Oz Tax Returns.....???

[KathK]

....what can we claim back for & what receipts do we need to keep? I know its still 9 months away but want to be prepared!

 

As newbies to Oz, and thankfully at start of tax year, want to make sure I don't throw away we might need next year when we do our first tax return.

 

Have looked at Govt website but so many pages wasn't sure where to start looking!

 

Someone told me we can claim back for kids school clothing & books/stationery & even travel to school etc, as well as work expenses? What sort of work expenses?

(I need an easy to read booklet which summarises it all for me!)

 

Any advice would be appreciated.

 

Kath x

[Alan Collett]

There are no "easy to understand" booklets relating to tax ... sorry!

 

Start at the ATO website: Australian Taxation Office Homepage

 

Maybe work your way through their e-tax service and see how you go?

 

And then consider engaging someone to assist if it becomes too difficult, maybe for the first couple of years.

 

Best regards.

[Quoll]

As Alan said, just work through the ATO booklet and get someone else to do your first return for you!

 

This is the education tax refund page Education Tax Refund - What educational expenses can I claim? so you can see if you are eligible and what you can claim for - and no, you cant claim for school uniform.

 

Be more worried about keeping your own work incurred expenses, log of driving for work which does not include to and from work, telephone calls for work, journal subs, professional books, conferences etc

[Eera]

A halfway decent income tax consultant will walk you through everything and tell you what you can claim, when you book the appointment tell them you've never done this before and they'll give you some extra time with the person. In the meantime keep all receipts. You can claim for laundering work uniforms (unreceipted, but they have to have a company name on to count, ordinary clothes don't, apparently). You can claim extra tax back if you live in a regional area, lots of things that you don't think about.

 

Don't attempt to fill in the tax form yourself unless you have a really, really good idea of what you're doing. A consultant will cost about $100 to do it for you and you can claim the cost back the following year.

[Quoll]

Gosh, I wish I had your tax accountant! The going rate around here is about $300 but, as you say, you can claim it back the next year.

[Guest Prickles83]

Does everyone have to do a tax return in OZ ? Does it matter which visa you are on (457)?

[fish.01]

Also keep all your medical receipts....right down to buying panadol at the chemist.

[Guest Prickles83]

I think I have just realised i know nothing about tax!

[fish.01]

Does everyone have to do a tax return in OZ ? Does it matter which visa you are on (457)?

 

If you are a resident for tax purposes (which is different to a permanent resident) you will have to do a tax return. This page may help you to determine whether you are/will be a resident for tax purposes: Residency

[fish.01]

I think I have just realised i know nothing about tax!

 

Get a big shoe box and throw it "all" in. :wideeyed:

[sami]

Yes, even on a 457 you are considered Resident for tax purposes!!

[Mongrel]

Yes, even on a 457 you are considered Resident for tax purposes!!

 

If you are sponsored and have not had relocation expenses paid for you can claim the flights , shippin ,even claim for rekky expenses on the tax , easiest go thro atax agent there more in the fone book than hairdressers usually cost around 100 bucks and you claim that against next years

[Alan Collett]

A halfway decent income tax consultant will walk you through everything and tell you what you can claim, when you book the appointment tell them you've never done this before and they'll give you some extra time with the person. In the meantime keep all receipts. You can claim for laundering work uniforms (unreceipted, but they have to have a company name on to count, ordinary clothes don't, apparently). You can claim extra tax back if you live in a regional area, lots of things that you don't think about.

 

Don't attempt to fill in the tax form yourself unless you have a really, really good idea of what you're doing. A consultant will cost about $100 to do it for you and you can claim the cost back the following year.

 

A tax consultant who charges $100 is probably not going to be familiar with the issues that often accompany migrants to Australia, such as the FIF Rules, rental of UK based property, the special tax provisions affecting those who are in Australia on temporary residency visas, etc.

 

If s/he is - great. But be aware. Caveat emptor, and all that ...

 

Best regards.

[Alan Collett]

If you are sponsored and have not had relocation expenses paid for you can claim the flights , shippin ,even claim for rekky expenses on the tax , easiest go thro atax agent there more in the fone book than hairdressers usually cost around 100 bucks and you claim that against next years

 

Hmmm ... I'd not be so sure about that.

 

Have a look at various Rulings on the ATO website.

 

See also my posting above re $100 tax agents.

 

Best regards..

[Alan Collett]

Yes, even on a 457 you are considered Resident for tax purposes!!

 

But also a temporary resident, with special tax rules applying as a result in respect of any overseas derived income and capital gains.

 

Best regards.

[Alan Collett]

Hmmm ... I'd not be so sure about that.

 

Have a look at various Rulings on the ATO website.

 

See also my posting above re $100 tax agents.

 

Best regards..

 

Further to the above post, here is an ATO issued Private Ruling extract that is relevant:

Private Ruling Number 30446

 

There are several more Private Rulings which confirm that travelling to Australia for the purpose of working is generally not a deductible cost. The key text here is:

 

"For expenditure to form an allowable deduction as an outgoing incurred in gaining or producing the assessable income it must be incidental and relevant to that end. The words "incurred in gaining or producing assessable income" mean in the course of gaining or producing such income."

 

Private Rulings are specific to the taxpayer who applied for it, and should be read in that context. They do though give a good indication of the ATO's line of thought on various issues.

 

If amounts are material, take professional advice, and consider seeking a Private Ruling from the tax office.

 

Best regards.

[Guest Prickles83]

okay I really don't have a clue now!

From all of the above i've worked out that on a 457 visa i have to:

* complete a tax return every year but there are special tax rules for people on a temporary visa.

* I should keep hold of everything (receipts etc)

* then go and see someone knowledgable in tax related stuff and ask their advice

* because i probably won't be able to claim any of the relocation costs back

* the cost of this service is going to be more than $100

* but I can claim that back next year?

 

Have i got that right?.... starting to think 90 days is not enough on tax related stuff never mind everything else !

[KathK]

....and I thought this was a straight-forward question?! Sounds to me like we just need to keep work expense receipts predominantly? (but as OH has a company Ute, laptop, phone, Go Via tag & petrol paid for him, and no uniform to speak of, doesn't sound like we'd qualify for much back? He has bought a few more work tools since being here, so guess that may be our lot?)

 

I only wanted to know what I needed to keep, I prob will engage a professional to help us out when the time comes, but wanted to be prepared (usually once I've checked my receipts back to my bank statement I chuck 'em away, so guess I'm getting a shoe box.....!)

 

thanks for all the advice tho

 

Kath

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