Australian tax thread 2012

STIG83

I'm also filling in an Medicare levy exemption.
On question one it asks: "which financial year are you applying for?"
Is it the one just gone, 1st July 2011 to 30th June 2012 or the current one, 1st July 2012 to 30th June 2013.

Thanks.

hussey

STIG83 wrote: »

I'm also filling in an Medicare levy exemption.
On question one it asks: "which financial year are you applying for?"
Is it the one just gone, 1st July 2011 to 30th June 2012 or the current one, 1st July 2012 to 30th June 2013.

Thanks.

What tax year are you filling out?
11/12

STIG83

hussey wrote: »

What tax year are you filling out?
11/12

Got an accountant to do my tax return for 11/12 and she told me to fill out an application for levy exemption.

hussey

What I meant is the year should match the tax year you are applying for, you can backdate the medicare exemption.

Recession Buster

Hi Hussey

I'm on a WHV and have been working under my ABN for the last 2 months. When do I need to pay tax and how do I go about it? Great thread btw.

DirkVoodoo

When completing the online e-tax form, it asks for State and postcode, but gives the option to enter a country other than Australia.

As I'm now back home and looking to get my tax return in, should I use my former Australian address which is still linked to my NAB account? Is the tax returned through an electronic transfer or is there a risk of it being sent to my former abode?

Stupid question, I know, but I had housemate issues so need to be sure!

hussey

DirkVoodoo wrote: »

When completing the online e-tax form, it asks for State and postcode, but gives the option to enter a country other than Australia.

As I'm now back home and looking to get my tax return in, should I use my former Australian address which is still linked to my NAB account? Is the tax returned through an electronic transfer or is there a risk of it being sent to my former abode?

Stupid question, I know, but I had housemate issues so need to be sure!

They can post a cheque. Or transfer the $ to teh account.

lols25

The question under the "Other Item" sub menu "A2 Part year tax free threshold" on E-Tax is causing me bother..I applied for my tax last July when I was in Oz, I left Oz in October with my visa not finishing until March 2012..the question asks

"In 2011/2012 did you become an Australian resident or stop being an Australian resident"?

And you have to give a date of either when you became a resident or stopped being a resident...

Wondering which option should I be filling in?...and if I chose "Stopped being a resident"...should I put down the date I left Oz or the date my actual visa expired in March 2012?

Small bit paranoid I wont get my full claim!:(

rightyabe

Hey a friend is juat after telling me that because I worked 700km from perth on my first job and i'm currently working up north that I would be able to get some tax break..because I worked so far from Perth.

Any truth in that?

mandrake04

lols25 wrote: »

"In 2011/2012 did you become an Australian resident or stop being an Australian resident"?

And you have to give a date of either when you became a resident or stopped being a resident...

Wondering which option should I be filling in?...and if I chose "Stopped being a resident"...should I put down the date I left Oz or the date my actual visa expired in March 2012?

Small bit paranoid I wont get my full claim!:(

Its a simple enough question, an Australian resident is a permanent resident.

Did you become a permanent resident during 2011/2012?



** This question is not to be confused with the earlier question in the Tax program of are you a resident for Tax purposes**

mandrake04

rightyabe wrote: »

Hey a friend is juat after telling me that because I worked 700km from perth on my first job and i'm currently working up north that I would be able to get some tax break..because I worked so far from Perth.

Any truth in that?

Maybe he is getting confused with LAFHA, if you maintain a home in Perth but worked 700km away and rented something local there then you are entitled to a Living away from Home Allowance.

Had a look at it and there is a ZONE tax Offset

Are you entitled to claim a zone
tax offset or an overseas forces
tax offset?

You may be able to claim a tax
offset if you:
n lived or worked in a remote or isolated area of
Australia, not including an offshore oil or gas rig,
or
n served overseas as a member of the Australian
Defence Force or a United Nations armed force.

s.c

mandrake04 wrote: »

Its a simple enough question, an Australian resident is a permanent resident.

Did you become a permanent resident during 2011/2012?



** This question is not to be confused with the earlier question in the Tax program of are you a resident for Tax purposes**

This question is asked at part A2 in the etax program and relates to being a resident for tax purposes. Nothing to do with being a permanent resident.

DirkVoodoo

I went through the etax system, based on the sample PDF and on the $5218 paid at the higher "non-resident" rate it's estimating that I am owed $105.

I have either fudged up somewhere or the estimate is like this for everyone in my situation. Slightly worried about submitting it.

lols25

mandrake04 wrote: »

Its a simple enough question, an Australian resident is a permanent resident.

Did you become a permanent resident during 2011/2012?



** This question is not to be confused with the earlier question in the Tax program of are you a resident for Tax purposes**

Apologies I forgot to include the "for tax purposes"...

ellaq

rightyabe wrote: »

Hey a friend is juat after telling me that because I worked 700km from perth on my first job and i'm currently working up north that I would be able to get some tax break..because I worked so far from Perth.

Any truth in that?

You have to work for more than 182 days in the zone to qualify. But you can roll your days together over a couple of years if you don't have enough this year.

lols25

lols25 wrote: »

The question under the "Other Item" sub menu "A2 Part year tax free threshold" on E-Tax is causing me bother..I applied for my tax last July when I was in Oz, I left Oz in October with my visa not finishing until March 2012..the question asks

"In 2011/2012 did you become an Australian resident for tax purposes or stop being an Australian resident for tax purposes"?

And you have to give a date of either when you became a resident or stopped being a resident...

Wondering which option should I be filling in?...and if I chose "Stopped being a resident"...should I put down the date I left Oz or the date my actual visa expired in March 2012?

Small bit paranoid I wont get my full claim!:(

Anybody have any opinions?....

Also how do you go about getting it back by cheque rather than lodged to aussie bank a/c?

Thanks!!

markymark21

Got my refund yesterday.. $4K, nice

howwedoin

If u apply to get the medicare refund does it take longer for your refund to come back?

Feelgood

The first full week processing report from the Australian Taxation Office (ATO) is in. Almost a million 2011-2012 returns have been received since July 1, and just over 186,000 of those have been processed and received a refund.

Of the total 917,000 returns received as of Monday this week, 210,000 have been finalised, and 186,000 have received a refund. That translates as around 20 per cent getting a refund, though that proportion is probably skewed (you’re more likely to submit early if you know you’ll get money back). The total refund pool so far is $0.47 billion, which gives an average return of $2526.88. Again, that average will drop over time. The ATO aims to process 94 per cent of returns within 12 business days from submission.

Source

hussey

howwedoin wrote: »

If u apply to get the medicare refund does it take longer for your refund to come back?

Nope, unless you are waiting for your medicare cert

howwedoin

hussey wrote: »

Nope, unless you are waiting for your medicare cert

Ok, thanks. Not sure about a medicare cert. I just showed the agent my passport but I didn't have a 457 stamp on it so I gave him my 457 letter from immigration. Does that make any difference? He said it would take a month to a month and a half!

digiman

The first question on the tax form is:

Did you have a spouse - married or defacto - at any time during 2011-12?

Does this include your girlfriend if you are living with her? Does it make any difference to your tax credits?

yogimotorsport

I tired using that etax refund estimator and ended up with a estimate way less then last year so i think il have to chance a tax agent

tezzy_v2

I'm a bit confused with the medicare exemption, unless im missing something it looks like we're not exempt:


http://www.humanservices.gov.au/customer/services/medicare/medicare-levy-exemption

You may not be eligible for the exemption if you:

hold a permanent resident visa or have applied for a permanent resident visa
were a resident of the United Kingdom, the Republic of Ireland, Italy, Malta, Sweden, the Netherlands, Finland, Belgium, New Zealand, Norway or Slovenia before entering Australia
maintain a dependant or another person who was eligible for Medicare
are an Australian citizen living overseas for less than five years


Has anybody on a 417/457 obtained confirmation of exemption re 2011/2012 tax year?

markymark21

tezzy_v2 wrote: »

I'm a bit confused with the medicare exemption, unless im missing something it looks like we're not exempt:


http://www.humanservices.gov.au/customer/services/medicare/medicare-levy-exemption

You may not be eligible for the exemption if you:

hold a permanent resident visa or have applied for a permanent resident visa
were a resident of the United Kingdom, the Republic of Ireland, Italy, Malta, Sweden, the Netherlands, Finland, Belgium, New Zealand, Norway or Slovenia before entering Australia
maintain a dependant or another person who was eligible for Medicare
are an Australian citizen living overseas for less than five years


Has anybody on a 417/457 obtained confirmation of exemption re 2011/2012 tax year?

Yeh I signed my name on the Medicare exception form sent it to the tax agent, was worth an extra $400 or so to my refund

Hasmunch

Do we have to declare Tax paid on interest accrued from savings and if so what sections does it go in?

Mellor

tezzy_v2 wrote: »

I'm a bit confused with the medicare exemption, unless im missing something it looks like we're not exempt:


http://www.humanservices.gov.au/customer/services/medicare/medicare-levy-exemption

You may not be eligible for the exemption if you:

hold a permanent resident visa or have applied for a permanent resident visa
were a resident of the United Kingdom, the Republic of Ireland, Italy, Malta, Sweden, the Netherlands, Finland, Belgium, New Zealand, Norway or Slovenia before entering Australia
maintain a dependant or another person who was eligible for Medicare
are an Australian citizen living overseas for less than five years


Has anybody on a 417/457 obtained confirmation of exemption re 2011/2012 tax year?

That's a mistake, its supposed to say Northern Ireland. When you follow the link to the actual form it is correct.

https://www.medicareaustralia.gov.au/public/files/ma_3169_application_for_certification_for_medicare_levy_exemption_purposes_011005.pdf

People from the republic aren't entitled to medicare, therefore we are exempt. Nothing has changed this year in that regard, I've gotten exemption on both 417 and 457 visas.

Xavi6

Hasmunch wrote: »

Do we have to declare Tax paid on interest accrued from savings and if so what sections does it go in?

Yes, if you prefill it should automatically go in for you as your bank provides the ATO with the details. Can't remember the exact section though if you're doing it yourself.

s.c

Xavi6 wrote: »

Yes, if you prefill it should automatically go in for you as your bank provides the ATO with the details. Can't remember the exact section though if you're doing it yourself.

Done mine today. It under number 10 in the income section.

Slidey

Any truth to what I was told that you can't claim any tax back until you have been in the country 6 months