Tax Time

[alesha]

Is it wrong to drop a bag of receipts on your accountant's desk, and say, 'see ya....give me a call when you're done' ? :lol:

I don't think it wrong, if thats what they are paid for.

Our Tax man is fantastic. We see the same one every year, he does all the work for $80.00 each, well worth it i reckon.

 

[bigi]

i hate it, not the paperwork thats straight forward, all i do is sign and date, but every year i end up having to pay. As if they dont get enough off me during the year, even when i do pay my tax in advance (PAYG) before ive earned anything, Go figure

 

[Surfcop24]

Yeah.....I like tax time... I always have got a refund... So thats gotta be a good thing

 

[toximac]

Tax is kinda like giving birth I reckon, its hard getting it done, but once its done, the reward is good.. *drinks sunkist* .. anyway lol I don't know how to do tax returns I just get my mums agent to do it for me.. I think I'll do a cert IV in accounting @ tafe some day lol.. but not now, maybe after 2012 lol

 

[the jungle guy]

Tax is kinda like giving birth I reckon, its hard getting it done, but once its done, the reward is good.. *drinks sunkist* .. anyway lol I don't know how to do tax returns I just get my mums agent to do it for me.. I think I'll do a cert IV in accounting @ tafe some day lol.. but not now, maybe after 2012 lol

hahaha thats funny

 

[XKiller]

I pay a load of tax throught the year than i have to pay more at tax time, everything i buy is taxed someone's obvously taking a piece..
so there's nothing new for me...

 

[JAS101]

hurry up with my tax return , i want to spend it on snakes and rats

 

[Daniel_Penrith]

Tax time is the best except for 2yrs ago when i had to fork out $500!!!

I have been renting my house out for the past 6 months, how does that work with tax and what can i claim?

 

[Snowman]

It will suck if they take away tax returns... It's like a compulsory savings.. Though I'd rather no tax and then I could replace the millenium falcon.

 

[Colin]

Is it wrong to drop a bag of receipts on your accountant's desk, and say, 'see ya....give me a call when you're done' ? :lol:

yes! Its very wrong..
that will only get you a small refund and a very large tax bill from your hardworking accountant

 

[shellfisch]

yes! Its very wrong..
that will only get you a small refund and a very large tax bill from your hardworking accountant

I have NEVER done it....I just want to.....:lol:

That's why I hate tax time...cos I list every single thing, and what it was for.

You know that ad where the guy is walking around covered in receipts and hasn't got a clue?
Yep, that's me :lol:

 

[peterjohnson64]

I love tax time but only when I have to pay lots of tax. Colin can tell you why.

 

[bigi]

Tax time is the best except for 2yrs ago when i had to fork out $500!!!

I have been renting my house out for the past 6 months, how does that work with tax and what can i claim?

yeh mate, you can claim the rent, power, gas, and even your time for cleaning and mowing, dont forget to keep all your hours and reciepts , i am sure they will audit you after the claim, lol

 

[bigi]

I love tax time but only when I have to pay lots of tax. Colin can tell you why.

you only pay tax if your work for yourself or recieve income from other means.

If you pay lots of tax in the year, then you have earned plenty. Simple really, i hope this year is a bumper tax payment for you Pete, funny as it sounds

 

[Colin]

yeh mate, you can claim the rent, power, gas, and even your time for cleaning and mowing, dont forget to keep all your hours and reciepts , i am sure they will audit you after the claim, lol

If daniel was renting out his house to tenants then the rent received is income not a claimable deduction..
http://www.ato.gov.au/content/downloads/IND00237831N17290610.pdf
see page 4

Rental and other rental-related income is the full amount of rent and associated payments that you receive, or become entitled to, when you rent out your property – whether it is paid to you or your agent. You must include your share of the full amount of rent you earn in your tax return.

 

[Magpie]

Yes, I love that the government takes our money, keeps it for a year then gives some of it back, after I have to write to them and ask for it, even though they have the computerised records showing that they should not have taken the money in the first place. Oh, and they get to keep the interest too.
Bring on a single tier, user pays, no deductions tax system and I'll vote for you, even if it was Labor.

 

[Jonno from ERD]

I once read an article on a single, flat rate tax on everything. No deductions etc. The way it was explained, it seemed very foolproof and simple. The tax system in Australia a bureaucrats dream.