How was your tax return? (1 Viewer)

[glycerine]

lol, am i chaining you down and demanding you tell in my exact numbers how much you got back? calm the fuck down you gronk, good for you for working ~60 hours a week. hey, out of interest, since you obviously have little time left over, what with just finishing the hsc as well as working nearly double a fulltime load, why are you actually on here? cuz if i was you, i would be utilising the time i have to actually have a life.

just interested

edit - thanks bon

 

[pirate]

lol, am i chaining you down and demanding you tell in my exact numbers how much you got back? calm the fuck down you gronk, good for you for working ~60 hours a week. hey, out of interest, since you obviously have little time left over, what with just finishing the hsc as well as working nearly double a fulltime load, why are you actually on here? cuz if i was you, i would be utilising the time i have to actually have a life.

just interested

edit - thanks bon

um i assume your talking to me so year, last year i paid a little over 1600 in tax and got back a little over 1200. and about the working bit, i started work 3 days after my last exam, i work until about 5-6 in the arvo and then i spend the rest of the time to unwind, and basically i do have a life. that is so far from the truth. i live in a rural area so to have a life involves the pub, therefore i have a very good life

 

[Cyph]

I'm boredline insomniac these days anyway, and plus I'm out of action due to an injury that means I'm not allowed to work for a week because I handle food. And I don't have a life, though if you know where I can buy one, be sure to drop me a line, especially if there's a sale on somehwere.

And Cyph, people who live in glass houses and all that - don't attack one user and leave everyone else alone. We're all guilty of a little showing off. And sinc I like to speak my mind, just try and stop me from posting in whichever threads I want.

Mate, the question was just a general question for people who wanted to answer to reply.

There's no need to come on here and say NOYB. If someone doesn't reply, we would assume they don't want to tell (or didn't have a tax return).

You obviously wanted to impress by implying you'll get so much back you shouldn't be telling people. If you had of just posted a rough estimate, no one would have really thought anything much about it.

Don't see what you're boasting about really, 'cause I'll be claiming every cent I pay in tax back through related expenses.

 

[pirate]

Don't see what you're boasting about really, 'cause I'll be claiming every cent I pay in tax back through related expenses.

you can only do that if u don't earn a large amount of money. Accountants can only go so far in their expenses, that is unless u actually made them before receipts are needed. i know my bro got the most back as possible for me without needing receipts

 

[glycerine]

um i assume your talking to me so year, last year i paid a little over 1600 in tax and got back a little over 1200. and about the working bit, i started work 3 days after my last exam, i work until about 5-6 in the arvo and then i spend the rest of the time to unwind, and basically i do have a life. that is so far from the truth. i live in a rural area so to have a life involves the pub, therefore i have a very good life

haha no mate, i was talking to argonaut

argonaut-

'tell me where to buy a life'? please, astound me with your originality here. as cyph said, there was no need to make a big deal of *not* telling us. not me, us. this is a discussion that i read every once in a while when it comes up. really, get over it.

 

[pirate]

opps my bad. BTW argonaut if ur only going to nudge a four digit number this year isn't all that great, i worked out if i worked minimum hours until feburary 3 (that is 56hrs a week), that is no overtime, (compared with at least 65) i'll walk away with just over 13000, so u can't have to much bragging rites soz mate. even though i don't ever, not the best of jobs i mite add

 

[Cyph]

you can only do that if u don't earn a large amount of money. Accountants can only go so far in their expenses, that is unless u actually made them before receipts are needed. i know my bro got the most back as possible for me without needing receipts

The more money you earn, the more you can claim back.

Going from non-advisory broker -> Full Service broker - $150 for a round trade compared to $40-60!! I wouldn't use one now as it'd cut into my capital & gains too much
Getting AFN delivered every day
Buying $1500 software
Buying $1000 courses
Various market reports, etc.
Negative gear a house (whether it's a good idea or not, I don't know..)
Write off Internet costs, computer costs, phone costs, etc.

There's plenty there...

If you really move up into the big league, setting up a corporation in the Caymand Island and trading from that would be worthwhile... no tax and if the govt. audits you for tax, you'd just liquidate out all your assets and be gone before they can get to you, lol.

 

[pirate]

The more money you earn, the more you can claim back.

the only reason you can claim more back is because you actually pay more tax. i meant that you wouldn't be able to claim it all back.

 

[Cyph]

the only reason you can claim more back is because you actually pay more tax. i meant that you wouldn't be able to claim it all back.

I reckon you can... you can always find more shit to buy

You can roll over capital losses and expenses from previous years as well..

 

[pirate]

yeah but now ur talking about expenses so in order to get alot of money back u have to spend alot on WORK relatedn materials. and then u need the receipts to back it up in case the tax man comes a-knocking

 

[LeftrightOut]

It would be a seriously bad move to buy useless crap to lower your tax, first off you are reducing your assessable income level not the tax directly, so for every dollar you spend you are not losing one dollar of tax you are losing one dollar of assessable income.

Then there's the issue of whether the purchases were for the direct purpose of carrying out your CURRENT situation. You can not claim shit if you are doing things for somewhere down the track, it has to be relevant to what you do at that point.

The more money you earn, the more you can claim back.

No it's the more money you spend/lose as a direct cost of carrying out your current situation that you can claim back from your assessable income. All your examples are just that, spending money, nowhere is the idea of earning money shown to increase your tax return, you might blow a grand on software, but you will only get back $470 on that AT BEST. You will still be out $430 for it, in my mind that would be $430 I could spend on somehting more worthwhile.

Feel free to disagree but I think you are putting your money into the wrong things if you want to increase wealth, you need to make a LOSS that will turn into a GAIN later on. Not spend on some frivolous piece of crap that you bought to make you feel like you are sticking it to the man.

 

[rumour]

Last year I got about ~ 300


This year it was only like ~20

 

[tennille]

I only got $47 this year.

 

[hipsta_jess]

This is going to sound uber-dumb, but once I get a job and all that...how do I actually do my tax? Like, I have my TFN, but thats all I know, lol.

 

[tennille]

This is going to sound uber-dumb, but once I get a job and all that...how do I actually do my tax? Like, I have my TFN, but thats all I know, lol.

My mum did it for me. It's too late to do it now- you'll have to wait till next year.

 

[hipsta_jess]

yeah, I know that much

ok, so I lied, I know I need a TFN and that mine won't be done til like next financial yr or whatever...but thats it!

Do I just get a bit of paper and fill out?

 

[LeftrightOut]

This is going to sound uber-dumb, but once I get a job and all that...how do I actually do my tax? Like, I have my TFN, but thats all I know, lol.

You fill out a declaration form from your workplace. They will Pay As You Earn so they will take it out before you get paid, along with Superannuation. 2-6 weeks after the end of the tax year your workplace will send you a group certificate that shows how much tax they have paid on your behalf. You use this certificate and all your receipts for deductions to fill out the tax pack provided by the tax office, alternatively you go to an accountant with all this information. Once you have filled it out you then send it away to the tax office.

If you need to pay additional tax you will be asked to do so, if you are going to get a refund you will wait 1-5 weeks after sending your tax paperwork away and get your refund. You can usually pick whether to have a cheue cut or have them deposit the money straight into your nominated bank account.

 

[ezzy85]

or you can use etax from www.ato.gov.au i think and thatll explain everything step by step.

 

[LaZy_KoReAn]

What's a good date to start preparing for tax returns?

Im hearing people organising their tax returns this month for the deadline?

What the hell is that about?


I need help!!

 

[+Po1ntDeXt3r+]

my return was good