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