I agree, it sucks to have to pay back a large amount. But if someone owes tax, it’s because it hasn’t already been taken out of your pay and you’ve effectively been paid more money than you should have been. Why is everyone so keen to find loopholes and not pay to the community what they owe?
Taxes pay to keep the nation, including *your* community, running. They pay for roads, education, hospitals, police, firefighting, the legal system, low income support, etc etc. I dont always agree with how much is spent where (e.g. defence), but they are an absolutely necessary part of life. If someone is earning a decent amount of money, then instead of trying to avoid paying what they owe to support the services that we *all* use, they should realise that they are not just taking ‘from the government’, they are unfairly taking from everyone else
Nothing wrong with using accountants to obtain fair, legal tax deductions – but there is something wrong with trying to find loopholes so that you dont need to pay what everyone else is paying.
Bev, this isnt an attack on you, by any means – as far as I know you havent tried to get your way out of it unfairly
I don’t think people mean “find loopholes” as in, “let’s do tax evasion”, since that’s a crime and all. It’s more like people think I’m filling in the fields wrongly, that’s why my tax is so shockingly high. I think I did too, because I noticed I did something wrong and when I fixed it, it tells me I owe $200 tax instead of $700+. I ***REALLY*** need to get an accountant to just look at it and make sure I’m doing it right and not paying the government just for the pure hell of it.
People mainly gripe at tax ‘cos it’s so utterly incredibly high here I s’pose. It’s double (!) what you’d pay in other countries.. so technically, you’d want everything to be twice as wonderful 😉
Basically just sucks if you more $$ than average.. better to only earn a little or be a student, which is what I really come to miss being when it comes to tax-paying time!
Actually in Australia we pay much *less* tax than lots of places – out of the 30 OECD countries, Australia is the 7th *lowest* average rate of personal income tax. This is all from the OECD tax database, I just looked it up! We even pay less than the US.
We definitely do pay more than non-OECD countries, which includes most of Asia, Eastern Europe, Africa and South America (ie, the huge majority of countries in the world) but a) we have much higher salaries, and b) it’s impossible to compare the standard of living in those countries to our standard in Australia (and especially all the amenities we take for granted, including good roads, free emergency health care, subsidised pharmaceuticals, public transport infrastructure, sanitation etc etc). We have those extra advantages because we pay for them!
And still better to earn a lot!!!!!!!!! 😉
Haha that makes sense.. I was comparing against Asian and E European countries, of which I know their tax brackets! I can’t believe that the top income bracket of some countries are up at 50% though! A bit painful :X
Hey, in Singapore the tax is flat rate of about 20-25% and the wage is the same (but senior positions get paid more, low/casual jobs pay jack all), and there’s cheaper public transport and sanitation, etc.. but I think that’s because it’s a small country.. kind of like trying to keep a small family in order and running smoothly against running a huge family. Really wish AU had lower tax though 🙁 I could do with all the extra k’s! I’m just in shock ‘cos last year I was a student and got $$ back, and this year it’s drastically different.
What services you prepared to give up?
I agree I would like to have more money in my pocket, but having said that what public services do you want to give up?
Low priced drugs, roads, Social Security, Law enforcement, hospitals, etc.
Don’t look at it as a tax but as a cost of living.
Molly
Re: What services you prepared to give up?
Oh, I’m not willing to give those up. I’m comparing to countries that have ALL those public services (ie. just as good or better/cheaper), yet have a LOWER tax rate for it’s residents.
Yes but…
You’re looking at the “average rate” of tax. If you examine the brackets and tax rates per bracket, you’ll find it quite different.
Here’s what David Uren said:
“People on high incomes in Australia pay an average of 33 per cent of their total income in tax, which is close to an OECD average that is skewed by the high tax rates paid in much of Europe.
In the US and Britain, high-income earners pay between 27 and 29 per cent of their income in tax.”
Although I, as much as anyone else recognise the need for social welfare, there is alot more to be desired. Australia seems to have this culture of supporting everyone and anyone, which isn’t a completely bad thing until someone (an opportunist?) sees advantage in it. I guess it’s near impossible to police all aspects of our welfare system, but I sincerely believe in tighening nooses. For sometime, Australia has suffered from a mild case of bracket creep (Until this year’s federal budget which attempts to address the problem). Also, take into consideration that tax on income is calculated and compared with OECD ex. other levies, GST, property/capital taxes and other misc taxes (Which Australia is ahead in). I guess what you have to account for is the average disposible income per household as an index of cost of living with CPI accountability. Might give a fairer view of how we’re doing.
But there’s an opinionated essay you didn’t want. Sorry 🙂
I agree, it sucks to have to pay back a large amount. But if someone owes tax, it’s because it hasn’t already been taken out of your pay and you’ve effectively been paid more money than you should have been. Why is everyone so keen to find loopholes and not pay to the community what they owe?
Taxes pay to keep the nation, including *your* community, running. They pay for roads, education, hospitals, police, firefighting, the legal system, low income support, etc etc. I dont always agree with how much is spent where (e.g. defence), but they are an absolutely necessary part of life. If someone is earning a decent amount of money, then instead of trying to avoid paying what they owe to support the services that we *all* use, they should realise that they are not just taking ‘from the government’, they are unfairly taking from everyone else
Nothing wrong with using accountants to obtain fair, legal tax deductions – but there is something wrong with trying to find loopholes so that you dont need to pay what everyone else is paying.
Bev, this isnt an attack on you, by any means – as far as I know you havent tried to get your way out of it unfairly
I don’t think people mean “find loopholes” as in, “let’s do tax evasion”, since that’s a crime and all. It’s more like people think I’m filling in the fields wrongly, that’s why my tax is so shockingly high. I think I did too, because I noticed I did something wrong and when I fixed it, it tells me I owe $200 tax instead of $700+. I ***REALLY*** need to get an accountant to just look at it and make sure I’m doing it right and not paying the government just for the pure hell of it.
People mainly gripe at tax ‘cos it’s so utterly incredibly high here I s’pose. It’s double (!) what you’d pay in other countries.. so technically, you’d want everything to be twice as wonderful 😉
Basically just sucks if you more $$ than average.. better to only earn a little or be a student, which is what I really come to miss being when it comes to tax-paying time!
Actually in Australia we pay much *less* tax than lots of places – out of the 30 OECD countries, Australia is the 7th *lowest* average rate of personal income tax. This is all from the OECD tax database, I just looked it up! We even pay less than the US.
We definitely do pay more than non-OECD countries, which includes most of Asia, Eastern Europe, Africa and South America (ie, the huge majority of countries in the world) but a) we have much higher salaries, and b) it’s impossible to compare the standard of living in those countries to our standard in Australia (and especially all the amenities we take for granted, including good roads, free emergency health care, subsidised pharmaceuticals, public transport infrastructure, sanitation etc etc). We have those extra advantages because we pay for them!
And still better to earn a lot!!!!!!!!! 😉
Haha that makes sense.. I was comparing against Asian and E European countries, of which I know their tax brackets! I can’t believe that the top income bracket of some countries are up at 50% though! A bit painful :X
Hey, in Singapore the tax is flat rate of about 20-25% and the wage is the same (but senior positions get paid more, low/casual jobs pay jack all), and there’s cheaper public transport and sanitation, etc.. but I think that’s because it’s a small country.. kind of like trying to keep a small family in order and running smoothly against running a huge family. Really wish AU had lower tax though 🙁 I could do with all the extra k’s! I’m just in shock ‘cos last year I was a student and got $$ back, and this year it’s drastically different.
What services you prepared to give up?
I agree I would like to have more money in my pocket, but having said that what public services do you want to give up?
Low priced drugs, roads, Social Security, Law enforcement, hospitals, etc.
Don’t look at it as a tax but as a cost of living.
Molly
Re: What services you prepared to give up?
Oh, I’m not willing to give those up. I’m comparing to countries that have ALL those public services (ie. just as good or better/cheaper), yet have a LOWER tax rate for it’s residents.
Yes but…
You’re looking at the “average rate” of tax. If you examine the brackets and tax rates per bracket, you’ll find it quite different.
Here’s what David Uren said:
“People on high incomes in Australia pay an average of 33 per cent of their total income in tax, which is close to an OECD average that is skewed by the high tax rates paid in much of Europe.
In the US and Britain, high-income earners pay between 27 and 29 per cent of their income in tax.”
Although I, as much as anyone else recognise the need for social welfare, there is alot more to be desired. Australia seems to have this culture of supporting everyone and anyone, which isn’t a completely bad thing until someone (an opportunist?) sees advantage in it. I guess it’s near impossible to police all aspects of our welfare system, but I sincerely believe in tighening nooses. For sometime, Australia has suffered from a mild case of bracket creep (Until this year’s federal budget which attempts to address the problem). Also, take into consideration that tax on income is calculated and compared with OECD ex. other levies, GST, property/capital taxes and other misc taxes (Which Australia is ahead in). I guess what you have to account for is the average disposible income per household as an index of cost of living with CPI accountability. Might give a fairer view of how we’re doing.
But there’s an opinionated essay you didn’t want. Sorry 🙂
You poor thing. =( Do you have any accountant friends that might be able to walk you through it? Maybe take them out for dinner/drinks in return – who can say no to a nice dinner? 😉
James hasn’t gotten his tax back because his old workplace has been really tardy about giving him his group certificate or something. Luckily his mum is an accountant, so she helped him write the necessary letters to the government.
Good luck!
Hey Bev..
So sorry to hear you feeling so sad.. I normally get a fully qualified accountant to do my tax for me.
The can make a difference and they’re tax deductible… I suggest that you withdraw (if possible) your claim and do it through an accountant. Either way, contact one anyway and ask his / her opinion. I’m confident that they can turn the whole thing around. And if they can’t for now, they can suggest what you should do this financial year.
My accountant’s name is Yuliana, her office is at Mascot and her phone number is 02 9669 5212 if you’re interested you’re more than welcome to call her…..
Good luck and let me know if I can help in any ways…..
I think I should get an accountant too.. it’s just too confusing. It was much easier when I was a student last year. Thanks HEAPS for the info though!! I’m going to call later today or tomorrow, hopefully she can help me out and isn’t too $$ 🙂
The only accounts I know are my parents, but they’re not familiar with Aussie tax 🙁 Isn’t it illegal not to give the group certificate back by 1 Sep or something?
I’m not exactly sure of the details, but I think something dodgy was going on and they’ve definitely passed the cut-off date. But the company was going belly-up long before James left … they’ve had a program in Beta for years now, and they’ve been laying people off, re-hiring them, laying them off again for months. =/
Good luck with your tax stuff. Sounds like a headache. =(
eek!
hehe.. i had to cough up over $700 last financial year.. cos i had 2 jobs & claimed $6k threshold for both.. eek.. anyhow, this year I’m not too sure how i did it, but I’m getting back some return! whoopee do! but the thing is have you paid for HECS? I think that’s what killed me, cos I had to pay nearly 1k for HECS last year.. but this year, parents paid quite a bit for me, so hehe that’s pretty good! Should get an accountant to do yours tho, they’ll find heaps of loopholes for you and you can claim their fees back next year!
Re: eek!
Ahh you’re so lucky.. I got about 30 bucks back last year, and actually stupidly thought I’d get a few hundred back this year. Guess not ;(
I was an international student so I paid for everything upfront, so no HECS.. thank goodness!
Have you tried having an accountant looking at it? They might be able to find some loopholes.
hmmm…..
loopholes is one thing, but the question is.. you’re not getting any returns? You have to pay more? Are you getting side-income along with your principal? If you have any reasonable investment interests, you’re best with an accountant. A good one 🙂 They might charge a fair amount, but if the claims can offset that then it’s all worth it
Re: hmmm…..
I actually thought I’d get some $$ back.. I have 1 job that I started in September so I thought I’d claim some back, but to be honest, I’m quite clueless about it all. But yeah, going to get an accountant.. gotta pay them but at least I’ll know I’m doing it right!
Yeah I think I’ll have to.. I don’t even really know how to do this, think I’m doing something severely wrong :X
You poor thing. =( Do you have any accountant friends that might be able to walk you through it? Maybe take them out for dinner/drinks in return – who can say no to a nice dinner? 😉
James hasn’t gotten his tax back because his old workplace has been really tardy about giving him his group certificate or something. Luckily his mum is an accountant, so she helped him write the necessary letters to the government.
Good luck!
Hey Bev..
So sorry to hear you feeling so sad.. I normally get a fully qualified accountant to do my tax for me.
The can make a difference and they’re tax deductible… I suggest that you withdraw (if possible) your claim and do it through an accountant. Either way, contact one anyway and ask his / her opinion. I’m confident that they can turn the whole thing around. And if they can’t for now, they can suggest what you should do this financial year.
My accountant’s name is Yuliana, her office is at Mascot and her phone number is 02 9669 5212 if you’re interested you’re more than welcome to call her…..
Good luck and let me know if I can help in any ways…..
I think I should get an accountant too.. it’s just too confusing. It was much easier when I was a student last year. Thanks HEAPS for the info though!! I’m going to call later today or tomorrow, hopefully she can help me out and isn’t too $$ 🙂
The only accounts I know are my parents, but they’re not familiar with Aussie tax 🙁 Isn’t it illegal not to give the group certificate back by 1 Sep or something?
I’m not exactly sure of the details, but I think something dodgy was going on and they’ve definitely passed the cut-off date. But the company was going belly-up long before James left … they’ve had a program in Beta for years now, and they’ve been laying people off, re-hiring them, laying them off again for months. =/
Good luck with your tax stuff. Sounds like a headache. =(
eek!
hehe.. i had to cough up over $700 last financial year.. cos i had 2 jobs & claimed $6k threshold for both.. eek.. anyhow, this year I’m not too sure how i did it, but I’m getting back some return! whoopee do! but the thing is have you paid for HECS? I think that’s what killed me, cos I had to pay nearly 1k for HECS last year.. but this year, parents paid quite a bit for me, so hehe that’s pretty good! Should get an accountant to do yours tho, they’ll find heaps of loopholes for you and you can claim their fees back next year!
Re: eek!
Ahh you’re so lucky.. I got about 30 bucks back last year, and actually stupidly thought I’d get a few hundred back this year. Guess not ;(
I was an international student so I paid for everything upfront, so no HECS.. thank goodness!
Have you tried having an accountant looking at it? They might be able to find some loopholes.
hmmm…..
loopholes is one thing, but the question is.. you’re not getting any returns? You have to pay more? Are you getting side-income along with your principal? If you have any reasonable investment interests, you’re best with an accountant. A good one 🙂 They might charge a fair amount, but if the claims can offset that then it’s all worth it
Re: hmmm…..
I actually thought I’d get some $$ back.. I have 1 job that I started in September so I thought I’d claim some back, but to be honest, I’m quite clueless about it all. But yeah, going to get an accountant.. gotta pay them but at least I’ll know I’m doing it right!
Yeah I think I’ll have to.. I don’t even really know how to do this, think I’m doing something severely wrong :X
Wow, that’s a TON of taxes… :O I’m not even sure what to say. Hmm. :T
tax
if i am not wrong i am guessing you get pretty well paid from your job which is more than a first year average wage for your degree. since you also so not need to pay HECS it’s alot easier. the best thing to to get an accountant and get her to explain what sorts of things you can claim on and you would be surprised. save all your documents, receipts etc and by the end of the next fiancial year what you pay and what you recieve will differ dramatically from this year.
it’s not brain surgery but you need to ask your accountant, most are too lazy to explain and most think you will be too lazy to do it plus it’s extra work for them BUT you will pay less overall.
Re: tax
Yeah.. I don’t have an accountant which is why it gets confusing. was trying not to get one so as not to spend more $$ but think I have to now ;(
Sucks hey.. I liked it when I was a student and got to CLAIM tax back 😉
Wow, that’s a TON of taxes… :O I’m not even sure what to say. Hmm. :T
tax
if i am not wrong i am guessing you get pretty well paid from your job which is more than a first year average wage for your degree. since you also so not need to pay HECS it’s alot easier. the best thing to to get an accountant and get her to explain what sorts of things you can claim on and you would be surprised. save all your documents, receipts etc and by the end of the next fiancial year what you pay and what you recieve will differ dramatically from this year.
it’s not brain surgery but you need to ask your accountant, most are too lazy to explain and most think you will be too lazy to do it plus it’s extra work for them BUT you will pay less overall.
Re: tax
Yeah.. I don’t have an accountant which is why it gets confusing. was trying not to get one so as not to spend more $$ but think I have to now ;(
Sucks hey.. I liked it when I was a student and got to CLAIM tax back 😉
I agree, it sucks to have to pay back a large amount. But if someone owes tax, it’s because it hasn’t already been taken out of your pay and you’ve effectively been paid more money than you should have been. Why is everyone so keen to find loopholes and not pay to the community what they owe?
Taxes pay to keep the nation, including *your* community, running. They pay for roads, education, hospitals, police, firefighting, the legal system, low income support, etc etc. I dont always agree with how much is spent where (e.g. defence), but they are an absolutely necessary part of life. If someone is earning a decent amount of money, then instead of trying to avoid paying what they owe to support the services that we *all* use, they should realise that they are not just taking ‘from the government’, they are unfairly taking from everyone else
Nothing wrong with using accountants to obtain fair, legal tax deductions – but there is something wrong with trying to find loopholes so that you dont need to pay what everyone else is paying.
Bev, this isnt an attack on you, by any means – as far as I know you havent tried to get your way out of it unfairly
I don’t think people mean “find loopholes” as in, “let’s do tax evasion”, since that’s a crime and all. It’s more like people think I’m filling in the fields wrongly, that’s why my tax is so shockingly high. I think I did too, because I noticed I did something wrong and when I fixed it, it tells me I owe $200 tax instead of $700+. I ***REALLY*** need to get an accountant to just look at it and make sure I’m doing it right and not paying the government just for the pure hell of it.
People mainly gripe at tax ‘cos it’s so utterly incredibly high here I s’pose. It’s double (!) what you’d pay in other countries.. so technically, you’d want everything to be twice as wonderful 😉
Basically just sucks if you more $$ than average.. better to only earn a little or be a student, which is what I really come to miss being when it comes to tax-paying time!
Actually in Australia we pay much *less* tax than lots of places – out of the 30 OECD countries, Australia is the 7th *lowest* average rate of personal income tax. This is all from the OECD tax database, I just looked it up! We even pay less than the US.
We definitely do pay more than non-OECD countries, which includes most of Asia, Eastern Europe, Africa and South America (ie, the huge majority of countries in the world) but a) we have much higher salaries, and b) it’s impossible to compare the standard of living in those countries to our standard in Australia (and especially all the amenities we take for granted, including good roads, free emergency health care, subsidised pharmaceuticals, public transport infrastructure, sanitation etc etc). We have those extra advantages because we pay for them!
And still better to earn a lot!!!!!!!!! 😉
Haha that makes sense.. I was comparing against Asian and E European countries, of which I know their tax brackets! I can’t believe that the top income bracket of some countries are up at 50% though! A bit painful :X
Hey, in Singapore the tax is flat rate of about 20-25% and the wage is the same (but senior positions get paid more, low/casual jobs pay jack all), and there’s cheaper public transport and sanitation, etc.. but I think that’s because it’s a small country.. kind of like trying to keep a small family in order and running smoothly against running a huge family. Really wish AU had lower tax though 🙁 I could do with all the extra k’s! I’m just in shock ‘cos last year I was a student and got $$ back, and this year it’s drastically different.
What services you prepared to give up?
I agree I would like to have more money in my pocket, but having said that what public services do you want to give up?
Low priced drugs, roads, Social Security, Law enforcement, hospitals, etc.
Don’t look at it as a tax but as a cost of living.
Molly
Re: What services you prepared to give up?
Oh, I’m not willing to give those up. I’m comparing to countries that have ALL those public services (ie. just as good or better/cheaper), yet have a LOWER tax rate for it’s residents.
Yes but…
You’re looking at the “average rate” of tax. If you examine the brackets and tax rates per bracket, you’ll find it quite different.
Here’s what David Uren said:
“People on high incomes in Australia pay an average of 33 per cent of their total income in tax, which is close to an OECD average that is skewed by the high tax rates paid in much of Europe.
In the US and Britain, high-income earners pay between 27 and 29 per cent of their income in tax.”
Although I, as much as anyone else recognise the need for social welfare, there is alot more to be desired. Australia seems to have this culture of supporting everyone and anyone, which isn’t a completely bad thing until someone (an opportunist?) sees advantage in it. I guess it’s near impossible to police all aspects of our welfare system, but I sincerely believe in tighening nooses. For sometime, Australia has suffered from a mild case of bracket creep (Until this year’s federal budget which attempts to address the problem). Also, take into consideration that tax on income is calculated and compared with OECD ex. other levies, GST, property/capital taxes and other misc taxes (Which Australia is ahead in). I guess what you have to account for is the average disposible income per household as an index of cost of living with CPI accountability. Might give a fairer view of how we’re doing.
But there’s an opinionated essay you didn’t want. Sorry 🙂
I agree, it sucks to have to pay back a large amount. But if someone owes tax, it’s because it hasn’t already been taken out of your pay and you’ve effectively been paid more money than you should have been. Why is everyone so keen to find loopholes and not pay to the community what they owe?
Taxes pay to keep the nation, including *your* community, running. They pay for roads, education, hospitals, police, firefighting, the legal system, low income support, etc etc. I dont always agree with how much is spent where (e.g. defence), but they are an absolutely necessary part of life. If someone is earning a decent amount of money, then instead of trying to avoid paying what they owe to support the services that we *all* use, they should realise that they are not just taking ‘from the government’, they are unfairly taking from everyone else
Nothing wrong with using accountants to obtain fair, legal tax deductions – but there is something wrong with trying to find loopholes so that you dont need to pay what everyone else is paying.
Bev, this isnt an attack on you, by any means – as far as I know you havent tried to get your way out of it unfairly
I don’t think people mean “find loopholes” as in, “let’s do tax evasion”, since that’s a crime and all. It’s more like people think I’m filling in the fields wrongly, that’s why my tax is so shockingly high. I think I did too, because I noticed I did something wrong and when I fixed it, it tells me I owe $200 tax instead of $700+. I ***REALLY*** need to get an accountant to just look at it and make sure I’m doing it right and not paying the government just for the pure hell of it.
People mainly gripe at tax ‘cos it’s so utterly incredibly high here I s’pose. It’s double (!) what you’d pay in other countries.. so technically, you’d want everything to be twice as wonderful 😉
Basically just sucks if you more $$ than average.. better to only earn a little or be a student, which is what I really come to miss being when it comes to tax-paying time!
Actually in Australia we pay much *less* tax than lots of places – out of the 30 OECD countries, Australia is the 7th *lowest* average rate of personal income tax. This is all from the OECD tax database, I just looked it up! We even pay less than the US.
We definitely do pay more than non-OECD countries, which includes most of Asia, Eastern Europe, Africa and South America (ie, the huge majority of countries in the world) but a) we have much higher salaries, and b) it’s impossible to compare the standard of living in those countries to our standard in Australia (and especially all the amenities we take for granted, including good roads, free emergency health care, subsidised pharmaceuticals, public transport infrastructure, sanitation etc etc). We have those extra advantages because we pay for them!
And still better to earn a lot!!!!!!!!! 😉
Haha that makes sense.. I was comparing against Asian and E European countries, of which I know their tax brackets! I can’t believe that the top income bracket of some countries are up at 50% though! A bit painful :X
Hey, in Singapore the tax is flat rate of about 20-25% and the wage is the same (but senior positions get paid more, low/casual jobs pay jack all), and there’s cheaper public transport and sanitation, etc.. but I think that’s because it’s a small country.. kind of like trying to keep a small family in order and running smoothly against running a huge family. Really wish AU had lower tax though 🙁 I could do with all the extra k’s! I’m just in shock ‘cos last year I was a student and got $$ back, and this year it’s drastically different.
What services you prepared to give up?
I agree I would like to have more money in my pocket, but having said that what public services do you want to give up?
Low priced drugs, roads, Social Security, Law enforcement, hospitals, etc.
Don’t look at it as a tax but as a cost of living.
Molly
Re: What services you prepared to give up?
Oh, I’m not willing to give those up. I’m comparing to countries that have ALL those public services (ie. just as good or better/cheaper), yet have a LOWER tax rate for it’s residents.
Yes but…
You’re looking at the “average rate” of tax. If you examine the brackets and tax rates per bracket, you’ll find it quite different.
Here’s what David Uren said:
“People on high incomes in Australia pay an average of 33 per cent of their total income in tax, which is close to an OECD average that is skewed by the high tax rates paid in much of Europe.
In the US and Britain, high-income earners pay between 27 and 29 per cent of their income in tax.”
Although I, as much as anyone else recognise the need for social welfare, there is alot more to be desired. Australia seems to have this culture of supporting everyone and anyone, which isn’t a completely bad thing until someone (an opportunist?) sees advantage in it. I guess it’s near impossible to police all aspects of our welfare system, but I sincerely believe in tighening nooses. For sometime, Australia has suffered from a mild case of bracket creep (Until this year’s federal budget which attempts to address the problem). Also, take into consideration that tax on income is calculated and compared with OECD ex. other levies, GST, property/capital taxes and other misc taxes (Which Australia is ahead in). I guess what you have to account for is the average disposible income per household as an index of cost of living with CPI accountability. Might give a fairer view of how we’re doing.
But there’s an opinionated essay you didn’t want. Sorry 🙂
You poor thing. =( Do you have any accountant friends that might be able to walk you through it? Maybe take them out for dinner/drinks in return – who can say no to a nice dinner? 😉
James hasn’t gotten his tax back because his old workplace has been really tardy about giving him his group certificate or something. Luckily his mum is an accountant, so she helped him write the necessary letters to the government.
Good luck!
Hey Bev..
So sorry to hear you feeling so sad.. I normally get a fully qualified accountant to do my tax for me.
The can make a difference and they’re tax deductible… I suggest that you withdraw (if possible) your claim and do it through an accountant. Either way, contact one anyway and ask his / her opinion. I’m confident that they can turn the whole thing around. And if they can’t for now, they can suggest what you should do this financial year.
My accountant’s name is Yuliana, her office is at Mascot and her phone number is 02 9669 5212 if you’re interested you’re more than welcome to call her…..
Good luck and let me know if I can help in any ways…..
I think I should get an accountant too.. it’s just too confusing. It was much easier when I was a student last year. Thanks HEAPS for the info though!! I’m going to call later today or tomorrow, hopefully she can help me out and isn’t too $$ 🙂
The only accounts I know are my parents, but they’re not familiar with Aussie tax 🙁 Isn’t it illegal not to give the group certificate back by 1 Sep or something?
I’m not exactly sure of the details, but I think something dodgy was going on and they’ve definitely passed the cut-off date. But the company was going belly-up long before James left … they’ve had a program in Beta for years now, and they’ve been laying people off, re-hiring them, laying them off again for months. =/
Good luck with your tax stuff. Sounds like a headache. =(
eek!
hehe.. i had to cough up over $700 last financial year.. cos i had 2 jobs & claimed $6k threshold for both.. eek.. anyhow, this year I’m not too sure how i did it, but I’m getting back some return! whoopee do! but the thing is have you paid for HECS? I think that’s what killed me, cos I had to pay nearly 1k for HECS last year.. but this year, parents paid quite a bit for me, so hehe that’s pretty good! Should get an accountant to do yours tho, they’ll find heaps of loopholes for you and you can claim their fees back next year!
Re: eek!
Ahh you’re so lucky.. I got about 30 bucks back last year, and actually stupidly thought I’d get a few hundred back this year. Guess not ;(
I was an international student so I paid for everything upfront, so no HECS.. thank goodness!
Have you tried having an accountant looking at it? They might be able to find some loopholes.
hmmm…..
loopholes is one thing, but the question is.. you’re not getting any returns? You have to pay more? Are you getting side-income along with your principal? If you have any reasonable investment interests, you’re best with an accountant. A good one 🙂 They might charge a fair amount, but if the claims can offset that then it’s all worth it
Re: hmmm…..
I actually thought I’d get some $$ back.. I have 1 job that I started in September so I thought I’d claim some back, but to be honest, I’m quite clueless about it all. But yeah, going to get an accountant.. gotta pay them but at least I’ll know I’m doing it right!
Yeah I think I’ll have to.. I don’t even really know how to do this, think I’m doing something severely wrong :X
You poor thing. =( Do you have any accountant friends that might be able to walk you through it? Maybe take them out for dinner/drinks in return – who can say no to a nice dinner? 😉
James hasn’t gotten his tax back because his old workplace has been really tardy about giving him his group certificate or something. Luckily his mum is an accountant, so she helped him write the necessary letters to the government.
Good luck!
Hey Bev..
So sorry to hear you feeling so sad.. I normally get a fully qualified accountant to do my tax for me.
The can make a difference and they’re tax deductible… I suggest that you withdraw (if possible) your claim and do it through an accountant. Either way, contact one anyway and ask his / her opinion. I’m confident that they can turn the whole thing around. And if they can’t for now, they can suggest what you should do this financial year.
My accountant’s name is Yuliana, her office is at Mascot and her phone number is 02 9669 5212 if you’re interested you’re more than welcome to call her…..
Good luck and let me know if I can help in any ways…..
I think I should get an accountant too.. it’s just too confusing. It was much easier when I was a student last year. Thanks HEAPS for the info though!! I’m going to call later today or tomorrow, hopefully she can help me out and isn’t too $$ 🙂
The only accounts I know are my parents, but they’re not familiar with Aussie tax 🙁 Isn’t it illegal not to give the group certificate back by 1 Sep or something?
I’m not exactly sure of the details, but I think something dodgy was going on and they’ve definitely passed the cut-off date. But the company was going belly-up long before James left … they’ve had a program in Beta for years now, and they’ve been laying people off, re-hiring them, laying them off again for months. =/
Good luck with your tax stuff. Sounds like a headache. =(
eek!
hehe.. i had to cough up over $700 last financial year.. cos i had 2 jobs & claimed $6k threshold for both.. eek.. anyhow, this year I’m not too sure how i did it, but I’m getting back some return! whoopee do! but the thing is have you paid for HECS? I think that’s what killed me, cos I had to pay nearly 1k for HECS last year.. but this year, parents paid quite a bit for me, so hehe that’s pretty good! Should get an accountant to do yours tho, they’ll find heaps of loopholes for you and you can claim their fees back next year!
Re: eek!
Ahh you’re so lucky.. I got about 30 bucks back last year, and actually stupidly thought I’d get a few hundred back this year. Guess not ;(
I was an international student so I paid for everything upfront, so no HECS.. thank goodness!
Have you tried having an accountant looking at it? They might be able to find some loopholes.
hmmm…..
loopholes is one thing, but the question is.. you’re not getting any returns? You have to pay more? Are you getting side-income along with your principal? If you have any reasonable investment interests, you’re best with an accountant. A good one 🙂 They might charge a fair amount, but if the claims can offset that then it’s all worth it
Re: hmmm…..
I actually thought I’d get some $$ back.. I have 1 job that I started in September so I thought I’d claim some back, but to be honest, I’m quite clueless about it all. But yeah, going to get an accountant.. gotta pay them but at least I’ll know I’m doing it right!
Yeah I think I’ll have to.. I don’t even really know how to do this, think I’m doing something severely wrong :X
Wow, that’s a TON of taxes… :O I’m not even sure what to say. Hmm. :T
tax
if i am not wrong i am guessing you get pretty well paid from your job which is more than a first year average wage for your degree. since you also so not need to pay HECS it’s alot easier. the best thing to to get an accountant and get her to explain what sorts of things you can claim on and you would be surprised. save all your documents, receipts etc and by the end of the next fiancial year what you pay and what you recieve will differ dramatically from this year.
it’s not brain surgery but you need to ask your accountant, most are too lazy to explain and most think you will be too lazy to do it plus it’s extra work for them BUT you will pay less overall.
Re: tax
Yeah.. I don’t have an accountant which is why it gets confusing. was trying not to get one so as not to spend more $$ but think I have to now ;(
Sucks hey.. I liked it when I was a student and got to CLAIM tax back 😉
Wow, that’s a TON of taxes… :O I’m not even sure what to say. Hmm. :T
tax
if i am not wrong i am guessing you get pretty well paid from your job which is more than a first year average wage for your degree. since you also so not need to pay HECS it’s alot easier. the best thing to to get an accountant and get her to explain what sorts of things you can claim on and you would be surprised. save all your documents, receipts etc and by the end of the next fiancial year what you pay and what you recieve will differ dramatically from this year.
it’s not brain surgery but you need to ask your accountant, most are too lazy to explain and most think you will be too lazy to do it plus it’s extra work for them BUT you will pay less overall.
Re: tax
Yeah.. I don’t have an accountant which is why it gets confusing. was trying not to get one so as not to spend more $$ but think I have to now ;(
Sucks hey.. I liked it when I was a student and got to CLAIM tax back 😉