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#1 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 2,199
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So with my current job I have a lack of time to go to an accountant so Am considering an online accountant where you enter your details then someone calls you to make sure that you maximise the return, and the small fee of $79. has anyone used one before?
My tax return is very simple with no investments etc just the basic few things to claim, so is it worth it?
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#2 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
If yours is simple with minimal deductions , why not download ETAX off the ATO website and do it yourself. Most things in the return are auto fill from data the ATO has about you anyway (like your earnings, bank interest, etc) and it guides you through each step regarding deductions you can claim and tax offsets (rebates) , so it's very simple to use...save youself $79 and keep it in your own pocket
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#3 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 2,199
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I looked at it and it came up with that I owe almost a grand so I'm hoping I did something wrong and wanted someone to have a second look, I checked on the ato site for how much tax I should have paid and it was fairly easy as I almost earned exactly 80 thou and from what it says I should have paid I had paid about 2000 over, or should I just send it off with saying what I have to pay money and they will fix it on their end?
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#4 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
When you checked the ATO site, and it said that you paid $2,000 over what you should've paid, did you take into account the medicare levy of 1.5%? On $80,000 you need to have paid $18,750 in tax (incl medicare levy) to avoid paying the ATO any more money. For every dollar you can claim as a tax deduction, you get 30 cents back in tax.
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#5 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 2,199
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[/LIST]Ah... Does the site not include that (Medicare levy)? Is there an age that you pay that simular to how the health insurance works or is it across the board? Did you find a calculator that worked that out? I surfed the website for ages but couldn't find one that seemed to come up with the right tax return... And I know sounds stupid but there is heaps of calculators
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#6 | ||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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The rates for 2011/12 were as follows
income up to $6,000 - NIL $6,001 to $37,000 - 15% = $4,649.85 $37,001 to $80,000 - 30% = $12,899.70 Medicare levy = $80,000 x 1.5% = $1,200 so $4,649.85 + $12,899.70 + $1,200 = $18,749.55 Because your income was over $77k you will also pay the medicare levy surchage of 1% ($800 on top of the $1,200 above) if you were single wiuth no dependant children and did not have private health insurance
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#7 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 2,199
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So as I don't have health insurance the total amount I have to pay is $19549.55?
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#8 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
Yep thats right , unless you have any deductions you can claim, remembering that your tax comes down by 30 cents for every $1 you can claim as a deduction. Ideally if you could get your taxable income down to below $77k by having legitimate tax deductions, you'd avoid that additional medicare levy surcharge of $800.
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, Last edited by GT0132; 30-07-2012 at 10:02 PM. |
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#9 | |||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 2,199
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Quote:
Thanks for your help and advice really appreciate it, if I every run into you at something remind you I owe ya a beer, or if it's a cruise a coffee
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#10 | |||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 2,199
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Quote:
Thanks for your help and advice really appreciate it, if I every run into you at something remind you I owe ya a beer, or if it's a cruise a coffee ![]()
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#11 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
No worries mate/....happy to have helped you
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#12 | |||
Lyminge, Shepway, Kent
![]() ![]() Join Date: Oct 2008
Location: Geelong - Go Cats
Posts: 3,197
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#13 | ||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,568
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Good advice above..ive been using ETAX for years and its awesome if your situation is not overly complicated.
PREFILL is a nice features, saves heaps of time.
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