2008 tax return thread (1 Viewer)

[lala2]

Just have a few questions to ask, thought I'd kick off tax return season.

- If you want to claim your textbooks as work related expenses, and they're more than $300, do you have to provide the receipt and that's it? And obviously a copy of the receipt, not the original, yeah?
- Can you claim personal super contributions? I read the ATO website and I'm quite confused as to the title--"Claiming deductions for personal super contributions"--when they mean by tax deduction, do they mean it's claimable in the sense of any other claim like a work-related one so you'll get more tax back or do they mean that they will deduct from the tax they are returning you? Actually, if anyone could just explain the whole process very simply that would be much appreciated.
- Can you only claim for purchases made in the 2007-08 financial year? Cos I bought a laptop in June 2007, which obviously falls outside the 07-08 financial year.
- What if you worked during the 07-08 financial year but aren't getting paid until this 08-09 financial year, what does that come under? So i.e. you were working last week but your pay for that work is not due to arrive until this week or next week, for example.

Thanks!

 

[velox]

You can't claim your laptop. But generally you depreciate it over 3 years at 30% per year. So you could claim it for this year and next year (but not 3 years in total).

Dont worry about when you are paid etc, it should be the amount that is shown on your group certificate.

Disclaimer: Double check what I said, after all I havent done a tax return in 2 years.

 

[lala2]

Yeah, I'm just worried because I worked on Friday but I wasn't able to put in a pay claim form as the office was locked when I returned (yup, work requires me to be physically away from the office) and even though I got emailed the pay claim form, by the time it gets back to the office it will be next Monday at the earliest and we only get paid fortnightly. Hmph. Maybe I should just ring up my boss and ask.

 

[hopeles5ly]

回复: 2008 tax return thread

Just some questions.
- how long does it take to get your tax return back?
- are group certificates already prepared by companies? If not, when does everyone usually receive them?

 

[Meads]

Just have a few questions to ask, thought I'd kick off tax return season.

- If you want to claim your textbooks as work related expenses, and they're more than $300, do you have to provide the receipt and that's it? And obviously a copy of the receipt, not the original, yeah?
- Can you claim personal super contributions? I read the ATO website and I'm quite confused as to the title--"Claiming deductions for personal super contributions"--when they mean by tax deduction, do they mean it's claimable in the sense of any other claim like a work-related one so you'll get more tax back or do they mean that they will deduct from the tax they are returning you? Actually, if anyone could just explain the whole process very simply that would be much appreciated.
- Can you only claim for purchases made in the 2007-08 financial year? Cos I bought a laptop in June 2007, which obviously falls outside the 07-08 financial year.
- What if you worked during the 07-08 financial year but aren't getting paid until this 08-09 financial year, what does that come under? So i.e. you were working last week but your pay for that work is not due to arrive until this week or next week, for example.

Thanks!

Haven't posted on BOS for a while but here we go...

1) Yes if you intend to claim your textbooks as a deduction you are expected to have receipts as proof of purchase. Keep in mind that just because you have a job and go to uni at the same time does not mean that you can claim a deduction for your text books.

The course must have a sufficient connection to your current employment, ie it maintains or improves the specific skills or knowledge you require in your current employment, or results in, or is likely to result in, an increase in your income from your current employment. The bottom line is really, it is unlikely that you fall under this umbrella if you are studying an undergraduate degree.

2) I am pretty sure the super deductions you are referring to are applicable to contractors/people who work for themselves. Super contributions are generally paid on your behalf by the employor pre-tax anyway.

3) You should of started claiming depreciation on the laptop last year. Technically you should amend last years tax return, but I would not bother and just start depreciating this year. I have of course assumed that your laptop is used for purposes of producing assessable income.

4) Velox's response re when you get paid is correct. Only worry about the figure on your group certificate.

 

[blakegman]

I wish the ATO hadn't broken the Pre-fill service. That thing is great.

Any idea when it will be back up ?

 

[lala2]

Haven't posted on BOS for a while but here we go...

1) Yes if you intend to claim your textbooks as a deduction you are expected to have receipts as proof of purchase. Keep in mind that just because you have a job and go to uni at the same time does not mean that you can claim a deduction for your text books.

The course must have a sufficient connection to your current employment, ie it maintains or improves the specific skills or knowledge you require in your current employment, or results in, or is likely to result in, an increase in your income from your current employment. The bottom line is really, it is unlikely that you fall under this umbrella if you are studying an undergraduate degree.

Hey, thanks for this. Yeah, I'm doing pharmacy and I'm....well, was up until last week...working at a pharmacy, so my textbooks will hopefully count, because they all are the essential refs we need to practice.

2) I am pretty sure the super deductions you are referring to are applicable to contractors/people who work for themselves. Super contributions are generally paid on your behalf by the employor pre-tax anyway.

Sorry, what I meant was the personal contribution you put in to claim the co-contribution back from the govt--can you claim it? So I've just put in my $1,000 to get the $1,500, is that claimable?

3) You should of started claiming depreciation on the laptop last year. Technically you should amend last years tax return, but I would not bother and just start depreciating this year. I have of course assumed that your laptop is used for purposes of producing assessable income.

Yeah, I actually didn't know you can and my Dad mentioned it this year. Someone mentioned a 30% figure--is that just dividing by the three claimable years?

4) Velox's response re when you get paid is correct. Only worry about the figure on your group certificate.

Ok, I will submit my pay claim form when I can and see whether it gets included or not in the group certificate. Thanks!

 

[spence]

Sorry, what I meant was the personal contribution you put in to claim the co-contribution back from the govt--can you claim it? So I've just put in my $1,000 to get the $1,500, is that claimable?

I'm pretty sure it isn't, I think I read somewhere that the co-contribution only applies to contributions not counted as tax deductions. so you can either claim it as a deduction or get the co-contribution, but not both

 

[Stevo.]

So when can we start doing our tax returns? I just go my group certificate today.

 

[spence]

You can do them now. I just did mine

 

[icraig88]

you already got your group certificate? fuck me that was quick.

 

[icraig88]

got mine yesterday and did it via e-tax. i had $3833 in tax and estimated refund is $2620. wtf? i know im not expecting the same amount back but fucking hell isnt that too much. $1200 fuking dolllars difference

 

[blue_chameleon]

got mine yesterday and did it via e-tax. i had $3833 in tax and estimated refund is $2620. wtf? i know im not expecting the same amount back but fucking hell isnt that too much. $1200 fuking dolllars difference

So you paid a total of $3833 of tax in total for the year, and it's saying $2,620 refund?

Check it again. The ATO is fairly reasonable with mistakes, but not if you don't tell them.

 

[spence]

you already got your group certificate? fuck me that was quick.

Yeah for some reason our work gave them to us like a week before the financial year ended. Seems a bit strange

got mine yesterday and did it via e-tax. i had $3833 in tax and estimated refund is $2620. wtf? i know im not expecting the same amount back but fucking hell isnt that too much. $1200 fuking dolllars difference

How much did you earn?

 

[HyPnOtiSeD]

I have a question -

I get paid on Tuesday's for the pay week before ... so the last time i got paid before the 30th June was the 24th June ...so when i worked the 25th-30th that was paid to me on the 1st July... so is that pay included in last financial year or the new year since it was paid on 1st July?

Thanks

 

[IMABOYDAMON!]

Can't wait for my tax return. I'm getting $85! OOHH YEHH!

 

[milocole]

Me ex Empplyer, Maccas, will proably see my group certificate and tear it up lol, is this illegal

 

[Bored User]

Hi everyone :wave:

If I earn below $6000.00 in the 2007/2008 financial year, do I still have to lodge a Tax Return? If not, is there anything that I should do (like advise the Tax Office?).

This is my 1st job and I only started working at end of June for 2 hours, earning $20.00 - haha.

 

[Charizard]

Hi everyone :wave:

If I earn below $6000.00 in the 2007/2008 financial year, do I still have to lodge a Tax Return? If not, is there anything that I should do (like advise the Tax Office?).

This is my 1st job and I only started working at end of June for 2 hours, earning $20.00 - haha.

no you don't have to do it. No point

 

[Bored User]

Yay! Thanks