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Australian tax thread 2012

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  • 02-07-2012 5:47am
    #1
    hussey
    Registered Users Posts: 6,240 ✭✭✭


    Hey folks, going to add a tax thread here, so we can collate the Q&A, as most of them are simple.

    I will add an example tax return too for eTax 2012
    The first thing you should do is have a look at last years thread
    found: http://www.boards.ie/vbulletin/showthread.php?p=72639220

    How do I get a Tax File Number?
    View the ATO website here, it is easy and quick and will be delivered within a few days.

    Are you a Resident for tax purposes?
    This is important, it is not the same as a resident. This is about intent and length of stay. If you intend on staying longer than 6 months then you can declare yourself a RfTP.
    Read more here

    Still confused? Use this wizard to see if you can be a RfTP

    Remember this is between you and the tax office.

    Tax returns
    Now for most people a return is pretty straight forward, you type in any income, take away any deductions (you can claim $300 a year without receipts), minus any tax you paid and voilà you are done.

    Medicare:
    Irish passport holders who are on temp visas (WHV/457) can claim medicare exemption (since we don't get medicare)
    Use this form to apply for medicare exemption.

    Takes about 4 weeks, once you apply for PR you no longer can claim medicare exemption and can apply for medicare.
    I have been asked twice to provide this form for the years I applied through etax, it is a lot easier and is kept on record at medicare to apply quickly.

    Items that are tax deductible are taken away from your taxable income rather than taken away from tax.

    e.g. you earn 40000 and have expenses of 1000, your taxable income is 39000. not tax-1000.


«13456

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    #2
    massdebater
    Registered Users Posts: 2,251 ✭✭✭massdebater


    Going through a tax agent this year as this is my first Aus tax return. Applying for my Medicare exemption tomorrow. Will wait for that to come back and then off to my accountant to lodge the tax return. Am I right in saying that I'll need confirmation of the Medicare exemption before I can claim that back i.e. I'll have to wait a few weeks before I can lodge my tax return? I'd rather send everything in one go if possible.

    My accountant should be up to speed with how far I can "push" the tax return in terms of how much I can claim back e.g. the $300 without receipts, claiming back for money paid to charities etc. Are there any other common payments that can be claimed back?

    Does anyone know if I can claim back the tax paid on the interest of my savings? Think it's called witholding tax or something like that?


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    #3
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    here are two very simple examples for etax 2012.
    A basic earn money and pay tax example, without many deductions.

    The TFN is an example and not a real one: 100 000 001 so don't try submit it or will fail


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    #4
    Mellor
    Registered Users Posts: 39,025 ✭✭✭✭Mellor


    massdebater wrote: »
    Am I right in saying that I'll need confirmation of the Medicare exemption before I can claim that back i.e. I'll have to wait a few weeks before I can lodge my tax return?

    No. You don't need the medicare exemption letter before you can claim that back. You are already exempt if you are from the RoI, the application is just for a written statement to that effect.
    I claimed the exemption the last two years but I've never been asked for proof. If they do ask i'll apply for the written proof then.


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    #5
    rightyabe
    Registered Users Posts: 812 ✭✭✭rightyabe


    Could I claim $300 on D5 "other work related expenses" and also claim on D3"work related uniform and PPE"

    What is the difference? Do I need to show evidence of either?

    Also what is the $712 tax offset? How is it calculated?


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    #6
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    rightyabe wrote: »
    Could I claim $300 on D5 "other work related expenses" and also claim on D3"work related uniform and PPE"

    What is the difference? Do I need to show evidence of either?

    Also what is the $712 tax offset? How is it calculated?
    One (uniform) is a specific common expense, the the other is a general category that covers everything else. You will need to show evidence of both if asked by the ATO (well over 300 for 'other')


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    #7
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    massdebater wrote: »

    Does anyone know if I can claim back the tax paid on the interest of my savings? Think it's called witholding tax or something like that?
    Yes, you can. That tax should be added to your total bill. But interest on saving is classed as earnings here, so will usually have to pay some tax.


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    #8
    s.c
    Registered Users Posts: 270 ✭✭s.c


    hussey wrote: »
    you can claim $300 a year without receipts

    You may not require receipts for work related expenses up to $300 but you need to be able to demonstrate how you calculated these expenses if you are asked.


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    #9
    s.c
    Registered Users Posts: 270 ✭✭s.c


    rightyabe wrote: »
    Could I claim $300 on D5 "other work related expenses" and also claim on D3"work related uniform and PPE"

    What is the difference? Do I need to show evidence of either?


    You can claim for anything you like. Whether you are able to show that these were legitimate expenses if investigated is another thing.


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    #10
    Whipping Boy
    Registered Users Posts: 363 ✭✭Whipping Boy


    Medicare:
    Irish passport holders who are on temp visas (WHV/457) can claim medicare exemption (since we don't get medicare)
    Use this form to apply for medicare exemption.

    This link appears to be broken?

    Also, I'm currently doing the e-tax thing and all is going well except when I got the questions on super-annuities (Income - 7/8). I'm confused as to whether to fill this out or not. I have an account with Recruitment Super and have $990 in this but FAIK claiming your super back is a separate process which could only be done when you had left the country for 6 months? (I'm currently back in Ireland approx 2 months)

    Any help would be much appreciated.


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    #11
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    Whipping Boy wrote: »
    This link appears to be broken?

    Also, I'm currently doing the e-tax thing and all is going well except when I got the questions on super-annuities (Income - 7/8). I'm confused as to whether to fill this out or not. I have an account with Recruitment Super and have $990 in this but FAIK claiming your super back is a separate process which could only be done when you had left the country for 6 months? (I'm currently back in Ireland approx 2 months)

    Any help would be much appreciated.

    Link fixed. No don't fill that out, annuities are for lump payments from super companies.
    Yes claiming super is a separate process. As far as I know you can claim it once you have left for good and don't need to wait.


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    #12
    Whipping Boy
    Registered Users Posts: 363 ✭✭Whipping Boy


    Thanks for that Hussey, much appreciated. Final quick question - I'm back in Ireland now for good and didn't have any hospital/doctor fees while in Oz - can I still apply for the medicare exemption? And if so, should it be done before or after the etax application or does it matter? Cheers in advance


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    #13
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    Whipping Boy wrote: »
    Thanks for that Hussey, much appreciated. Final quick question - I'm back in Ireland now for good and didn't have any hospital/doctor fees while in Oz - can I still apply for the medicare exemption? And if so, should it be done before or after the etax application or does it matter? Cheers in advance
    Yes, all people from the republic of ireland who are/were on a temp visa (457/WHV) are entitled medicare levy exemption.

    Ideally you should apply before submitting your eTax.


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    #14
    Whipping Boy
    Registered Users Posts: 363 ✭✭Whipping Boy


    Great stuff, thanks for that Hussey.


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    #15
    Nedbroy
    Registered Users Posts: 63 ✭✭Nedbroy


    I'm on a WHV, working since start of december, 6 months in one company, and temping with an agency at the moment. I have been paying the resident for tax purposes rate and intend to work a couple months more before I travel then go home. If I lodge a tax return as RFTP on e-tax will I get the majority of my tax back because I am on a WHV?


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    #16
    darcy07
    Registered Users Posts: 94 ✭✭darcy07


    anybody know any good agencys/agents in the melbourne area that will do the work for me im not very tax savvy im working in an office job over a month

    im on a 417 working holiday visa


    Y.T.D :
    Gross Earn 5884.05
    tax 1355.00
    hecs 14.50
    net pay 4543.55


    Super Fund Name MTD YTD
    Recruitment Superannuation 362.03 520.26
    this is my latest payslip haven't a clue what to do reading all the threads on here but the language used may as well be Chinese


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    #17
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    Nedbroy wrote: »
    I'm on a WHV, working since start of december, 6 months in one company, and temping with an agency at the moment. I have been paying the resident for tax purposes rate and intend to work a couple months more before I travel then go home. If I lodge a tax return as RFTP on e-tax will I get the majority of my tax back because I am on a WHV?
    WHV has nothing to do with your tax. You will get a good chunk back but because you only worked 1/2 the tax year, not because of any visa status (assuming a RfTP)


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    #18
    Princess_N
    Registered Users Posts: 163 ✭✭Princess_N


    Hi Guys,

    I am here almost a year now and have been working for about 8 months. I am defacto on a 457 visa. Do I still get to claim tax back like someone on a whv or is it different? Can't find much info online. On all forms I an a "resident for tax purposes" but a 457 is still a temporary visa.

    Appreciate any help,


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    #19
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    Princess_N wrote: »
    Hi Guys,

    I am here almost a year now and have been working for about 8 months. I am defacto on a 457 visa. Do I still get to claim tax back like someone on a whv or is it different? Can't find much info online. On all forms I an a "resident for tax purposes" but a 457 is still a temporary visa.

    Appreciate any help,

    All workers in Australia need to fill out a tax return. It is no different to a WHV, or a resident or a citizen. Resident for tax purposes does not equal resident visa status. It is exactly as stated, you are treated the same as a resident, but only for tax purposes. Which is a good thing.


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    #20
    s.c
    Registered Users Posts: 270 ✭✭s.c


    darcy07 wrote: »
    anybody know any good agencys/agents in the melbourne area that will do the work for me im not very tax savvy im working in an office job over a month

    im on a 417 working holiday visa


    Y.T.D :
    Gross Earn 5884.05
    tax 1355.00
    hecs 14.50
    net pay 4543.55


    Super Fund Name MTD YTD
    Recruitment Superannuation 362.03 520.26
    this is my latest payslip haven't a clue what to do reading all the threads on here but the language used may as well be Chinese


    If that is what you have earned in the last tax year then you would be entiled to get all your tax back ($1355)


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    #21
    g5fd6ow0hseima
    Closed Accounts Posts: 2,787 ✭✭✭g5fd6ow0hseima


    Hi,

    im in my first year of my WHV and I have calculated that i've earned roughly over 8,000 on my tax file number, but because i've ticket the lower tax bracket (RfTP), ive paid only about 1,300 in tax for the past year. So given that I haven't paid much tax, what would be the best thing for me to do in order to claim it back? As I don't have any tax certificates from my employers, do I have any other option than going through one of these taxback agencies who take their cut from my rebate? I presume that they take a bigger cut if you don't provide them with tax certificates / final payslips.

    Also, on that last point, which taxback agency would you recommend?


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    #22
    s.c
    Registered Users Posts: 270 ✭✭s.c


    Joel Unsightly Typographer wrote: »
    Hi,

    im in my first year of my WHV and I have calculated that i've earned roughly over 8,000 on my tax file number, but because i've ticket the lower tax bracket (RfTP), ive paid only about 1,300 in tax for the past year. So given that I haven't paid much tax, what would be the best thing for me to do in order to claim it back? As I don't have any tax certificates from my employers, do I have any other option than going through one of these taxback agencies who take their cut from my rebate? I presume that they take a bigger cut if you don't provide them with tax certificates / final payslips.

    Also, on that last point, which taxback agency would you recommend?

    You get a summary at the end of the tax year (now) from each company you have worked for in that year. You need this or at least your last payslip to complete your tax return. You should contact the companies you have worked for to ensure they have your current address.

    Going by those figures, you would be entitled to get all the tax you paid back.


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    #23
    Mikester21
    Registered Users Posts: 31 ✭Mikester21


    Its my first year being on LAFHA (since Oct) does anybody know how this will affect my tax return?


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    #24
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    Joel Unsightly Typographer wrote:
    ....
    As stated above companies are legally obliged to send you a end of year statement saying how much you earns how much you paid tax. It's still only a week in, so don't stress too much about not receiving it.

    Please don't use a tax company. I have posted up an example etax form. It really is simple, in your case very simple. Just fill in income section (fill in first one and skip the rest), fill in deductions (tax) and make sure you fill in and apply for the Medicare levy exemption and viola - all tax back and save you 10% or $100 -

    In the Medicare exemption levy type in 366 for days you were exempt, but make sure you submit the Medicare form


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    #25
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    Mikester21 wrote: »
    Its my first year being on LAFHA (since Oct) does anybody know how this will affect my tax return?
    It should be like a normal tax return. On the statement it should state how much you earns, how much tax and how much benifit etc, there is also a Pre-fill option on etax which might contain all info you need (your company needs to send the ATO info first)


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    #26
    mobius42
    Closed Accounts Posts: 909 ✭✭✭mobius42


    Anyone else noticed that the pre-filling info isn't up yet for e-tax? I tried to file my return and it couldn't find anything besides what info it could roll over from last year's file.


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    #27
    ellaq
    Registered Users Posts: 311 ✭✭ellaq


    Your employer or previous employer has to issue a End of Year Statement by the 14th July.


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    #28
    Whipping Boy
    Registered Users Posts: 363 ✭✭Whipping Boy


    Another question in etax just threw me - do I still have to apply for the medicare exemption (in the separate form) IF I'm under the low-income threshold as stated in etax (around $18/19k gross income if I remember correctly)? From the wording it appeared that if I earned under this amount I was automatically exempt from the medicare charge and thus, wouldn't have to apply for the exemption separately?


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    #29
    Mellor
    Registered Users Posts: 39,025 ✭✭✭✭Mellor


    Whipping Boy wrote: »
    Another question in etax just threw me - do I still have to apply for the medicare exemption (in the separate form) IF I'm under the low-income threshold as stated in etax (around $18/19k gross income if I remember correctly)? From the wording it appeared that if I earned under this amount I was automatically exempt from the medicare charge and thus, wouldn't have to apply for the exemption separately?
    It's not application for exemption, you are exempt regardless. It's a declaration of exemption only needed if they asked. If you earned under the threshold I don't imagine they'll ever ask for proof. So just go ahead.


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    #30
    up-&-at-dem
    Registered Users Posts: 27 ✭up-&-at-dem


    When doing my tax return online where can I upload/attach Pdf copies of my final payslips? I dont want to send it off without any proof of my earnings & taxes paid


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    #31
    hussey
    Registered Users Posts: 6,240 ✭✭✭hussey


    up-&-at-dem wrote: »
    When doing my tax return online where can I upload/attach Pdf copies of my final payslips? I dont want to send it off without any proof of my earnings & taxes paid
    You don't. Only send PDF if 1) asked by the ATO 2) paper based applications

    You really don't need to. Your employer will send this info to the ATO anyway. But if you want to print it all off and mail it


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