Tax returns in Oz

[Guest mandy1]

Hi all

Just a question about the tax returns system in Australia.Does evryone fill one in whether they are working or not? How do you get one? Also what reciepts should we be keeping?

Many Thanks

Mandy x

[Stuju]

Hi mandy, Yes if you are working or not

I did mine online last year - it takes a bit of getting used too, i dont think i claimed for everything i should have done according to the guys that i worked with at the time, yes you can put in some receipts - gues just keep it all for now.

Perhaps some of the folk that have been here in oz a long time might be able to gibe us some tips.

gizmo

[calNgary]

I paid an account to do Garys and this year i can claim her fee back!! i was told i didnt have to do one as id earnt less than $5,000 that financial year.

Cal x

[Quoll]

For all that the ATO would like us to think that tax is simple - it aint!!!! To see if you need to lodge a tax return have a look here there are several reasons given as to why you should/shouldnt just follow the links down the right hand side of the page. Usually, if you are not in receipt of an income then no you dont need to.

 

The ATO site is very good if you go slowly through it.

 

Remember that in Aus, income from savings accounts is counted as income and is taxed accordingly - so if you bring in a whole lot of equity from selling a UK property for example and whack it into a savings account at 8% then the interest on that is counted as income and you have to declare it as such.

[Guest Jaynie]

Things you can claim for

 

Sunscreen, (work outside)

Sunglasses (if you work outside)

Laundry (work uniform)

Charity donations

Work shoes (certain types you have to check)

Works tools

 

Maybe some others might know some more, the ATO website is quite okay to work through, you download the returns and read through each section. You can claim back the following year if you paid an accountant, however,you don't really see much of the refund, so it might be worth doing the online submission. I have done this for the last few years and it's pretty easy and if you make a mistake you can go back and change it before the final submission. You wait about 2-3 weeks for the refund to go into your account, but if you do it straight away in July as soon as you get your tax paid document from your employer, you might wait a little longer for the refund as this is the busy period.

 

If you don't want to chance doing it yourself, it might be worth paying out for an accountant to do your first return and self employed people or anyone with another house as an investment really need to see one as they are complicated returns to do.

 

Hope this helps.

 

Jayne

[Quoll]

Oh there are heaps of things you can claim for - professional library, home office expenses, union or other professional memberships, conference and workshop attendance, work stationery, telephone calls that are work related, percentage of mobile rental in proportion to work usage, mileage between work places not to and from work etc etc. I think it is useful to get a tax agent to do it at least once then you have a baseline to work with. In the next tax year you can claim back the cost of the accountants fees. If your claim is very simple then the online way is easy as pie but as soon as you start having international income or loads of shares etc then it gets a tad tricky.

[Guest mandy1]

Hi all

Thanks for the info. Tax is never simple wherever you are is it!

Mandy x