Tax time!!

[Winnie]

Hey guys I know this isn't really the correct forum to be asking this but it can't really hurt.
Got a call from the accountant doing my tax return today and they told me that I would be getting $900 for my return.

Without revealing too much info I paid $2500 in tax, worked for 9 months of the financial year and earned under $30,000 in taxable income.

I had been told by heaps of people that I would probably get all or most of my tax back. I was a bit disappointed with the $900 figure she gave me. I went on the ATO website and had a look at the low income tax offset. From what I can see I am eligible for the full $1500, which would mean she hasn't claimed that for me. Anybody know if what I am saying is true? There's a calculator on that page but it doesn't work. Here is a link to the page.

http://www.ato.gov.au/individuals/content.aspx?menuid=0&doc=/content/00309813.htm&page=6&H6

So what else comes with tax time? MODS!! What are you guys planning on doing to your rigs? I'm hoping to pay for the tyres I just got and hopefully a new winch bar too.

[growler2058]

Only advice I can give is get a good accountant. I've been told not to go to the likes of H&R Block as they don't get you the max return


Tap, Tap.......Who's there?

[AB]

Check the ATO site out mate for the proper rates, etc...

http://www.ato.gov.au/businesses/content.aspx?doc=/content/12333.htm&pc=001/003/019/001/006&mnu=0&mfp=&st=&cy=

Tax rates 2012-13
The following rates for 2012-13 apply from 1 July 2012.
Taxable income
Tax on this income
0 - $18,200
Nil
$18,201 - $37,000
19c for each $1 over $18,200
$37,001 - $80,000
$3,572 plus 32.5c for each $1 over $37,000
$80,001 - $180,000
$17,547 plus 37c for each $1 over $80,000
$180,001 and over
$54,547 plus 45c for each $1 over $180,000
The above rates do not include the Medicare levy of 1.5% (see Guide to Medicare levy for more information).


Tax rates 2011-12
The following rates for 2011-12 apply from 1 July 2011.
Taxable income
Tax on this income
0 - $6,000
Nil
$6,001 - $37,000
15c for each $1 over $6,000
$37,001 - $80,000
$4,650 plus 30c for each $1 over $37,000
$80,001 - $180,000
$17,550 plus 37c for each $1 over $80,000
$180,001 and over
$54,550 plus 45c for each $1 over $180,000
The above rates do not include the Medicare levy of 1.5% (see Guide to Medicare levy for more information).
The above rates do not include the Flood levy (see Flood levy information for individuals for more information).

[Winnie]

Only advice I can give is get a good accountant. I've been told not to go to the likes of H&R Block as they don't get you the max return


Tap, Tap.......Who's there?

Yeah going through a family member, sort of obliged to. Don't think I will next time though.

Oh you can be sure there will be plenty of this stuff with my return.

https://www.partytimesrus.com/item_images/1FBG2292.jpg

[taslucas]

I go to H&R block, they been good to me so far.....

30,000 in 9 months.......I only just beat that in 12 months!

Tap, crackle, pop

[Winnie]

I wish I earned $30,000 in 9 months. I said it was less than that haha.

[Ben-e-boy]

I go to H&R block, they been good to me so far.....

30,000 in 9 months.......I only just beat that in 12 months!

Tap, crackle, pop


I wish I earned $30,000 in 9 months. I said it was less than that haha.

sorry to say guys but I paid that much in tax. all I got back was 2200. claiming tools, protective clothing and a bit of travel,

[healy]

That's not a good return at all do it yourself next year online should be getting slot more than that

[Winnie]

claiming tools, protective clothing and a bit of travel,

Yeah I've got no tools or anything to claim, but I've got HEAPS of travel. Didn't think to keep a log book, I'll do that next year for sure.

[taslucas]

I wish I earned $30,000 in 9 months. I said it was less than that haha.

Ahhh.... I did not read it right, sorry Winnie!!

Tap, crackle, pop

[Ben-e-boy]

That's not a good return at all do it yourself next year online should be getting slot more than that

I did do it myself, I'm just getting raped,

[Winnie]

Ahhh.... I did not read it right, sorry Winnie!!

Tap, crackle, pop

I'll forgive ya for a pot of hunny

[NissanGQ4.2]

sorry to say guys but I paid that much in tax. all I got back was 2200. claiming tools, protective clothing and a bit of travel,


You what................paid $30,000 in tax????

[MudRunnerTD]

Yeah I've got no tools or anything to claim, but I've got HEAPS of travel. Didn't think to keep a log book, I'll do that next year for sure.

You can claim 5000kms without a log book so claim 4850kms of travel.

If you do a Heap of travel to a different place every day for work like from site to site then you can claim ALL the kms too and from the site to your home. It will add up to HEAPS of return to you. This is a No Brainer and Easy money. You just Have to do it mate. Bear in mind that you only have to do it for any 3 month period and then assuming that your job is fairly consistent then the tax office will happily accept that as an average and apply it over the year. Better still they will let you retain that single Log Book for as many years as you own your current car and or remain in the same job. 1 Log Book is all you need.

Further, If you failed to do a log book and are honest enough to not make one up then you can do one next year and ask your Tax agent to retrospectively claim that travel for as many years backwards that you have been doing that amount of travel. This is NOT a Waste of your time! I have had some Massive tax returns using this system. Do the book mate.

The only Travel you can not claim is the travel to your work place. That must be a fixed address. Office or Factory. any other travel is claimable. If you go to a different site every day independently of your boss then you can claim the lot. If you go to the factory then get a lift from there then you can claim Nothing.

I used to travel 120kms each way to the office with no benefit. Then i started doing a site visit before and after the office every day and the whole lot is claimable. WINNER

[Ben-e-boy]

You what................paid $30,000 in tax????

just under to be exact

[nissannewby]

I have paid 20k in tax in the last 6 months :(. I will be going to an accountant as I have about 10-12k worth of stuff to claim and should see a return of about 5-6k.

[Winnie]

You can claim 5000kms without a log book so claim 4850kms of travel.

If you do a Heap of travel to a different place every day for work like from site to site then you can claim ALL the kms too and from the site to your home. It will add up to HEAPS of return to you. This is a No Brainer and Easy money. You just Have to do it mate. Bear in mind that you only have to do it for any 3 month period and then assuming that your job is fairly consistent then the tax office will happily accept that as an average and apply it over the year. Better still they will let you retain that single Log Book for as many years as you own your current car and or remain in the same job. 1 Log Book is all you need.

Further, If you failed to do a log book and are honest enough to not make one up then you can do one next year and ask your Tax agent to retrospectively claim that travel for as many years backwards that you have been doing that amount of travel. This is NOT a Waste of your time! I have had some Massive tax returns using this system. Do the book mate.

The only Travel you can not claim is the travel to your work place. That must be a fixed address. Office or Factory. any other travel is claimable. If you go to a different site every day independently of your boss then you can claim the lot. If you go to the factory then get a lift from there then you can claim Nothing.

I used to travel 120kms each way to the office with no benefit. Then i started doing a site visit before and after the office every day and the whole lot is claimable. WINNER

I've claimed 2500km of driving because I think that is pretty accurate. I do a lot of travel between branches, deliveries in my own vehicle, and travel to Melbourne for business meetings. With this low income tax offset, I should get it all back.

[Ben-e-boy]

You can claim 5000kms without a log book so claim 4850kms of travel.

If you do a Heap of travel to a different place every day for work like from site to site then you can claim ALL the kms too and from the site to your home. It will add up to HEAPS of return to you. This is a No Brainer and Easy money. You just Have to do it mate. Bear in mind that you only have to do it for any 3 month period and then assuming that your job is fairly consistent then the tax office will happily accept that as an average and apply it over the year. Better still they will let you retain that single Log Book for as many years as you own your current car and or remain in the same job. 1 Log Book is all you need.

Further, If you failed to do a log book and are honest enough to not make one up then you can do one next year and ask your Tax agent to retrospectively claim that travel for as many years backwards that you have been doing that amount of travel. This is NOT a Waste of your time! I have had some Massive tax returns using this system. Do the book mate.



just to elabourate abit more MR, you can only claim travel to and from work if your place of WORK is different to your employers address ie my employer is in gympie and my work is in central queensland 885km away. I get travel allowance and my flights paid for so I cant claim any of that. I could only claim a small amount of travel for other sites

[Bob]

Go to another Accountant

[nissannewby]

As above ben-e-boy they might charge you a small fee but its worth it. You also need to keep track of any phone calls that are made for work purposes. As you are going to the airport for work you should be able to claim these k's that you travel to and from. Uniforms laundry expenses etc. I got nearly 4k back last year so its certainly worth the fee to pay an accountant.

[Ben-e-boy]

As above ben-e-boy they might charge you a small fee but its worth it. You also need to keep track of any phone calls that are made for work purposes. As you are going to the airport for work you should be able to claim these k's that you travel to and from. Uniforms laundry expenses etc. I got nearly 4k back last year so its certainly worth the fee to pay an accountant.

last time i went to an accountant I had to pay, and I was still an apprentice, I had to pay 550 bucks and was only earning 360 bucks for a 7 day week. but in saying that I have an appointment with a financial planner and a stock broker when I come back from shift.

[nissannewby]

Ask around the one i use is pretty good aye she is always keen to help out. If you work with any contractors ask them who they use etc and ask others you know you will find a good one. I had just had a look and I have paid around the 32k mark in tax. With your appointment (you probably already do) have a list of questions you want to ask them and where its gonna get you etc and with the questions ask heaps and even take notes if you have to.

[Ben-e-boy]

Ask around the one i use is pretty good aye she is always keen to help out. If you work with any contractors ask them who they use etc and ask others you know you will find a good one. I had just had a look and I have paid around the 32k mark in tax. With your appointment (you probably already do) have a list of questions you want to ask them and where its gonna get you etc and with the questions ask heaps and even take notes if you have to.

The biggest issue I have with tax write offs is that I get (in my weekly wage) tool allowance, LAFHA, phone allowance, internet allowance, meal allowance, callout allowance, I cant claim much as I get everything paid for.

[nissannewby]

Yes that would be painful your return probably isnt to bad then.

[wildgu6]

Went to H&R once cost me $150 to get $900 back, never again. Now go to accountant and get $4k back for the same price. What you say is true you should get most of it back with those figures.
Also with H&R block they are a government funded institution so basically they work for the government so they like the government will screw you so they keep getting kick backs. Find yourself an accountant


Yappa Tappa Doo

[Winnie]

She explained to me the entire process and that the $1500 is a deduction and not a refund.
Got it up to $1400 which is not bad, pays for my new tyres at least.

[chester]

Mate go and see Raymond and partners in warragul,They are really good i got enough back this year to rebuild my v8 and get a conversion kit.And a few extras.
In regards to travel you can also claim meals up to $25.Also did you claim washing,boots etc......

[Winnie]

Yeah I did, there's not much I can claim in my job. I'm happy with what I got.

[growler2058]

Went to H&R once cost me $150 to get $900 back, never again. Now go to accountant and get $4k back for the same price. What you say is true you should get most of it back with those figures.
Also with H&R block they are a government funded institution so basically they work for the government so they like the government will screw you so they keep getting kick backs. Find yourself an accountant


Yappa Tappa Doo

Correct a lot of them are ex ATO so they're NOT working for you!!


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[rusty_nail]

2300 back from my tax this year =) look out for new mods on the troll.. im sure thats what it will be getting used for =D

[growler2058]

I usually get a reasonable amount..........however wife just told me
It'll be used to pay off debt, what a frokin party pooper hahahahahaha


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