Dedrei Posted July 11, 2007 Report Share Posted July 11, 2007 Hi GuysThought I'd start ths thread as it is Tax time again, well in Australia that is. You should receive your payment summaries (IRP5's) from your employer by 14 July.First and very important TIPIf you are here on a 457 visa, please download this form here and complete it and sent it off BEFORE you do your tax. This is the Medicare Levy exemption form, which you can also find from the list here This will save you some bucks as everyone pays a 1% medicare levy on their taxable income and you have an exemption available to you because your are on 457 and not entitled to medicare benefits. If you have lodged your PR in the mean time, you are only exempt up to the date of lodgement. Eg. If you came to aus on 01 Nov 2006 and submitted PR on 01/03/2007. You can claim exemption for the period 01/11/06 - 01/03/07. Please remember the exemption refers to the period 01/07/2006 - 30/06/2007. Second Tip Download the ETax2007 program from hereThis is a very easy program and guides you through a whole interview process to make sure you declare and claim everything you can. Third TipMake sure you complete your bank details, you will then get your refund around 2 weeks from lodging your tax return.If you have any general questions regarding your tax, please feel free to ask via PM or here. I'll be glad to be of assistance. More complicated questions would be best answered by speaking to your tax accountant personally.CheersDedrei Quote Link to comment Share on other sites More sharing options...
Joeemm Posted July 11, 2007 Report Share Posted July 11, 2007 Hi DedreiThanks a lot for htis, exactly what I was looking for.Joseph Quote Link to comment Share on other sites More sharing options...
Johan Swanepoel Posted July 11, 2007 Report Share Posted July 11, 2007 Thank you very much. This is great!RegardsJohan Quote Link to comment Share on other sites More sharing options...
Nilo Posted July 11, 2007 Report Share Posted July 11, 2007 Hi DedreiThank you so much for this. One Question, would it be better to go to a acountant or would we be able to and or know what to claim when we do it on the net?LoviesNilo Quote Link to comment Share on other sites More sharing options...
Dedrei Posted July 11, 2007 Author Report Share Posted July 11, 2007 Hi NiloIf yours is fairly simple, I'd go with the Etax program. It will ask you questions right through so it will cover everything. It might be a lot to go through, but it covers everything.If you don't have the time or want to make sure you are claiming everything you can or if yours is a bit more complex than the next person, by all means go to an accountant. But as I said, if you have a simple tax return then go with Etax.CheersDedrei Quote Link to comment Share on other sites More sharing options...
Johan Swanepoel Posted August 7, 2007 Report Share Posted August 7, 2007 Hi, thanks for the tip. eTax worked great.Our tax for this year was fairly simple. We submitted it last week Monday and today 8 days later, the tax-man payed me some money RegardsJohan Swanepoel Quote Link to comment Share on other sites More sharing options...
Nilo Posted August 7, 2007 Report Share Posted August 7, 2007 Hi Johan Selfde hier, binne 8 dae, toe so surprise in ons bank rekening. Not to shabby hey Nige!!!Dankie Dedrei vir die tip!!! Quote Link to comment Share on other sites More sharing options...
LeeInOz Posted August 7, 2007 Report Share Posted August 7, 2007 Dedrei is right about this one.When we arrived I used etax in 2005 and worked out we had a refund of $500 or so but doing it on the form we should have got a lot more. So we went to an accountant. (they advertise a lot around this time of year. There I was told we had done eTax correctly but they send you your Centrelink payment for children automatically after your tax return has been assesed.Since then we do the eTax. Will submit our soonThe accountants fee is deductable from your pretax earnings but is a waste if you have simple matters to attend to Quote Link to comment Share on other sites More sharing options...
SpitFire Posted August 14, 2007 Report Share Posted August 14, 2007 This is something I'm very stupid with, as I worked through a tax broker in SA as a contractor.Now I don't have a clue what I can claim for, what I get subsidised for etc etc. I AM a contractor, and I'm assuming that as a contractor you get some tax benefits, but I pay like....35% tax???Does anyone have any more info on this?? Quote Link to comment Share on other sites More sharing options...
alanb Posted August 15, 2007 Report Share Posted August 15, 2007 (edited) Does anyone know whether your hospital cover is tax deductable on a 457 visa? I have heard that it is not from a non-expert source and I have not checked this with an accountant yet.ThanksAlan Edited August 15, 2007 by alanb Quote Link to comment Share on other sites More sharing options...
Dedrei Posted August 15, 2007 Author Report Share Posted August 15, 2007 Hi AlanUnfortunately your hospital cover is not deductible. Even though you are on a 457 visa you are seen as a resident for tax purposes.Only claim you have for medical is, if you have medical expenses above $1500. You get 20% rebate of the amount over and above $1500.Spitfire, I suggest you download the E-tax program. It goes through an interview process and answer each question. In Australia you can claim more back as in SA. What kind of contractor are you?CheersCheersDedrei Quote Link to comment Share on other sites More sharing options...
DesertDaisy Posted August 16, 2007 Report Share Posted August 16, 2007 Very helpful thanks! Quote Link to comment Share on other sites More sharing options...
SpitFire Posted August 20, 2007 Report Share Posted August 20, 2007 Dedrei...I'm a broke contractor I work through an agency and am a concultant at Telstra Projects, and need to figure out how I can save on tax on a month to month basis! I'll check out the E-Tax pack, is that just for your tax return, or just tax in general? Quote Link to comment Share on other sites More sharing options...
Sulona Posted August 20, 2007 Report Share Posted August 20, 2007 Thanks Dedrei, you safed me from searching for a tax consultant. One thing thing less to do today.Sulona Quote Link to comment Share on other sites More sharing options...
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