As we approach tax time, I think it would be appropriate to start looking at the claims an average Australian salary earner could possibly make.
I've only started working full-time just under a year ago so this would be my first tax return to complete.
I want to know what the big ticket items I can make a claim for as a office clerk.
In the following years' return.
Additional information.
Can I claim fees paid to my tax agent?
Fees paid to a registered tax agent for preparation of your return, amendments and generally handling your tax matters are all deductible. You can also claim travel to your registered tax agent (you are limited per income tax return to 5,000km in total across the entire return if claiming the c/km method). Registered tax agents are the only people legally able to receive payment for the preparation of tax returns.
There are no big ticket items no matter where you go… just do DIY. It's not that hard.
I used to pay ~$300 for normal tax returns with accountant. They normally do okay job one year but always give it to grads or jnr accountants the following year and I am pretty sure they know even less tax than I am.
I have had a tax guy for over a decade and his work is very useful. He keeps up on changes year to year, and is happy to answer emails throughout the year about things. Definitely worth it for me, but you need to find the right person.
I am an accountant and if you are just a wage earner you can go onto the ATO website and check what you can claim. Alternatively go to a Tax Agent the first year and then see what they claim & do it yourself after that. If your tax affairs get complicated its better to use a Tax Agent. Yes the grads do the basic work sometimes but we check everything they do.
I've always done it myself using etax (including stuff like franking credits etc.) but this year I sold a bunch of shares and purchased a home. I'm a bit worried I'll miss out on stuff though.
On the other hand, I'm a lawyer so I should be able to work it out.
On the other other hand, I nearly failed tax law at uni.
Should I just go to a tax agent?
I am just trying to figure out how many hands you have.
He is a lawyer, so you know where lawyers' hands are.
From a NTAA event on Tuesday. What happens when you give a lawyer Viagra? They get taller.
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There are some handy guides on the ATO website on deductions allowed per profession.
Ah, I see what you did there. Handy indeed.
Do you do internet banking at home? Share trading? Well you're entitled to a portion of internet, device deduction, electricity. Anything related to making income.
And $99 in donations without receipts
you'd be pretty low to claim that if you haven't donated
i didn't say that
It is. Guys being a fool. Message me any questions you may have I'm an accountant, happy to help out around here.
ROFL. if you don't know about the under $100 rule for donations, you can't claim to be an accountant
You sir are an idiot. Even NTAA brought up the maximum $10 donation again on their seminars. Oh no but its $99 without receipts and even NTAA are wrong. GTFO fool hope your not an accountant and meeting your ethics and integrity codes, guys like you that really shit me.
has anyone looked into salary packaging to pay lower tax in the first place may be its too late for 2013..but at least can start packaging for 2014 financial year
I'm doing an associate lease for our car…leasing it off my wife. Works out well for us.
Salary packaging is good but make sure you are not getting ripped off on the deal. A lot of terrible interest rates are dressed up in novated leases where the tax deduction doesn't even cover the difference between the interest rates being charged and a fair (good) interest rate. My mother in law was offered a lease with an interest rate of around 24% (conveniently not advertised), as compared to market rates available at around 10-12% at the time.
Can anyone recommend a good tex accountant to go to(HR block etc)? I've been doing my own for the past 2 years since I started working full time but am worried that I'd missed out on potential tax deductions.
I started doing my own taxes about 7 years ago because the accountant was too strict … at least the ATO now have to work hard for my tax dollars :)
you can claim going to an accoutant to do your tax.