Tax Return Help

Im trying to get in quick with my tax return to beat the rush...

Based on my last pay slip which shows my gross earings up until 28/06/06 i can calculate the last 2 days pay in the financial year and the amount of tax to deduct also.

Is that correct??? Do i include the last 2 days of the financial year which fall outside my last pay period???

Group certificates state that the period is 1/7/05 to 30/6/06. So my guess is that i include the 2 days...

Im lodging my return electronically so i dont need to supply a group certificate (which i havent actually recieved yet)...

This is my dilemma.

Do i make sense? Is there anyone amongst us studying to be and accountant, or is an accountant that can answer my questions?


Thanks

Oldy

Include the 2 days mate!

thanx babe

I thought that coz your group cert ends on the 30/6/6 you dont count those 2 days. I've done mine. Looks like I owe tax again coz I just earnt $13 over the threshold. Thats screwed.

But the group cert ending on the 30th means i DO include the 29th and 30th (my pay period ended on the 28th)

i got an accountant....


makes life easier

your YEARLY payment ends on the 30/6


so its included.

just because ur work pays u in a dif time brakcet.. means squat diddly!

rad!

im about to click SEND!

I earnt record coin last fin year, and i have a record nothing to show for it!

hmmm...I misread the first post. While on this...(this only applies to people that use ETAX), if u claim some work-specific deductions and they're over $300, does the ATO actually check-up on this or not? I wasnt sure if I could claim all 37pairs of black socks and 2 black pairs of shoes for work...so I didnt.

random people will get audited... but most times if its with in reason ur fine.. u have a limit to how much u can claim with out receits.. but u dont wnat to claim that exact amount everytime.. u can draw attention to urself that way...


each year they specify a few different careers/industrys they will target for auditing..

Can I claim union fees and uniforms and stuff? Its all written on the thingy but I dont know what the feck I can claim

Yes you can, and you can also claim laundry expenses (approx $1 per load)

From now on...I'm keeping all my receipts instead of ditching them every year. As normal per year, I just claimed my union fees.

not looking forward to doing my tax next august after im back. cause i didnt do my tax return before i left last august for the previous financial year. i have a bad feeling i earned too much that year and they are gonna rape me!!

fuck em bloody money sharks. I paid nearly 11 grand in tax this year and fucked if there getting more out of me. Its rank im tired at giving them money and getting nothing in return.

I just usually do mine on the net but my mate said as i own a house i can claim other shit. I usually only get like 200 bux back and i dont really want to pay some one to get me diddly squat. As i own a house is there anything else i can claim besides the usual washing etc???...... I dont have receips for anything. When i dontae cash to charity i dont worry about a receipt as its called charity.

Whada you guys reckon? do it online again or see a tax accountant?

See an accountant mate. Although...if you havent kept receipts for anything at all, then I reckon you could go the ETAX way. You can still claim up to $300 without the need for receipts.

I'm just wondering...I used to earn less than what I am getting now but come tax returns time, I'd get back something like $2k. Now that I earn more, I'm finding I actually owe tax. I dont get it. I know it has something to do with my HECS and SFSS debt. Any thoughts?

Your emplyer probably isnt paying as much of your tax as they should. Hence, more in your pocket. You can have it adjusted so that more is taken out of your weekly pay so you dont have a tax debt at the end of financial year, but the downside is there will be a few bux less in your pocket each week.

Ideally, 22% of your gross weekly income paid as tax would be plenty and insure you get some thing back come tax return time.

i get $40 per fortnight taken out as extra tax and i get a nice little bonus at the end of the year...

Thanks guys! I'm gonna do this from now on.

You should have that automatically deducted into something like a xmas club savings account that you cant touch all year so it earns interest.

So should i.

go on then.

if i didnt pay the extra tax id probably end up having to pay tax at the end of the year though so the interest would end up as tax anyway. i love tax.

so who wants to come and buy some petrol with me?

*freakin #$&^%&^ GRAAARRRGGGHHHH!!!!!*

I just recieved my group certificate from my old employer and it stating i only got taxed $12 which is a load of crap when clearly on my last payslip dated feb 2006 says that the yearly tax is $798. there has been a an error do i call my old employer and tell them of the error ??

unsure...

Ofcourse you should

its ok problem solved

i love tax more then you cris. Petrol. Just get diff number plates hahahahaha only kidding why would you do that?? Tax is great we should all embrace it wih open arms

Were they right or wrong?

I honestly think you should have your group certificate before you can lodge a tax return, because that contains all the information you need to lodge your return correctly, but then what would I know??

The company I work for always has our group certificates to us before the end of the financial year so a few days are always missed, but they get made up the following year. But seriously, you should really demand your group certificate from your employer because they should have gotten it to you by now Slackers!!!!

...at the end of the day the two days, whether you include them or not, will not make a huge difference in the grand scheme of things.....I hope you get a fat cheque there buddy!!!




no, just let them keep your tax money of course call them!!!!

What SMP said is right.

I lodged my return electronically last night, and I needed my group certificate to do so as it gives the exact figures (that are concurrent with your employer's figures) which you need to know .. total amount earnt, total tax withheld, and so forth.

I'm quite certain you need your group certificate no matter how you actually lodge your claim.

its all good sharan i worked out what it was for, and its correct. so i dont need to call them