need help with tax

[dijm8]

ey guys need some help with my tax...

ok my problem is that im being over taxed, and got told to get the tax declaration form. and im stuck on a few questions.. these will help me get my tax lower

Q 1
are you an australian resident for tax purposes? yes or no

Q 2
do you want to claim the tax-free threshold from this payer? yes or no
(only claim the tax-free threshold from one payer)


cheerz for the help guys

[maginoodle]

answer the first one correctly ie if you are a australian resident tick yes
the second one- the first 6000 you earn is tax free. If you only work for one employer tick yes. that way they will take less tax out each week.

[minux]

If you work 2 jobs you can only claim the tax free threshold on one of those jobs.

[dijm8]

yeh ive only got the 1 job, so yeh i'll tick yes then for both,

cheerz guys for the help

[Morton]

Yeah, just to confirm, you -can- tick yes for that tax free threshold. Personally, I prefer not to though - it helps put aside a few extra dollars, and gives me a nice little bonus each September

[jules]

Yeah, just to confirm, you -can- tick yes for that tax free threshold. Personally, I prefer not to though - it helps put aside a few extra dollars, and gives me a nice little bonus each September

actually you're giving the govt. an interest free loan. i suppose i should say thanks on behalf of all australians

it's better to take the money and earn interest on it

[vlv8vic]

lol yeah to hell with that I'd rather make something out of my money than have it sit in govs pockets.

[Shounak]

If anyone wants to lend me money interest free, I'll guarantee your money back, I'd do it with a claim against anything I own.

With the current sharemarket, it's not hard to earn 35%PA plus, with little overall risk. I'd rather have my money put away + 35% than just the initial sum.

Don't believe me, check out the performances of some managed funds with some good solid blue chips.