PAYG Tax return

[DOJ]

Hi there I just had confirmation today that my assessment has been successful however it takes at least 70 days in total for processing when it comes to filling it out on paper, as per Mark‘s instructions on the webinar when filling out the tax assessment make sure the taxable income is less than $18,000 and make sure you follow the step-by-step process regarding the affidavit to support the tax return component. The two columns regarding expenses are the uniform laundry expenses column etc which you can claim up to $300 without receipts the other one is the most important further down the page Other work related expenses which this column should have for example if your taxable income was 60,000 and you paid 15,000 in tax then you can put in the other work related expenses as $42,348 which would total $42640 (Including the $300 laundry uniform expense component) which then makes your taxable income as $17352 Total is below the 18200 tax free threshold.

Send that off via registered post and keep photo copies of all documents and then sit tight and hopefully it’s successful and a check should be sent within the next 2 to 3 months.

Good luck!

[ct]

Hello Amanda
I completed 3 years of returns and have recently been audited by the ATO. As Mark mentioned maybe 1/3 of claims are successful, I would look at what your normal return would look like and the Solution Empowerment return, work out the risk reward. Moving forward I’m not paying tax, that’s for sure.

[DOJ]

Hi ct and SE members

I’ve had verbal confirmation regarding my PAYG return is approved for this year and in the process of of amending the only previous year return 20-21.

As the webinar form shown is different to the amendment form to this years version from the ATO is anyone able to advise how the amended figures work ?

I did the previous years via the my gov app and only claimed $250 which my return worked out to be $1581.80 as I’m claiming $62225 under other work related expenses is the amended figure supposed to be as per photo attached .

Thanks in advance for any assistance.

[G]

Could you please explain what other work related expenses are? do you need/have documents for those?

[morag-janet-of-the-hill-family]

You can look up tax department documents in your State or ring them to ask what are considered legitimate expenses. In NZ it can be (not limited to) petrol if you have to travel to a client, any conferences you attend that are work related, travel costs, hotel bills and food bills associated with that are included, work related meals and drinks such as takeaways and coffee (with certain stipulations), depreciation on work vehicles, meals that you have purchased at meetings for clients, end of year party expenses for your workers, any renovations in your workspace, stationery any equipment purchased for the first time for your business. powerbill for your workspace internet bill for your workspace etc Any purchase that costs under $500 can be claimed fully anything over has to have depreciation claimed on it.

[morag-janet-of-the-hill-family]

You need receipts for everything so that if you are audited you have proof. You need to keep these for 7 years.

• This reply was modified 2 years, 7 months ago by  morag-janet-of-the-hill-family.

[morag-janet-of-the-hill-family]

1

• This reply was modified 2 years, 7 months ago by  morag-janet-of-the-hill-family.

[G]

ok thank you. I was curious how someone can come up with ~75% of income as legitimate expenses to get under the tax free threshold. My personal expenses don’t get me beyond even 10%. But I’m in a company which expenses before distributions. Then I’m taxed on that…..

this new posting editor is terrible.

[morag-janet-of-the-hill-family]

I was working with some one who was paying me petrol expenses. I asked them to stop becasue I received more benefit by claiming my milage as an expense through the tax department. So she stopped providing me with petrol money. Maybe you could negotiate with the company you are working for.

• This reply was modified 2 years, 7 months ago by  morag-janet-of-the-hill-family.

[G]

I do pay my fuel. I claim the maximum without a log book. Now that fuel is expensive I’ll be running a log book for 1 qtr to see which is the higher claim. I claim for home office, part power etc. Everything possible. I look at what people are claiming and what is left over and wondering how that can be possible. I must be setup wrong is all I can think.

This new posting editor is not very good. Very slow and many times I’m typing and nothing is showing up..

[morag-janet-of-the-hill-family]

Have you purchased the Rules of the Game sessions. I am going through them now and they have lots of information about how to deal with taxes on them.

[amanda]

Hi everyone, thank you all for the replies, I am also struggling with the other work expenses, because I’m a wage earner and I earn quite a bit, I also don’t have any receipts, so the amount of other work place expenses to bring the taxable income down to under the $18200 or whatever it is, is quite large.