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I supported Toymods
On probation
Location:
Brisbane, Queensland
Registered:
January 2003
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My Tax Sucks - Help
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Mon, 11 July 2005 23:23
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Howdy, just attempted doing my tax return after working full time for the first time in my life. E-Tax calculated a return of $247, now i don't know if that is correct but basicaly if somebody could give me some pointers or know how on ways to maybe boost that up a bit if at all possible? Cheers.
I work as a manager at McDonalds  I have 2 group certificates one from when i was still working casual the other for full time.
Gross Payments - 8568 - Withheld 1385
Gross Payments - 19586 - Withheld 3858
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$28154..........................................$5 243
Deductions wise i have nothing to show, or nothing i can think of. When i quickly did up a return before i put $50 for laundry and $80 for a pair of leather shoes. Apart from that i put $20 donations. Sadly that is about all i did. I have no HECS, no centrelink or any other government shit. No investments, interest earning bullshit. Maybe i'm just whinging but surely somehow i can get some more back?
Jake.
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Location:
Kita-Ku, Sapporo, Japan
Registered:
January 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 00:14
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now if you'd just paid about 10K for more tax, we can start to work on something 
basically if you have no deductions or self education expenses, AND you haven't paid much tax, then you are not gonna get much back..
if you pay 50% tax during year, it's like forced saving, and you get a nice lump sump to spend on cars (so just deselect this job as the one you are claiming tax free threshold on )
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I Supported Toymods
Location:
Lwr Templestowe, Melbourne
Registered:
August 2004
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 00:21
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sounds about right mate. I earned in the region of 29k last year with a tax of 10k. Tax return time was great. New engine in engine bay 
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Location:
Pilbara
Registered:
November 2004
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Location:
Kita-Ku, Sapporo, Japan
Registered:
January 2003
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 01:24
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I'm pretty sure that was ticked.
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Location:
Kita-Ku, Sapporo, Japan
Registered:
January 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 02:52
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oh, well you can call the ATO and find out.. doesn't hurt
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Location:
sunny coast, qld
Registered:
October 2002
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 03:02
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It all works out the same in the end anyway. If you don't use the tax free threshold on your job then you get taxed at a higher rate and therefore receive less money per week (because more tax is paid) and then at the end of the year you feel great because you get a big refund. (Because you paid more tax than what you were supposed to.)
I am an accountant and I can claim all my self education expenses which helps a lot. You can only do this if there is a direct connection between your study and your current income earning job. So if I wasn't studying then I would also get shit all back.
You can claim up to $150 for laundry per year without receipts but you have to be able to substantiate the claim.
Do you do any travelling from store to store? If so, you can claim these km's at set rate per km without receipts.
That is about it that I can think of quickly 
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Location:
Potts Point, Sydney
Registered:
October 2003
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Location:
Adelaide
Registered:
August 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 13:27
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ok.. from what i heard..if u earn less than $6k pa...u'll get all your tax money back rite..?
because i'm an international student in australia...so far i had been paid $4808..and my tax withheld is $712... am i eligable to claim $712 back or it will be less?
plus...do i need to put in the e-tax that i get allowance from my parents from overseas?
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Location:
Adelaide
Registered:
August 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 13:49
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and another thing...about the interest paid by banks..
i only got the normal savings account..and if i'm right...i receive like a couple of cents for interest... do i put them down in the e-tax?
just to be sure..how do i check how much interest i receive from the bank?
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Location:
sunny coast, qld
Registered:
October 2002
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 13:54
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you have to put interest in if you receive $1 or more. Most banks will have a summary on the June statement.
If you are classed as an australian resident for tax (which I would think you are) you will get the tax free threshold of $6000 and you will get all your tax back. If you aren't a resident then you don't get the tax free threshold.
I wouldn't be including allowance from parents as it is just a "gift" right
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Location:
Kita-Ku, Sapporo, Japan
Registered:
January 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 14:21
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yarf, gift = gift = not income
income you only put down in whole dollars, so from normal bank account that is usually a 0
then again, i get a few hundred from ING each year ... 5.4%.. pays for phone bills etc..
usually online has a summary.. commbank sucks with tat sort of thing but they recently started putting it online.. ING send outstatement of interest.
Dimmy, with your HEC's debt, save up cash and pay it off in chunks big enough to get the discount..
when you are finally in a position to pay it all off.. wait until just before end of finacial year and keep cash in ING etc before then... if you pay it off before the amount is indexed at end of finacial year, you save a bunch as you get interest on your cash in the meantime... usualyl makes a few hundred dollars difference.... even if you don't pay back till the end, what with the indexation and the interest you get from ING, it is still the bst value loan you can get
heh heh, i just finihsed my eturn.. $2.5K  gotta love only working one month in a financial year .. hmmm, where are those TEIN HA's
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Location:
Kita-Ku, Sapporo, Japan
Registered:
January 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 14:23
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oh, when someone lodges their return by Etax, can you set your date to be american style, ie YYYY/MM/DD ? i got a weird error abotu date stuff until i changed it back to Aussie style... anyone feel like confirming? (it will not affect your return, just means you have to change back to Aussie date and then it will submit)
TIA...
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Location:
Melbourne
Registered:
February 2005
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 14:40
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a guy at work was also telling me you can claim upto a certain amount for donations, without requiring reciepts?
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Location:
Adelaide
Registered:
September 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 23:54
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Just got my group cert - over $35k in tax alone 
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Location:
Campbelltown
Registered:
November 2003
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 23:55
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yeah but i'd still rather your salary then mine, no matter how much tax you pay you still take more home at the end of the day the more you pay unless your kerry packer and have great lawyers that stop you from paying tax.
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Location:
Central Coast, NSW
Registered:
February 2005
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Re: My Tax Sucks - Help
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Tue, 12 July 2005 23:57
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| Corona RT142 wrote on Wed, 13 July 2005 09:55 |
yeah but i'd still rather your salary then mine, no matter how much tax you pay you still take more home at the end of the day the more you pay unless your kerry packer and have great lawyers that stop you from paying tax.
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Location:
Adelaide
Registered:
September 2003
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Re: My Tax Sucks - Help
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Wed, 13 July 2005 00:07
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Granted, but it still sucks.
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Location:
Newcastle, Australia
Registered:
March 2005
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I Supported Toymods
Location:
Lwr Templestowe, Melbourne
Registered:
August 2004
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Re: My Tax Sucks - Help
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Wed, 13 July 2005 01:29
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| bbaacchhyy wrote on Wed, 13 July 2005 09:54 |
Just got my group cert - over $35k in tax alone
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 geezuz
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: My Tax Sucks - Help
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Wed, 13 July 2005 04:58
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| BlackGT4 wrote on Tue, 12 July 2005 22:40 |
a guy at work was also telling me you can claim upto a certain amount for donations, without requiring reciepts?
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No, any donation you claim on needs a receipt.
And only donations over $2 can be claimed.
The thing without receipts is you can claim up to $200 worth of work related expenses without receipts (ie, washing, boots, PPE etc), but you have to be able to substantiate it if they audit you.
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Location:
Potts Point, Sydney
Registered:
October 2003
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Re: My Tax Sucks - Help
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Wed, 13 July 2005 10:53
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| oldcorollas wrote on Wed, 13 July 2005 00:21 |
Dimmy, with your HEC's debt, save up cash and pay it off in chunks big enough to get the discount..
when you are finally in a position to pay it all off.. wait until just before end of finacial year and keep cash in ING etc before then... if you pay it off before the amount is indexed at end of finacial year, you save a bunch as you get interest on your cash in the meantime... usualyl makes a few hundred dollars difference.... even if you don't pay back till the end, what with the indexation and the interest you get from ING, it is still the bst value loan you can get
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That's what my folks are doing
They offered to pay 1/2 of it so im sweet...for now
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Location:
sunny coast, qld
Registered:
October 2002
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Re: My Tax Sucks - Help
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Thu, 14 July 2005 03:19
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Cruzsida is right except it is $150 for D3 clothing and laundry and $300 total for work related deductions ie. D1 to D5.
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Location:
Coffs Harbour
Registered:
October 2004
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Re: My Tax Sucks - Help
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Thu, 14 July 2005 04:25
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yeh just make ya deductions up,
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Location:
Canberra
Registered:
April 2003
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Re: My Tax Sucks - Help
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Sun, 17 July 2005 15:53
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just got my return of 3250
GZE here I come
Managed to claim 4230 on car expenses from my paper delivery job. Kept all my receipts and logged all K's done
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Location:
Kita-Ku, Sapporo, Japan
Registered:
January 2003
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Re: My Tax Sucks - Help
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Mon, 18 July 2005 06:14
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just a note,
if you fuck up your Etax and your are not in the country, just send a signed letter to the ATO saying what you need changed and where.
they need a personally signed copy of the letter tho so they have authorisation to go into your return and change it...
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Location:
Campbelltown
Registered:
November 2003
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Re: My Tax Sucks - Help
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Mon, 18 July 2005 06:19
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well i did my tax on saturday woot, man it rules to work in a field related to your study i get 17% of my fees back even though they are on help woooooot. So when i can actually afford to pay them up front i will get the discount plus it back on tax yay cheap uni.
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