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WOO HOO! My tax return will pay for 2 more cruises!


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Hi all!

 

Just completed my tax return using E-Tax online. Have been waiting for Centrelink to post my Pension Statement but found out that they don't do that anymore. You have to log on then down-load it!

 

Anyway, long story short, I will be getting LOTS back as I'm now a Pensioner still working part-time so paying 25% tax but with the Pensioner Rebate as well as the Mature-age Worker Rebate, I've paid way too much tax this year!!

 

So, it looks like I'll be able to cruise again in Summer 2014-2015! I'll have to get all my cruising booklets out again!

 

HAPPY DAYS!!! :D

 

Gae

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Yay! Very envious though, DH paid twice my annual wage in tax alone this year and our return still won't even pay for one! Mind you after a lifetime of paying the government tax you definitely deserve a cruise on them :o

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I haven't done my tax yet but I also pay extra tax and last financial year I paid a lot of money for teeth implants and received nothing back from my health fund so I will be claiming this also, so expecting a bit back. Going to spend it on a land holiday travelling from Johannesburg to Nairobi.

Elaine.

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Hi all!

 

Just completed my tax return using E-Tax online. Have been waiting for Centrelink to post my Pension Statement but found out that they don't do that anymore. You have to log on then down-load it!

 

Anyway, long story short, I will be getting LOTS back as I'm now a Pensioner still working part-time so paying 25% tax but with the Pensioner Rebate as well as the Mature-age Worker Rebate, I've paid way too much tax this year!!

 

So, it looks like I'll be able to cruise again in Summer 2014-2015! I'll have to get all my cruising booklets out again!

 

HAPPY DAYS!!! :D

 

 

Gae

 

 

Well done!!! A great surprise and I would do the same.....spend every $ on a cruise!!!

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Very envious, the taxes we paid this year probably paid 2 government employees annual salaries, don't ask.

 

If you are paying that much tax, I wouldn't mind being left with the balance. :):) If you are paying that much tax, then you are earning a h*** of a lot.

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Hi all!

 

Just completed my tax return using E-Tax online. Have been waiting for Centrelink to post my Pension Statement but found out that they don't do that anymore. You have to log on then down-load it!

 

Anyway, long story short, I will be getting LOTS back as I'm now a Pensioner still working part-time so paying 25% tax but with the Pensioner Rebate as well as the Mature-age Worker Rebate, I've paid way too much tax this year!!

 

So, it looks like I'll be able to cruise again in Summer 2014-2015! I'll have to get all my cruising booklets out again!

 

HAPPY DAYS!!! :D

 

Gae

 

Good for you, happy sailing.:D

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That is great news!

 

We have really been slogged with taxes, had to pay some very large tax bills in June, and then we got hit with a large BAS last month with large tax bills.

 

We could have nearly booked a round the cruise with the tax that we paid.

 

I actually walked into a travel agent and picked up a travel brochure, after I paid my tax bill, to put my mind on my passion of travelling rather than paying taxes.

 

And then to top it off, got a large bill from Centrelink, because I was overpaid Family Tax benefit, and rang Centrelink up to arrange to pay it off and the girl got up me because I hadn't notified them that I was earning an income. The joys of both of us being self employed.

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Hee Hee - we are in the "Tax saving club" as well - don't you just love it :p we pay extra tax - husband was self employed - then went back into the rat race - so got extra in the refund - and we had paid for the cruise prior to that - so BONUS....................I feel another cruise coming on. ;) Don't like the BAS bit - you are an unpaid tax collector - sooooo wrong. :mad:

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Hee Hee - we are in the "Tax saving club" as well - don't you just love it :p we pay extra tax - husband was self employed - then went back into the rat race - so got extra in the refund - and we had paid for the cruise prior to that - so BONUS....................I feel another cruise coming on. ;) Don't like the BAS bit - you are an unpaid tax collector - sooooo wrong. :mad:

 

That gripes me too. Given this is an entirely additional job we have to do it sucks.

 

You do know that you can pay your business tax bill by credit card and if it is one that gives you Frequent Flyer points, that lets you travel by plane in great style to meet your cruise, don't you! You need to use a special website that the ATO doesn't promote at all so it isn't treated as a cash deduction and you do pay 1% credit card costs but the points you earn are wonderful. Let me know if you need more details.

australianfrequentflyer.com.au/community/showthread.php?t=17109

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Hee Hee - we are in the "Tax saving club" as well - don't you just love it :p we pay extra tax - husband was self employed - then went back into the rat race - so got extra in the refund - and we had paid for the cruise prior to that - so BONUS....................I feel another cruise coming on. ;) Don't like the BAS bit - you are an unpaid tax collector - sooooo wrong. :mad:

 

That gripes me too. Given this is an entirely additional job we have to do it sucks.

 

You do know that you can pay your business tax bill by credit card and if it is one that gives you Frequent Flyer points, that lets you travel by plane in great style to meet your cruise, don't you! You need to use a special website that the ATO doesn't promote at all so it isn't treated as a cash deduction and you do pay 1% credit card costs but the points you earn are wonderful. Let me know if you need more details.

australianfrequentflyer.com.au/community/showthread.php?t=17109

 

Yes I have felt like the unpaid tax collector for the last 13 years. And because my DH is in the building industry we now have to submit details to the ATO of subcontractors we engage. What a nightmare that has been to get the necessary form, and the form was submitted late, next thing we will have a letter from the tax office that our form was late. The ATO are so bloody painful to deal with. Try ringing them, you can't get through.:(

 

Where do you go to pay the ATO by credit card? Also is the cost of making the payment a tax deduction?

 

From what I have just read I think we can claim the fee as a tax deduction. And the fee for a Visa/ Mastercard is 0.48%

 

The CPF is deductible to the extent that:

you incurred it as a result of paying an income tax liability and you did not borrow money from your card provider to make the payment

you incurred it as a result of paying a goods and services tax, fringe benefits tax, luxury car tax or wine equalisation tax liability, and that liability arose in the course of gaining or producing your assessable income, or in the course of carrying on your business for the purposes of gaining or producing assessable income

you incurred it as a result of making PAYG withholding payments where you can claim a deduction for the wages and salaries that gave rise to the withholding obligation

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I have not needed to do a tax return since I turned 60, that was 5 years ago. My defined benefit, CPI indexed lifetime Super pension is tax free and I have no stocks and shares. I like to keep things simple. Still and all I paid plenty of tax during my 40 year working life.

 

I have one of the pensions like the politicians have, only I was not a Pollie, thank god.

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I have not needed to do a tax return since I turned 60, that was 5 years ago. My defined benefit, CPI indexed lifetime Super pension is tax free and I have no stocks and shares. I like to keep things simple. Still and all I paid plenty of tax during my 40 year working life.

 

I have one of the pensions like the politicians have, only I was not a Pollie, thank god.

 

You are a lucky duck then, I have already worked for 32 years and will need to work for another 14 years before reaching the preservation age for my super.:(

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Yes I have felt like the unpaid tax collector for the last 13 years. And because my DH is in the building industry we now have to submit details to the ATO of subcontractors we engage. What a nightmare that has been to get the necessary form, and the form was submitted late, next thing we will have a letter from the tax office that our form was late. The ATO are so bloody painful to deal with. Try ringing them, you can't get through.:(

 

Where do you go to pay the ATO by credit card? Also is the cost of making the payment a tax deduction?

 

From what I have just read I think we can claim the fee as a tax deduction. And the fee for a Visa/ Mastercard is 0.48%

 

The CPF is deductible to the extent that:

you incurred it as a result of paying an income tax liability and you did not borrow money from your card provider to make the payment

you incurred it as a result of paying a goods and services tax, fringe benefits tax, luxury car tax or wine equalisation tax liability, and that liability arose in the course of gaining or producing your assessable income, or in the course of carrying on your business for the purposes of gaining or producing assessable income

you incurred it as a result of making PAYG withholding payments where you can claim a deduction for the wages and salaries that gave rise to the withholding obligation

 

Yup. It has enabled me to travel in Business class more than I could ever have afforded to pay. And if you run a business, generally, that fee is tax deductible but you must seek your own advice. I just wish I had learnt about it earlier - I've only known about it for perhaps 12 months. Groan. Did you find the site? It is in the link I gave earlier.

 

I am just starting the Transition to retirement payment. Makes the super tax free except for payments on contributions. Just nice! But will still be working a few years yet.

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You are a lucky duck then, I have already worked for 32 years and will need to work for another 14 years before reaching the preservation age for my super.:(

I know I am, I actually retired at 55. I wore one of those blue suits with silver buttons. They don't really want you out on the street past 55, so 36 years service, I was out the door and I did not look back.

 

So have been cruising for the past 10 years.

 

I realise with changing super rules it is getting tough now to retire early, good luck to you and all out there still waiting to retire, it will happen. Then you can join the SKI Club (Spend Kids Inheritance) and keep on cruising.

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I know I am, I actually retired at 55. I wore one of those blue suits with silver buttons. They don't really want you out on the street past 55, so 36 years service, I was out the door and I did not look back.

 

So have been cruising for the past 10 years.

 

I realise with changing super rules it is getting tough now to retire early, good luck to you and all out there still waiting to retire, it will happen. Then you can join the SKI Club (Spend Kids Inheritance) and keep on cruising.

 

Yes, I have only been in the PS for 9 years so missed out on your super scheme, I am not sorry, I will still do alright. You deserve your pension and some.:D

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That gripes me too. Given this is an entirely additional job we have to do it sucks.

 

You do know that you can pay your business tax bill by credit card and if it is one that gives you Frequent Flyer points, that lets you travel by plane in great style to meet your cruise, don't you! You need to use a special website that the ATO doesn't promote at all so it isn't treated as a cash deduction and you do pay 1% credit card costs but the points you earn are wonderful. Let me know if you need more details.

australianfrequentflyer.com.au/community/showthread.php?t=17109

 

Wow - thank you so much for taking the time to post! This is great!

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