. But you said "should" which is a pretty strong word. There is no "should" about this, there is no reason whatsoever to think that an accountant "should" be able to get tax bill down. It depends on what has been deducted already and in fact based on what OP has said I wiuld be inclined to think this bill might go up if it is properly looked at and the "clothing allowance" and "self education" is not allowable. Quote Link to comment Share on other sites More sharing options...
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