Australian tax thread 2013

oztax

Hi guys

Just did the prefill section on etax and am devastated at the figure they quoted me- $33

I earned around 16K gross during 5 months work, paid nearly 5K tax! WTF anyone shed any light, could I have gone wrong somewhere or could the claiming lots of taxback be a myth? :mad:

Also had no expenses/medicare etc to claim back....

Thanks to anyone who can shed some light on this

*******************
Mod Please note I have created a new thread merged off the 2012 one from the start of 01/07/2013.
Hussey

rightyabe

oztax wrote: »

Hi guys

Just did the prefill section on etax and am devastated at the figure they quoted me- $33

I earned around 16K gross during 5 months work, paid nearly 5K tax! WTF anyone shed any light, could I have gone wrong somewhere or could the claiming lots of taxback be a myth? :mad:

Also had no expenses/medicare etc to claim back....

Thanks to anyone who can shed some light on this

Deffo a mistake. You should get all back I'd day seeing you earned under 18200.

oztax

Thanks for quick reply, it says my gross tax payable is 5000! is there anything obvious I'm missing??

hussey

You need to make sure your resident for tax purposes = Y, and you are paying no medicare levy, you should pay close to 0 tax, as you are in the low earner bracket

Kiith

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?

oztax

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!

Legend100

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

rightyabe

Legend100 wrote: »

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

From 18200-37000 you pay 19cents on every dollar earned.

37001-80000 it's 32.5cents on each dollar. Plus the 19% on the 18200-37000...

hussey

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

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

rightyabe

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.

oztax

great again thanks a million for the help and all the answers- much appreciated!!!

hawkeye_bmr

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

hawkeye_bmr wrote: »

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"?

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

Legend100

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

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.

PirateShampoo

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.

aido79

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.

Have a look at the Australian tax office website www.ato.gov.au or look up tax calculator for a rough estimate. If you earn $80000 you will pay around $3500 in tax so depending on your expenses don't expect much back. Don't forget to claim the medicare exemption levy if you are on a working holiday visa. This is around 1.5% of what you earn and its automatically paid by everyone so you need to claim it back.

hussey

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

cikearney

I applied for Medicare exemption 6 weeks ago and still no cert. I done my return using etax in the tax office and the would let me claim because I didn't physically have the cert yet

danotroy

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

lavelle72

In the Medicare section in etax, after choosing to apply for the exemption it asks for private health insurance details, contributions etc - I don't remember having to provide this other years?

*Edit: spoke to BUPA and they said my basic visitors cover (on a 457) was not a complying private health insurance fund and as such I don't get a tax statement. She said I can bypass that question by answering 'no'...

Mikester21

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?

Legend100

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?

are you on a 457 - i.e are you exempt from medicare and have put down that you are exempt on e-tax?

Diddler82

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

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


Is this correct or should I enter 1 July 2012?

also, if i am on a de-facto 457 visa am I de-facto for tax return purposes?

cikearney

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

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?

Legend100

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

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?

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!

Legend100

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

monariek

cant verify my identity online so i have to post my return i presume?


that extends the period of receipt from 12 business days to 50....what a blow

mandrake04

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!

are you talking about the health insurance government rebate that's on your statement?

Legend100

give it another two weeks or so and your company will have lodged their payg return or the bank will have submitted your interest record (if you gave your tfn and earned interest)

then you wil be able to be verified on e-tax

monariek

Legend100 wrote: »

give it another two weeks or so and your company will have lodged their payg return or the bank will have submitted your interest record (if you gave your tfn and earned interest)

then you wil be able to be verified on e-tax

cool, cheers boss

manlad

Anybody get their return yet? lodged mine last wednesday so hoping to hear something early next week.

Slidey

Etax website is such a pain in the arse. Having to log in every time they ask you a question. I also dont like the way they question every single thing you put down.

They even questioned my rural tax credit thingy which is not even listed on their site, I had to bring it up. Im sorry Im using them again. Next year for sure I am calling into an agent on the street

markymark21

manlad wrote: »

Anybody get their return yet? lodged mine last wednesday so hoping to hear something early next week.

No not yet. Got $3500 big ones comin my way :cool:

manlad

markymark21 wrote: »

No not yet. Got $3500 big ones comin my way :cool:

Near enough the same as myself. I'm back in Ireland now so it kind of feels like free money. The Superannuation did anyway.

kfc1210

I am slightly worried about mine, i have used an accountant for the last 2 years and i came home in April and i met him before i left to discuss it and he nows im not coming back...

I have emailed him my group certs and nothin yet, im aware it takes up to 10 working days but im wondering does he have to put his details in as an accountant to lodge it? Its hardly a thing you would get scammed at is it?!

Legend100

manlad wrote: »

Anybody get their return yet? lodged mine last wednesday so hoping to hear something early next week.

Lodged mine on the night of Friday the 5th and refund is in my account today

colman1212

Went to do my return today with an accountant he said I had to have a medicare exemption vert or i'd lose out on 4 grand! Does everyone get these? I didnt last year like? I think I sent a letter off for one and got some weird response about 4 months later.

Batgurl

colman1212 wrote: »

Went to do my return today with an accountant he said I had to have a medicare exemption vert or i'd lose out on 4 grand! Does everyone get these? I didnt last year like? I think I sent a letter off for one and got some weird response about 4 months later.

Yea, they seem to be cracking down on that this year.

My agent told me the same even though I didn't get one last year. Should only take 2 weeks he said.

markymark21

colman1212 wrote: »

Went to do my return today with an accountant he said I had to have a medicare exemption vert or i'd lose out on 4 grand! Does everyone get these? I didnt last year like? I think I sent a letter off for one and got some weird response about 4 months later.

Yup I did one last year and again this year. Pain in the tits as you have to get every page of your passport signed etc

monariek

Legend100 wrote: »

Lodged mine on the night of Friday the 5th and refund is in my account today

how did you manage to verify your identity so quickly?

Legend100

If it is not your first tax return, you can verify your identity with last years assessment

manlad

Got my return yesterday morning, took exactly 5 days. Just a pity the exchange rate is absolutely shit.

hussey

Mod Please enter all tax questions in here.
I'll make sticky for a month, as there will be a lot of tax questions.

I'm sorry in the delay of creating this.

Please note, the tax thread of 2012 contains a shed load of info and can be found here: http://www.boards.ie/vbulletin/showthread.php?t=2056688769

Little Sunshine

Hi
I'm a new bee to this tax return - arrived in January 2013 on PR visa and started work at end of Feb. What do I do? log on to etax and complete the form - is that correct?
I don't have private health cover - do I need to get it - a person in work said U will get charged a lot of tax cause I don't have private health cover. Anyone have experience of this

Thanks

Kiith

So i'm going to apply for my medicare exemption cert today (once i get everything signed off). Should i wait to get it before claiming my tax back, or hope i just don't get asked for it?

hussey

In theory you should wait, but if you have been on a WHV/457 for the entire tax year, then apply without it. But do apply for it as if 2/3 years down the line they ask for it you have it.

(which happened to me, luckily medicare had a record of my application)