End of Financial Year (EOFY)

Nadine · July 2013

Plan ko din punta accountant lalo first time ko pa to. But I'm still waiting for my medicare levy exemption. Matagal pala yun??

Anyway, excited nako makakuha ng first tax return. 8->

hanzyboy · July 2013

for those na first time magapply ng tax return, may nakapagtry na ba gumamit nung e-tax? pwede ba natin gamitin to?

TasBurrfoot · July 2013

for those na first time magapply ng tax return, may nakapagtry na ba gumamit nung e-tax? pwede ba natin gamitin to?

Ehehehe... Diyan ka mismo mag-file ng income tax return mo!

Summer_set · July 2013

@tharty
Yun bang sinasabi mo na nilagay mo na non-resident is yung sa TFN? Kakastart ko lang din ng end may, so ang laki din ng tax ko, kaya di ko sure kung paano yun gagawin. san ba makakakuha ng tax file declaration form? kukuha ka ba ng accountant? Kasi ako di ko sure kung kukuha kasi wala din ako idea how to claim na ako lang. thanks!

Metaform · July 2013

Hi guys. So far, mga 5% lang ng knowledge sa pag file ng income tax return and alam ko (di kasi ako nag file sa pinas and tax-free sa dubai). Nasa halfway na ako ng etax software then i read in this thread na pwede pang ma-maximise ng return by using the receipts? Tinago ko yung mga resibo ko from groceries can that be used? Also yung mga receipts sa electronics(tv, printer, etc) can the tax on those be claimed as well?

Also, ive heard that marerefund din yung accountant fee if i opt to go with one. Is that true?

TasBurrfoot · July 2013

Hi guys. So far, mga 5% lang ng knowledge sa pag file ng income tax return and alam ko (di kasi ako nag file sa pinas and tax-free sa dubai). Nasa halfway na ako ng etax software then i read in this thread na pwede pang ma-maximise ng return by using the receipts? Tinago ko yung mga resibo ko from groceries can that be used? Also yung mga receipts sa electronics(tv, printer, etc) can the tax on those be claimed as well?

Also, ive heard that marerefund din yung accountant fee if i opt to go with one. Is that true?

What I know is that it can be claimed as a tax deduction for the following year (as this will be an expense for FY 2013-2014)...

Mahirap nga ang filing dito, di lang cguro sanay as super daming things to consider in the etax software...

nfronda · July 2013

Hi guys. So far, mga 5% lang ng knowledge sa pag file ng income tax return and alam ko (di kasi ako nag file sa pinas and tax-free sa dubai). Nasa halfway na ako ng etax software then i read in this thread na pwede pang ma-maximise ng return by using the receipts? Tinago ko yung mga resibo ko from groceries can that be used? Also yung mga receipts sa electronics(tv, printer, etc) can the tax on those be claimed as well?

Also, ive heard that marerefund din yung accountant fee if i opt to go with one. Is that true?

Ung groceries po hndi pwde ma include sa tax refund yan.. Ung sa electronics po, ay ung mga work related lg.. Gaya ng computer or laptop and printer.. Ung Tv po hndi na pwde yan.. Then ung sa accountant fee pwde marefund yan on the next financial year pa.. If I were u as u r newly here, find an accountant na lg.. Kasi complicated ung e tax nla ehh.. Pro pag my accountant everythng is smooth na lg, careful lg dn sa pagpili ng accountant..

Den careful den sa pagclaim ng tax refund, kasi pag nag over claim babawiin at babawiin ng ATO yan sau..

TasBurrfoot · July 2013

Then ung sa accountant fee pwde marefund yan on the next financial year pa...

@nfronda - may I confirm, is it a full refund ba?

Nadine · July 2013

@TasBurrfoot

Probably only a tax refund on accountant fees. But hintayin ko pa din sasabihin ni @nfronda.

Nadine · July 2013

double post

nfronda · July 2013

@TasBurrfoot..Hndi q masasabing full refund.. da way ksi cla mag calculate ay ganito yan, whole year income - lahat ng gusto mong e claim (so jan papasok ung mga receipts m na gusto mong eclaim), then ung total nyan multiply by % ng tax na dapat mong ibayad sa gobyerno ( i don't know how much percent, depende sa annual income m which is after tax na income yan).. Then total annual tax na kinaltas sau - tax na dapat mong ibayad sa gobyerno = ur tax refund..

TasBurrfoot · July 2013

@TasBurrfoot..Hndi q masasabing full refund.. da way ksi cla mag calculate ay ganito yan, whole year income - lahat ng gusto mong e claim (so jan papasok ung mga receipts m na gusto mong eclaim), then ung total nyan multiply by % ng tax na dapat mong ibayad sa gobyerno ( i don't know how much percent, depende sa annual income m which is after tax na income yan).. Then total annual tax na kinaltas sau - tax na dapat mong ibayad sa gobyerno = ur tax refund..

@nfronda - clearer now... It is just treated as a tax deduction...

Not a full refund but you will be getting a portion back based on your overall tax rate (i.e. accountant fee is $100, your tax rate is 25%, then you will be receiving $25 lumped together in your tax refund!)

Cheers...

JCsantos · July 2013

@TasBurrfoot..Hndi q masasabing full refund.. da way ksi cla mag calculate ay ganito yan, whole year income - lahat ng gusto mong e claim (so jan papasok ung mga receipts m na gusto mong eclaim), then ung total nyan multiply by % ng tax na dapat mong ibayad sa gobyerno ( i don't know how much percent, depende sa annual income m which is after tax na income yan).. Then total annual tax na kinaltas sau - tax na dapat mong ibayad sa gobyerno = ur tax refund..

Kami every 100$ na claim we get 30$ refund

annie23 · July 2013

Panu po kung walang iclaim, wala kasi ko natabi na resibo, does it mean na walang ma return na tax?

TasBurrfoot · July 2013

Panu po kung walang iclaim, wala kasi ko natabi na resibo, does it mean na walang ma return na tax?

Majority of the tax refund will come from the PAYG taxes that you have paid during the course of the previous financial yr... All your income will be accounted for and any deductions will be taken into account as well and you will have your final tax payable for the FY 12-13. If sobra yung nabayad mo na tax, this is where you will have your refund.

Kung kulang naman, magbabayad ka sa ATO...

annie23 · July 2013

@TasBurrfoot thanks! regarding deductions, dun lang ba yun ma compute from the receipts/work-related expenses that one will submit? or may iba pa po bang form ng deductions?

nfronda · July 2013

@annie23..merun pa po, un nga lg I can't really explain to u what are those.. Hndi q kasi mayadong maintindihan ung computation ng tax agent q.. Bsta merun pa xang ibang deductions..

Btw, have u already apply for ur medicare levy exemption certifcate?

annie23 · July 2013

@nfronda ok thanks! Will look for a tax agent too to discuss.

Tomorrow ko mag apply for the exemption certificate, nabasa ko po yung posts niyo about it kaya prinepare ko muna yung required docs a couple of days ago.

TasBurrfoot · July 2013

@nfronda ok thanks! Will look for a tax agent too to discuss.

Tomorrow ko mag apply for the exemption certificate, nabasa ko po yung posts niyo about it kaya prinepare ko muna yung required docs a couple of days ago.

Yup, the tax agent would be in the best position to advise you...

Jo_ajero · July 2013

Hello help po sana, we received our PR this year through on shore application from a 457 visa, can we file the expense? Someone mentioned in the earlier thread na pwede po, but when I talked to our acct di daw pwede. Ang laki nya kasing amount, sayang. Salamat.

nfronda · July 2013

@Jo_ajero..Aq po yung nag mention kasi sa akin na eclaim q un.. Other tax agent may say no, other may say yes.. So ung sakn sabi ng tax agent q pwde dw so eninclude q ung receipt q and fortunately nasama xa.. So sa $3060 na bnayad q sa DIAC ang na erefund sakn ay almost $1000..

happyinmelbourne34 · July 2013

@Jo_ajero..Aq po yung nag mention kasi sa akin na eclaim q un.. Other tax agent may say no, other may say yes.. So ung sakn sabi ng tax agent q pwde dw so eninclude q ung receipt q and fortunately nasama xa.. So sa $3060 na bnayad q sa DIAC ang na erefund sakn ay almost $1000..

hi nfronda...tnx po sa tips, na tax refund ko po ung partner subclass 801 visa fee, pero using po ung e-tax. Mga nasa 1k dn po ung na refund nmin considering n almost 3k dn ung bayad nmin s visa at ako po ung nag refund ndi po c hubby. Dun s e-tax ndi na po sya humingi ng mga receipts, i mean walang requirement na i-upload ung mga receipts pero tingin ko nga po mas ma maximise ung refund if gagamit ng accountant although this is my 2nd time using e-tax dahil ndi nman po ganun ka complicated ung mga deductions, i mean wala nman kaming property pa or centrelink benefits like ung childcare or rent allowance

subukan ko po next yr na mag try s accountant nman.

nfronda · July 2013

@Jo_ajero..Aq po yung nag mention kasi sa akin na eclaim q un.. Other tax agent may say no, other may say yes.. So ung sakn sabi ng tax agent q pwde dw so eninclude q ung receipt q and fortunately nasama xa.. So sa $3060 na bnayad q sa DIAC ang na erefund sakn ay almost $1000..
hi nfronda...tnx po sa tips, na tax refund ko po ung partner subclass 801 visa fee, pero using po ung e-tax. Mga nasa 1k dn po ung na refund nmin considering n almost 3k dn ung bayad nmin s visa at ako po ung nag refund ndi po c hubby. Dun s e-tax ndi na po sya humingi ng mga receipts, i mean walang requirement na i-upload ung mga receipts pero tingin ko nga po mas ma maximise ung refund if gagamit ng accountant although this is my 2nd time using e-tax dahil ndi nman po ganun ka complicated ung mga deductions, i mean wala nman kaming property pa or centrelink benefits like ung childcare or rent allowance subukan ko po next yr na mag try s accountant nman.

That's gud..Yes kung sino ung ngbayad xa ang dapat mag claim.. I never try the e-tax.. Ung dad q ksi gumagamt ng accountant, so doon na lg kmi nag fifile..

Metaform · July 2013

So as far as I understand, kung wala naman akong biniling work-related items, yung PAYG lang ang importanteng makita ng ATO. I'd go for the E-Tax software then if that's the case kaysa kumuha ng accountant.

TasBurrfoot · August 2013

Guys, kumusta ang pag lodge ng tax natin?

I just got my refund 10 calender days after lodging, unbelievable!!

peach17 · August 2013

Guys, kumusta ang pag lodge ng tax natin?

I just got my refund 10 calender days after lodging, unbelievable!!

@TasBurrfoot, ang bilis ah!
Ginawa mo din ba yung mag advice and tips dito na magfile ng exemption certificate, compile all work related receipts? Then 70% nga yung marerefund pag less than a year pa lang nagwwork sa OZ? Tama po ba?

COngrats again

TasBurrfoot · August 2013

Guys, kumusta ang pag lodge ng tax natin?

I just got my refund 10 calender days after lodging, unbelievable!!
@TasBurrfoot, ang bilis ah!
Ginawa mo din ba yung mag advice and tips dito na magfile ng exemption certificate, compile all work related receipts? Then 70% nga yung marerefund pag less than a year pa lang nagwwork sa OZ? Tama po ba?

COngrats again

I got a full refund as my income for the FY was still in the tax exempt braket...

No, I did not utilize the tips here... Not yet or not applicable for me.

nfronda · August 2013

@TasBurrfoot..mabilis talaga yan kasi hndi pa whole financial year.. pero pag whole financial year na mdyo matagal tagal ksi dami pa nilang dapt e review.. same sa dad ko, last 2011 nakuha nya refund nya march 2012 na ksi inereview talaga ng masinsinan ng ATO ung claim nya..

Yung sakin wla pa ring balita sa tax agent ko.. wla pang draft of her summation.. pinay ang tax agent namin sa sydney ang ofis nya.. hoping dis week merun na pra mapirmahan na agad at ma elodge sa ATO.

TasBurrfoot · August 2013

@TasBurrfoot..mabilis talaga yan kasi hndi pa whole financial year.. pero pag whole financial year na mdyo matagal tagal ksi dami pa nilang dapt e review.. same sa dad ko, last 2011 nakuha nya refund nya march 2012 na ksi inereview talaga ng masinsinan ng ATO ung claim nya..

Yung sakin wla pa ring balita sa tax agent ko.. wla pang draft of her summation.. pinay ang tax agent namin sa sydney ang ofis nya.. hoping dis week merun na pra mapirmahan na agad at ma elodge sa ATO.

That would make sense!

peach17 · August 2013

Guys, kumusta ang pag lodge ng tax natin?

I just got my refund 10 calender days after lodging, unbelievable!!
@TasBurrfoot, ang bilis ah!
Ginawa mo din ba yung mag advice and tips dito na magfile ng exemption certificate, compile all work related receipts? Then 70% nga yung marerefund pag less than a year pa lang nagwwork sa OZ? Tama po ba?

COngrats again
I got a full refund as my income for the FY was still in the tax exempt braket...

No, I did not utilize the tips here... Not yet or not applicable for me.

nice nman.

full refund pala makukuha pag hindi pa whole financial year ang nifile for refund

ayos