Tax Retruns

[crYnOid]

Originally Posted by bjr22n

wow thats a very nice return, i est $7,060... refund.

did you take extra out in tax???

I'm a contractor so when I work I normally hit the maximum tax bracket. But I also have periods that are dead with virtually no work thus the high amount of tax paid. The bad part of the job out:

I also use my car for work (approx. 80%) plus lots of other deductions.

But this bit I don't get, I also get paid for each km I travel but it is seen as a fringe benefit by the ATO so every km I travel over 5000km is also taxed. I have no idea what is happening there or how it will effect everything at the end. :

This is why I go to a tax accountant! I have nfi......

[bjr22n_]

If i use $31,000 taxable income....

Tax on taxable income $5,160
medicare levy: $465
Tax Liability: $5,625

[FordFan86]

I earnt approx $25k and paid about $4,500 in tax (not enough much :S). With the tax free threshold and tax deductions I've still managed to make a claim for $600.
With earnings and tax paid, it is a set thing generally, the amounts differ different jobs, total incomes, deductions that can be made etc.

[Disco1986]

yeah just make up BS until u get it all back!