Oz Tax Returns... Again... Confused newbies here

[LadyCroft]

I have a few questions so I thought I would just ask them all here so we don't mess up.

 

I am currently not working, looking after our little ones for now and have not worked since we arrived around 6 months ago so I have not made any money. Husband has been working for a company since we arrived. We don't have any income from the UK eg house rented or anything like that.

 

We have heard that everyone in Australia does their own tax return every year unlike in the UK where it is just self employed. When do we have to do our tax returns?

Do I have to do a tax return even though I'm unemployed? Not sure what to do here.

Is it best to use an accountant since we have NO idea what we are doing?

 

Help please :smile:

 

I am freaking out over all the little details that I don't know how to do since we got here. Medicare, tax, Centrelink, childcare fees. I think I am going to lose it and am waking up during the night panicking and just wishing I had stayed at home :-( That is another issue though.

[AJ]

You dont have to do a tax return. For your husbands, spend $150 and get a tax accountant to do it for you, they know what you can claim for and will stop you stressing! I think you need to do it after 30th June and before October not sure if its beginning or end October so plenty time, but the quicker you do it the quicker its out the way and if he is due a refund you will get it really quickly

Edited May 29, 2014 by AJ

[flag of convenience]

If no earnings made then no need to do a tax return. This includes off shore earnings that may be in your or joint names as well. Such as rented out housing. If your partners is pretty much straight forward it is hardly necessary to employ a tax accountant. It can be submitted on line.

 

We do our own as a rule apart from some more complicated tax years when professional advice is paid for. That is a deduction of the following years tax return as well.

[AJ]

No you dont need one if its straightforward but obviously the OP is stressing about it so whats $150 to make her feel a bit better!

[blossom]

Spending $150 wouldn't make me feel better on one wage lol.

If he is employed I'd just do it online. It is easy.

[Skani]

Your husband will have to do one - after 30th June but before 31st October. His employer will supply him with a statement of earnings for the financial year to the 30th June.

 

If I were him I would pay a Tax Agent to do the first one so that he is sure he is not missing anything in the way of rebates or claimable deductions. Then he can follow that to do the subsequent years himself if he wishes.

The Tax Agent's fee can be deducted in the subsequent year's tax return. You will see them advertising everywhere near the end of the financial year...or ask his colleagues for a recommendation.

[Alan Collett]

https://www.ato.gov.au/Forms/Non-lodgment-advice-2012-13/

 

Always best to submit a Non Lodgment Advice if there is no income to report - this is the link for the 2013 version of the form; a new one will be available soon for the 2014 version.

 

The deadline for submission of a personal income tax return in Australia is 31/10 after the end of the tax year if you do not appoint a registered tax agent.

 

If you appoint a registered tax agent you can usually access the tax agent's extended lodgment program, often allowing until 15/05 following the end of the tax year to submit your tax return.

 

Payment of fees to a registered tax agent for the management of your Australian tax obligations are a tax deductible expense, on a fees paid basis. In other words, a fee paid to a tax agent in 2014/15 for assisting with your 2014 tax return is tax deductible on your 2015 tax return.

 

And if in doubt as to your obligations speak with a registered tax agent.

 

Hope this helps!

[rosiew]

After your husband has submitted his tax return, The tax office will send his income details off to Centrelink. They will check that they have paid you enough family tax benefit. Your Medicare levy all gets taken care of in the tax return.

 

As long as you applied for your childcare rebate then stop worrying:wink:

[LadyCroft]

Thank you all sooooooooooo much.

Seriously, I just felt my shoulders relax down from my ears (slightly - I am wading through all the stuff I have not got round to dealing with since we got here) so at least I am in the loop now.

 

My other half is the polar opposite to me and is waaaaay laid back until it reaches the last minute then he goes "Well.... Did you sort that then?" so I like to know what we should be doing. There is a lot of stuff that you don't realise you have to do before leaving the UK when your head is busy with the "Which shipping company should we use? Should we ship the kitchen sink???" stuff.

 

Thanks. I will let him know the dates and you are right - his workmates will all be doing theirs too so he will be able to ask them nearer the time. Just helps to know what is going on.

[Chortlepuss]

We did our own tax returns when we got here - then switched to an accountant as I found it too stressy. We used Quick tax and worth their weight in gold for the small amount they charged us. There is so much to claim here against tax (for instance my hubby's colleague claims her sun cream!) I would absolutely recommend using an agent.

[blossom]

We did our own tax returns when we got here - then switched to an accountant as I found it too stressy. We used Quick tax and worth their weight in gold for the small amount they charged us. There is so much to claim here against tax (for instance my hubby's colleague claims her sun cream!) I would absolutely recommend using an agent.

Yep, I claim for sunscreen (I work out doors) and sunglasses, wet weather clothing etc. Different occupations are able to claim for different things.