TAX TIME

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TAX TIME

Postby BLCKED » July 14th, 2008, 11:33 pm

I love tax time

my estiamte was $1898 one of my biggest yet

think im going to get that 3000 stall i have allways wanted :D
70mm t/b and maf, extractors and exhaust, 2500 stall, stage 2 shift kit, ultra lows, pioneer/clarion stereo.

soon to be 347...
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Re: TAX TIME

Postby Frost » July 14th, 2008, 11:43 pm

BLCKED wrote:I love tax time

my estiamte was $1898 one of my biggest yet

think im going to get that 3000 stall i have allways wanted :D



pfft nuttin like mine. over 4g a yr. I also dont select the tax free threshold. Complsuary saving then, use it to pay off whats oweing on the creditcard then invest the rest. usually in my car lol
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Re: TAX TIME

Postby Bomber » July 14th, 2008, 11:49 pm

Yeah im getting just over 4k back too :D
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Re: TAX TIME

Postby slo_sprint » July 14th, 2008, 11:52 pm

it'll be around the $1k mark, which will quickly be distributed between the car and a couple of nights worth of drinks.
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Re: TAX TIME

Postby EF ECTIV » July 15th, 2008, 1:52 am

ended up getting about $1500.... thank you commonwealth government for my new rims :lol:
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Re: TAX TIME

Postby wolf » July 15th, 2008, 6:45 am

hahaha well i have to pay 3grand according to the etax program :roll: :roll:

hopefully the new accountant can fix that though.
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Re: TAX TIME

Postby LTDHO » July 15th, 2008, 7:40 am

How the fu(k do you get over $1k back?
I'd be stoked to get $3k!
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Re: TAX TIME

Postby Commando » July 15th, 2008, 8:22 am

LTDHO wrote:How the fu(k do you get over $1k back?
I'd be stoked to get $3k!


same! :shock:
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Re: TAX TIME

Postby Dansedgli » July 15th, 2008, 8:29 am

It doesnt count if the ATO wants it back in 3 years!!
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Re: TAX TIME

Postby Steady » July 15th, 2008, 8:32 am

Dansedgli wrote:It doesnt count if the ATO wants it back in 3 years!!

True indeed.
Although what these people who are getting massive amounts back aren't telling us is that they were unemployed for half the year :lol:

Accountant hasn't done mine yet, I predict about 800 bucks like it normally is.
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Re: TAX TIME

Postby Schmee » July 15th, 2008, 8:49 am

It does depend on what you can deduct over the year in expenses etc

I claim 5000kms in my car each year even though I do a lot more kms than that, Im too lazy to keep a log book for the whole year... once I reach the required kms thats it

Because of the various trades Im employed in tools are a big deduction for me
citylink tolls, mobile phone, union fees, additional courses/training, clohthing and laundry, work boots etc etc etc

It all adds up and can make a big difference to what you get back

creative accounting goes a long way in todays society

I usually do pretty good....:) :) :)
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Re: TAX TIME

Postby Kyle the ED4LTR » July 15th, 2008, 8:56 am

well it will be my first time so i dunno what i'll get, hopefully enough for custom plates :P
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Re: TAX TIME

Postby holmsy » July 15th, 2008, 9:19 am

i get back a nice set of 19's :D
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Re: TAX TIME

Postby SLY347 » July 15th, 2008, 9:33 am

$1900 back here
1k towards getting the set of 18x8.5 and 18x9.5 Starcorp Impuls.
900 Savings
Bonnet, Front Bar, Front quarter panels CHEAP!
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Re: TAX TIME

Postby ragga_ed » July 15th, 2008, 10:42 am

im going to see the tax man tonight, i workerd 7 months and got taxed about 5k, so im hoping for at least 3k bak
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Re: TAX TIME

Postby LTDHO » July 15th, 2008, 12:32 pm

Schmee wrote:It does depend on what you can deduct over the year in expenses etc

I claim 5000kms in my car each year even though I do a lot more kms than that, Im too lazy to keep a log book for the whole year... once I reach the required kms thats it

Because of the various trades Im employed in tools are a big deduction for me
citylink tolls, mobile phone, union fees, additional courses/training, clohthing and laundry, work boots etc etc etc

It all adds up and can make a big difference to what you get back

creative accounting goes a long way in todays society

I usually do pretty good....:) :) :)

How much of that is without proof?
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Re: TAX TIME

Postby Schmee » July 15th, 2008, 12:47 pm

there is a certain amount you dont need receipts for as in laundry/clothing/boots and others I cant remember it all off the top of my head

Depends a lot on you job as to what you can actually claim

union dues, city link, mobile phone and tool purchases/replacement must be invoiced

the 5000kms has to be documented ie: a diary with daily kms totalling 5000kms or more

have a good talk to your accountant as to what you can and cant claim as most of the time they wont advise you until you ask the question

if you just take in a pile of receipts/invoices thats all they do, ask and ye may receive...:)
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Re: TAX TIME

Postby Kyle the ED4LTR » July 15th, 2008, 1:13 pm

yeh my dad does that KM's stuff with his car
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Re: TAX TIME

Postby Stengord » July 15th, 2008, 5:17 pm

Getting $999

Probably just put it away and see what comes up
most likely gonna end up on blow and hookers
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Re: TAX TIME

Postby Frost » July 15th, 2008, 5:39 pm

Im "Self Employeed" so I over pay tax ususally just so I can get some back at the end of the year, better complusary savings. Will be interesting this year thou, cause I didnt drive my car as much well, fark all acutally.

But I did by a 4g laptop, went and did 3000 of courses and 4 business trips to "perth" cough cough.
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Re: TAX TIME

Postby AaronEF8 » July 15th, 2008, 5:51 pm

You can claim $300 of dry cleaning and work clothing without a receipt, I noticed eTax fills it in automatically for you. That will get you $45 back if you've earnt under 30k, $90 if you earn 30-75k.

I claimed work km's this year, I have a log book of how many km's I've done and where I went. If you use eTax, there are details on what you can claim on work use for your car in the help section.

Heads/manifold/injectors/MAF and seats here I come :P
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Re: TAX TIME

Postby MY92ED » July 15th, 2008, 6:17 pm

My brother did mine with a bit of creative accounting and im hoping to get around the $1800 mark. Rims here I come :D
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Re: TAX TIME

Postby AussieHoon » July 15th, 2008, 6:27 pm

Seeing as I don't have a job, I don't pay tax, might see if I can get some cash from dad, though.
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Re: TAX TIME

Postby private9 » July 15th, 2008, 9:14 pm

We're expecting several thou shortly, however as we've just been ripped to the tune of 10-20k for a botched reno which then required another 15k to re-do, I won't be getting any pressies any time soon!
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Re: TAX TIME

Postby ragga_ed » July 15th, 2008, 10:18 pm

went to see the tax man tonight, im getting bak $2100............... cant complain
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Re: TAX TIME

Postby smokin ef » July 16th, 2008, 10:11 am

i scored $1500, mmmmmmmmmm i can smell the new leater now :mrgreen:
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Re: TAX TIME

Postby Kenaz » July 16th, 2008, 7:55 pm

Still waiting to get my group certificate from my current work :x

Hopefully I get a decent return :)
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Re: TAX TIME

Postby Frost » July 16th, 2008, 9:12 pm

I have to pay $36 dollars haha
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Re: TAX TIME

Postby BLCKED » July 16th, 2008, 10:08 pm

my brother is self employed frost

he claims soo much stuff and its perfectly leagel. i love it.

cant wait till i sub contract as an installer, pay extra tax and yeah u get it back at tax time its great.
70mm t/b and maf, extractors and exhaust, 2500 stall, stage 2 shift kit, ultra lows, pioneer/clarion stereo.

soon to be 347...
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Re: TAX TIME

Postby Frost » July 16th, 2008, 10:27 pm

yeah i farked up, i put my laptop in under this finanical year :(

Considering I havnt paid any PayG payments since October last year, im doing ok i guess haha.
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Re: TAX TIME

Postby 91eb40 » July 17th, 2008, 12:17 am

abcisfun wrote:most likely gonna end up on blow and hookers


+1

For me it's credit card repayment! Unless I pay it off earlier which at that point I'll pay off other debts...

..and if I have none - start getting money together for a turbo. Or petrol.
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