Australian tax thread 2013

Kiith wrote: »

Quick question...if you earn over the $18200 bracket, do you get taxed on your entire earnings, or just the amount you go over $18200?

Just over the 18.2k - the 18.2k is the tax free allowance

oztax wrote: »

OMG just changed resident for tax purposes from no to yes and it says I should get it ALL back??!!

sh!t it says that i ticked yes but this does not match ATO's records!

can i use irish bank details instead of oz bank does anyone know?

sorry for being a headwreck with so many questions!

It doesn't matter if you ticked 'No' at the start of your employment and changed it to 'Y' as these are circumstances that do change.

You can only get a cheque for O/S accounts

Mod I'll create a 2013 tax thread soon

oztax wrote: »

last question i promise!!

if i leave the bank details section blank does that mean they will automatically send me a cheque instead?

thanks a million for taking the time to answer my questions and putting my mind at ease

Yeah they'll post it to ya if ya want.

Hey all

Im using this etax program and got a few quick Q's...

A2 - Other items - Part-year tax-free threshold
in 2012/13 did you become an Australian resident?

I came to oz on 20 Sept 2012, started working 10th October at 1st job, then changed to a new job on 29th Jan 2013,

I assume I click yes for this part, but what date do I put in when I became an Australian resident, 6months after my start date?

Also, when I clicked submit it tried to verify my identity, but didnt work, says I have to do a "shared secret"?

hussey wrote: »

You cannot submit eTax in your first year *I think*, print it and post it -
No you can backdate the Resident for Tax purposes.

you can (I did last year), you just cant do it on the second day after financial year end

need to give it a few weeks so that the ATO has some details on you (passed on from employer/bank)

newuser89 wrote: »

I started working end of January till end of June so I worked 5 months of the tax year
Earned just over 80000-
Paid just over 30000 in tax

Can anyone tell me what I can expect back once I claim
Some people say a lot and others say a little bit.

I earned roughly the same last year, was expecting 10k back.

I got 3k.

Best advise, don't expect much.

Just as a FYI, a lot of people hear 'you get all your tax back' stories from people.
This is simply down to how much you earnt, if you are under a certain threshold (I think around 30k mark) you are classed as a low earner and don't pay much tax at all.
If someone worked Jan-Dec they are working 2 tax years, so again they can get a lot of tax back.
So when ya hear people saying you get all of it back, take it with a pinch of salt

hussey wrote: »

Just as a FYI, a lot of people hear 'you get all your tax back' stories from people.
This is simply down to how much you earnt, if you are under a certain threshold (I think around 30k mark) you are classed as a low earner and don't pay much tax at all.
If someone worked Jan-Dec they are working 2 tax years, so again they can get a lot of tax back.
So when ya hear people saying you get all of it back, take it with a pinch of salt

I worked from March to June last year so my gross earning were only about 12k i got the vast majority (if not all) of my tax back. I've worked alot more this year and ill get less tax back

Just filled out all my details on etax, my estimated return is $208 WTF???

My tax withheld was $12,285, its my 3rd year and the past 2 years have been around $3k return. Whats going on?

Mikester21 wrote: »

Just filled out all my details on etax, my estimated return is $208 WTF???

My tax withheld was $12,285, its my 3rd year and the past 2 years have been around $3k return. Whats going on?

Same as ... Paid more tax than I ever have and they are quoting me less. You just need to get more creative with your return!

monariek wrote: »

in the E-Tax section "Other Items - A2 - part year tax free" i entered that i become australian resident for tax purposes on 1 Feb 2013, as this is the day i arrived in the country

This results in a reduced tax free threshold of $15k

I arrived in January and stared work in February so put February as the date I became a resident, worked 133 days out bush but missed the 188 days threshold and only got a 431 part year threshold

markymark21 wrote: »

Hey Guys, anyone know if you can claim back migration agent fees? Tax Back Australia are saying you can't, but a bloke who works with my GF says he claimed his back?

Also, is it possible to claim back health insurance fees?

nope on both fronts - the health insurance premium used to be reduced by a tax saving at source but that was abolished last year. Now there is a health insurance loading scheme in place if you are over 30 but is mainly only if you have PR (and doesn't really have much to do with tax anymore)

Your GF's buddy claimed his migration fees - fact of the matter is that Australia's tax system is self assessment (like Ireland) so you can claim whatever you like, whether you are actually entitled to claim is the difference. If you gf's buddy was audited, he'd be repaying tax with interest.

the key theory in claiming a deduction is whether it was incurred in earning assessable income. Migration fees are for the "primary" purposes of living here not for working here so not allowable. One could say the same about tax agents (ie you pay them but they do not aid you in earning assessable income) which is why the legislation was amended to specifically allow a personal deduction for accountants fees for the preparation of a tax return

Batgurl wrote: »

Migration agent fees - no. Tax agent fees - yes.

And despite being told on boards that you can't claim back health insurance fees, my provider has yet again sent me a statement with my rebate amount which my tax agent said I can claim back so .... who knows!

The health insurance rebate depends on certain factors and is driven by the health insurance loading

this explains it better than I can
http://www.privatehealth.gov.au/healthinsurance/incentivessurcharges/insurancerebate.htm