paisleylass Posted May 31, 2012 Share Posted May 31, 2012 Hey all, I have a dumb tax question. Today in work, one colleague went home early to 'do' her tax, and then my boss told me she was taking tomorrow off to do the same. Both mentioned piles of invoices and receipts, and I was told everyone does a tax return. I checked the ATO website and it seems even I, a lowly 457 dependent on a salary with PAYG tax, have to complete a return. I guess this is a good thing as I reckon I'm owed some cashback, having been out of work for 3 months. So, if I have no deductions like work travel/equipment etc, do I just declare what I have earned since becoming a resident for tax purposes and attach all my wage slips? Gotta start on the stupid UK return at some point too gahh! Link to comment Share on other sites More sharing options...
NickyNook Posted May 31, 2012 Share Posted May 31, 2012 You don't have to attach payslips. Your employer will give you a Payment Summary (it used to be called a group certificate) which details what they've paid you and how much tax they deducted. This is the only employer paperwork you need for a basic tax return. You will also need details of any other income (interest earned, dividends and the like). You might be able to claim for the other odd item - you need to read the tax return instructions. I'm a bit baffled why people are apparently doing their tax returns now, though. No-one gets their payment summaries before June 30th so nothing can be done until after then. Link to comment Share on other sites More sharing options...
paisleylass Posted May 31, 2012 Author Share Posted May 31, 2012 You don't have to attach payslips. Your employer will give you a Payment Summary (it used to be called a group certificate) which details what they've paid you and how much tax they deducted. This is the only employer paperwork you need for a basic tax return. You will also need details of any other income (interest earned, dividends and the like). You might be able to claim for the other odd item - you need to read the tax return instructions. I'm a bit baffled why people are apparently doing their tax returns now, though. No-one gets their payment summaries before June 30th so nothing can be done until after then. Cheers! Though I am in my second job and not sure getting a payment summary from employer #1 would be easy but I have payroll's email so can try ) - or is it sent automatically like a P60? Boss said folk can get their tax sorted through payroll in the final June payment so there is a big rush on, I don't know the mechanics of it, maybe it's something Government workers can do, I dunno. Just as long as it's basic, the UK return for renting looks a nightmare, I've resolved to spend a few quid on software to handle it! I am determined to get that nonsense stopped (sell or leave empty) if/when we go permanent! Link to comment Share on other sites More sharing options...
Rupert Posted May 31, 2012 Share Posted May 31, 2012 Hey all, I have a dumb tax question. Today in work, one colleague went home early to 'do' her tax, and then my boss told me she was taking tomorrow off to do the same. Both mentioned piles of invoices and receipts, and I was told everyone does a tax return. I checked the ATO website and it seems even I, a lowly 457 dependent on a salary with PAYG tax, have to complete a return. I guess this is a good thing as I reckon I'm owed some cashback, having been out of work for 3 months. So, if I have no deductions like work travel/equipment etc, do I just declare what I have earned since becoming a resident for tax purposes and attach all my wage slips? Gotta start on the stupid UK return at some point too gahh! I wouldn't get your hopes up too high about a refund, I would have thought the PAYG system would have allowed for any gaps in employment. And I also am very puzzled as to what on earth your colleagues could be doing before the end of the tax year! Link to comment Share on other sites More sharing options...
RockDr Posted May 31, 2012 Share Posted May 31, 2012 I wouldn't get your hopes up too high about a refund, I would have thought the PAYG system would have allowed for any gaps in employment. And I also am very puzzled as to what on earth your colleagues could be doing before the end of the tax year! The PAYG system just charges tax assuming you'll be earning that same amount for every month of the tax year, so if you have a gap in employment or get a payrise, then you'll probably be getting a refund. I also don't get what you can do before the end of the tax year, I didn't even think this year's software was sorted yet? To answer an earlier question, provided you've not changed address since leaving previous employer, then you should get a payment summary automatically through the post. Link to comment Share on other sites More sharing options...
paisleylass Posted May 31, 2012 Author Share Posted May 31, 2012 The PAYG system just charges tax assuming you'll be earning that same amount for every month of the tax year, so if you have a gap in employment or get a payrise, then you'll probably be getting a refund. I also don't get what you can do before the end of the tax year, I didn't even think this year's software was sorted yet? To answer an earlier question, provided you've not changed address since leaving previous employer, then you should get a payment summary automatically through the post. Re. PAYG, that's what I figured as there's no equivalent to a P45 here so the employer has to make an assumption! I am going to try and find out why the sudden panic about tax returns today, v curious. I am at the same address so no issue with the payment summary - they tend to email payslips etc anyway ) Link to comment Share on other sites More sharing options...
Rupert Posted May 31, 2012 Share Posted May 31, 2012 The PAYG system just charges tax assuming you'll be earning that same amount for every month of the tax year, so if you have a gap in employment or get a payrise, then you'll probably be getting a refund. Yes understood, however if OP was working at the end of the tax year and sounds like they are, I thought it would have righted itself by now. Well the UK system would have, perhaps it is different here.:biggrin: Link to comment Share on other sites More sharing options...
paisleylass Posted June 1, 2012 Author Share Posted June 1, 2012 Yes understood, however if OP was working at the end of the tax year and sounds like they are, I thought it would have righted itself by now. Well the UK system would have, perhaps it is different here.:biggrin: Nope, hasn't righted itself at all - neither emoyer has any knowlwdge of my time as a resident for tax purposes or previous pay/tax (or lack thereof) - as I said, no P45 type thing which corrects your tax in the UK. It appears the tax return does that job so one has to wait a while. Hope it comes through in time for holidays! Link to comment Share on other sites More sharing options...
RockDr Posted June 1, 2012 Share Posted June 1, 2012 You became tax resident when you entered the country. just wait for the payment summaries to come through and then download the taxreturn software. Then it's just a case of type the contents of "box A" here. etc. Pretty straightforward. Link to comment Share on other sites More sharing options...
paisleylass Posted June 1, 2012 Author Share Posted June 1, 2012 Ace, cheers RockDr, sounds simple just like me! Link to comment Share on other sites More sharing options...
RockDr Posted June 1, 2012 Share Posted June 1, 2012 Oh and if you have any savings accounts you'll get an interest summary which you also have to declare. Again, really straightforward. It only really gets complicated if you're self-employed or have investment properties etc, which as a 457 holder I'm assuming you don't... Link to comment Share on other sites More sharing options...
paisleylass Posted June 1, 2012 Author Share Posted June 1, 2012 Yeah we have savings, we already have some money deducted from interest, I assumed that was for tax? It's weird amounts though, like $1.00 for $14 interest, $2.00 for $26 interest - but I'm not bothered as it's all piddling amounts. Got payslip from first pay at new job yesterday, they have me at full tax no thresholds so the TFN declaration must have gone adrift! Oddly I also got paid 28 hours holiday from the previous job with no tax deducted at all - curious. Peh, it's all swings and roundabouts. Link to comment Share on other sites More sharing options...
Gethsemene Posted June 2, 2012 Share Posted June 2, 2012 So as I started work in mid march when I submit my tax return on my earnings ($110k PAYGW) will I get the bulk of the tax I have paid back? Basically it comes down to, is the tax free threshold pro rata or is it a concrete value per year (as per the UK)? Link to comment Share on other sites More sharing options...
paisleylass Posted June 2, 2012 Author Share Posted June 2, 2012 So as I started work in mid march when I submit my tax return on my earnings ($110k PAYGW) will I get the bulk of the tax I have paid back? Basically it comes down to, is the tax free threshold pro rata or is it a concrete value per year (as per the UK)? It's pro rata from when you arrived (or got your TFN?) but I'm sure I read somewhere the marginal rates are fixed?? Meaning you could be refunded some tax paid at the highest rates. I hope this is true as the husband might get some cash back too ) Link to comment Share on other sites More sharing options...
Alan Collett Posted June 3, 2012 Share Posted June 3, 2012 Yeah we have savings, we already have some money deducted from interest, I assumed that was for tax? It's weird amounts though, like $1.00 for $14 interest, $2.00 for $26 interest - but I'm not bothered as it's all piddling amounts. Got payslip from first pay at new job yesterday, they have me at full tax no thresholds so the TFN declaration must have gone adrift! Oddly I also got paid 28 hours holiday from the previous job with no tax deducted at all - curious. Peh, it's all swings and roundabouts. If you have provided the bank with your Tax File Number and an Australian address Aus bank interest should be paid to you on a gross basis. The amounts you have mentioned appear to be based on 10% withholding tax - which applies to Aus bank interest paid to a UK resident. Best regards. Link to comment Share on other sites More sharing options...
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