If you made less than the tax-free threshold, do you HAVE to (as opposed to should) lodge a non-lodgement advice to the ATO (i.e. is it an offence not to)? It seems to me that the ATO website itself is unclear on this (it uses the word "should" as opposed to "must", which it does use for other stuff that is actually mandatory). If the answer is yes, what would happen if you don't and how long would it take for the ATO to take any sort of action?
Thanks!
Edit: Really appreciate all the comments guys! As pointed out in the comments, I just find it frustrating and silly that in order to convince the gov that you don’t need to submit a form, you have to submit another form, failure to do which might result in you being fined for an amount larger than your entire bloody income!
I finally got my Arrêté de nomination and it looks like I will be teaching at l'école tissot primary in Grigny, a little bit outside of Lyon. Now finally comes the daunting task of struggling to find a lodgment which has been stressing me the hell out. I know one thing would be to rent an Airbnb or stay at a hostel for a couple weeks in the city while going apartment hunting. I'm looking for lodgement in the 1e, 2e the 3e, 5e, 6e, 7e, or 8e arrondissement. Is there anyone posted in lyon looking for flatmates? let me know and let's link up. I will be arriving in lyon at the end of september.
Hi all,
I have a small business without complicated invoicing (income from contracting only) or PAYG (myself only, paid via distributions).
As BAS/GST can be done directly on the ATO business portal, and I don't need 90% of what the typical accounting software provides, I don't really want to pay $20+ a month for only EOFY tax lodgement.
Before last FY I used an accountant at $205/mo, but now only operating a few months of the year, so can't warrant that.
BASOFF "free accounting software" - $100/year, used to be free but now charges (for new members). This is probably all I need, has anybody used this?
QuickBooks - $22/mo Xero - $27/mo MYOB - $27/mo
Reckon - $8/mo, this seems like a winner, has anybody used? It doesn't explicitly state it covers lodgement with the ATO, but presumably it does...
Cheers!
EDIT: going for a combination of Reckon for the package, and "LodgeIT" for the... Lodgement. Thanks for all input.
Hi all,
I was going through my income tax return in ATO portal and I can see they have flagged that ATO has received information from a foreign tax authority which indicates that in previous income years, I have received interest or dividends from a foreign financial investment. It does not specify any other details apart from this message. My guess is that it is due to the fact I hold some US shares invested via STAKE. Has any one seen this on their current tax returns (possibly who use stake or any other similar platforms) and is there any way to know more details about this warning(apart from calling the ATO).
Hey all,
I am attempting to do my tax this time on the ATO website without the use of a tax agent and I am stuck on the deduction part on my personal devices. Can you please help?
Here are the device plan details:
PHONE
From 01 July 2019 - 30 November 2019: I was on a $37 plan
From December 2019 - till now: I am on a $75 plan (handset $35, plan $39 plan) - Data: 10gb/month
I have used my phone 40% of the time for work-related matters, mainly for email & receiving meeting alerts. Hardly used for making or receiving calls.
IPAD
I bought this on a plan in April 2018 & finished paying it in April 2020.
The monthly payment on it throughout has been A$ 35.
Data: 10gb/month
I have used the ipad 70% of the time for work, mainly for taking notes, emails & video conference.
LAPTOP
I bought this in 2015 but have been using it for work 100% of the time (WFH) during the COVID19 lockdown since March 2020 till now.
I paid about $1350 for it back then.
QUESTIONS
What formula should I use to calculate the deduction & depreciation of my devices for the 2019-2020 period?
I went through the ATO article, which had some examples. Using that as an example, it looks like I need to do:
- PHONE: ($37 x 5 months x 40%) + ($75 x 6 months x 40%) - does that look right?
- IPAD: $35 x 12 months x 70% - does that look right?
- LAPTOP: Not sure how.
I understand there is a new shortcut method of $0.80 which I don't mind using for March 2020 - June 2020 lockdown WFH period and the previous period (pre-covid19, July 2019 - Feb 2020) use the old method (whatever that is).
Sorry for the long post. I just wanted to make sure I get this right and hence all the details.
That's it from me!
Looking forward to hearing from someone.
Thank you for your time.
Can’t seem to work this out. I called the ATO and they just gave me general information that the cashflow boost will be paid some time after my BAS is lodged and processed, I also sent a secure message a couple weeks ago to the ATO through my business portal but no reply yet.
Has anyone actually received it yet?
Hello everyone,
So I'm new to Australia (have a PR) and started my job on 1st April. So for this financial year (July 2019- June 2020) I will have earnings <30K. Do I still have to pay tax? Its actually being deducted by my company every fortnight. If I am not liable to pay any tax based on my income, how do I get back the deducted tax amount?
How do I go about filing my tax returns? Is it something that I can do on my own, or do I need a tax accountant? I just have a full-time day job and no other income.
Thanks for all teh advise that is to come.
Hi.
Is it due to a much lower demand? Or other reason(s)? Your thoughts?
Thanks.
I used to go to a tax agent last two financial years and planning to do it myself this year. They charge like $120 to do it which is not my main concern but the information I can research to have the guts to do it myself.
The reason why went to them was that I wanted to get a maximum tax refund whilst my claims are within the safe limits. Not much has changed this year but I was wondering if I could for a change this year and file it myself and put all the deductions. Anyone else in a similar boat? I do use my car for work and my phone. I have an occupation-specific clothing and stuff. Not sure how much I can claim for all these and other work-related decutions. Hoping if anyone likes to discuss all this in details.
As above, I know banks are closed on weekends but I need to lodge cash into my Boi account. Is there any ATM that off This service?
Hi,
In my previous bank, wages from my employer would go into my Irish bank account around 10:30pm on a Thursday night, its Sunday now and I thought the transfer would have went through on Friday. Maybe its the bank holiday weekend but is there usually a long delay? It should definitely be there by next Tuesday ?
Hi reddit,
unfortunately I'm late in lodging the tax return due to some circumstances. I'm just about to lodge it today, but the site was on maintenance until Monday morning.
Will there be any fine for this late lodgement, if so, how much?
Any way I can avoid the fine?
Thanks heaps in advance :)
