TAX
Posted: Wed Jul 15, 2009 11:53 amhow much do u have to earn below to get all ur tax back?
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Posted: Wed Jul 15, 2009 11:53 amRe: TAX
Posted: Wed Jul 15, 2009 11:56 am$6000 I believe
Re: TAX
Posted: Wed Jul 15, 2009 11:58 amdammit she was right
someone i know earnt 12000 i think and paid 2000 lets just say for argument sake... when they did their tax they got it all back... why is this?
someone i know earnt 12000 i think and paid 2000 lets just say for argument sake... when they did their tax they got it all back... why is this?
Re: TAX
Posted: Wed Jul 15, 2009 11:59 amYeah, I thought this was amount was raised quite substantially not long ago.
Any ATO workers here?
Any ATO workers here?
Re: TAX
Posted: Wed Jul 15, 2009 12:03 pmJohno6 wrote:dammit she was right
someone i know earnt 12000 i think and paid 2000 lets just say for argument sake... when they did their tax they got it all back... why is this?
does she have dependants?
Re: TAX
Posted: Wed Jul 15, 2009 12:06 pmThanks for the reminder Johno, I am now downloading the etax2009 so I can do my return whilst I'm doing my regular work, I got my group certificate yesterday.
Re: TAX
Posted: Wed Jul 15, 2009 12:07 pmLightning McQueen wrote:Johno6 wrote:dammit she was right
someone i know earnt 12000 i think and paid 2000 lets just say for argument sake... when they did their tax they got it all back... why is this?
does she have dependants?
i have no idea what that means
Re: TAX
Posted: Wed Jul 15, 2009 12:07 pmFooty Chick wrote:Yeah, I thought this was amount was raised quite substantially not long ago.
Any ATO workers here?
Email received from my accountant recently:
You can have a taxable income of $14,000 before you pay any tax.
Therefore if your super deduction puts you below this level there would be no tax benefit.
However the super fund will have to pay 15% contributions tax.
Between $14,000 and $34,000 your personal tax rate is 15%, which is the same as the contributions tax rate.
It suits me to take that to mean, "Don't bother working unless you earn $34K plus whatever you want to drop into your super fund for the financial year."
Re: TAX
Posted: Wed Jul 15, 2009 12:09 pmso even tho she paid say 2000 tax she gets it all back?
i got 250 back in tax.... wow...
better than nothing
i got 250 back in tax.... wow...
better than nothing
Re: TAX
Posted: Wed Jul 15, 2009 12:09 pmJohno6 wrote:Lightning McQueen wrote:Johno6 wrote:dammit she was right
someone i know earnt 12000 i think and paid 2000 lets just say for argument sake... when they did their tax they got it all back... why is this?
does she have dependants?
i have no idea what that means
Children in her care
Re: TAX
Posted: Wed Jul 15, 2009 12:13 pmPsyber wrote:Footy Chick wrote:Yeah, I thought this was amount was raised quite substantially not long ago.
Any ATO workers here?
Email received from my accountant recently:You can have a taxable income of $14,000 before you pay any tax.
Therefore if your super deduction puts you below this level there would be no tax benefit.
However the super fund will have to pay 15% contributions tax.
Between $14,000 and $34,000 your personal tax rate is 15%, which is the same as the contributions tax rate.
It suits me to take that to mean, "Don't bother working unless you earn $34K plus whatever you want to drop into your super fund for the financial year."
You lost me at hello
Re: TAX
Posted: Wed Jul 15, 2009 12:16 pmLightning McQueen wrote:Johno6 wrote:Lightning McQueen wrote:Johno6 wrote:dammit she was right
someone i know earnt 12000 i think and paid 2000 lets just say for argument sake... when they did their tax they got it all back... why is this?
does she have dependants?
i have no idea what that means
Children in her care
No
Re: TAX
Posted: Wed Jul 15, 2009 12:22 pmJohno6 wrote:Lightning McQueen wrote:
Children in her care
No
She may have deductions from education or travel expenses. The wise Psyber would probably have an accurate analysis of the situation. Earning $12K she should've paid $900 tax for the year, could've claimed up to $300 in clothing etc. Leaves $600 floating around.
Re: TAX
Posted: Wed Jul 15, 2009 12:27 pmThere's also a low income rebate on top of the $6000 tax free thresshold
Re: TAX
Posted: Wed Jul 15, 2009 12:39 pmNot to mention SATO if they are elderly
Re: TAX
Posted: Wed Jul 15, 2009 8:02 pmThe tax free threshold is $7600 per annum.
Re: TAX
Posted: Wed Jul 15, 2009 8:26 pmDon't you Love this time of year.
A Mamoth tax return for Dog_ger
Dog_ger the Tax Accountant.
A Mamoth tax return for Dog_ger
Dog_ger the Tax Accountant.
Re: TAX
Posted: Wed Jul 15, 2009 8:28 pmDog_ger wrote:Don't you Love this time of year.
A Mamoth tax return for Dog_ger
Dog_ger the Tax Accountant.
Its like the lottery for me being self employed ...have I paid them enough in PAYG tax or am I in for a mammoth debt ????
Re: TAX
Posted: Wed Jul 15, 2009 9:26 pmlesthemechanic wrote:The tax free threshold is $7600 per annum.
According to the ATO website, the tax free part is $6,000 for the 2008/2009 year, as well as the 2009/2010 year.
http://www.ato.gov.au/individuals/conte ... /12333.htm
Re: TAX
Posted: Wed Jul 15, 2009 10:08 pmI think its best to contact the ATO directly ... and not rely on the advice on this site