CA (Chartered Accountant)/Tax Agent/会计 - 在线解答各类Tax/Accounting问题

shuangchao

The old foreign loss quarantine rules have been lifted, from 01 july 2008, foreign losses will no longer be quarantined into different classes. therefore your assessable income can potentially be offsetted by both domestic and foreign component.

zyold

请教楼主下面一段话应该如何理解？

your taxable income exceeded $2666
if you were under 18 years old at 30 June 2009 and your income was not salary or wages, you must lodge a tax return

可以理解为低于18岁 的小孩，没有工资之类的收入，那么$2666以内的收入可以不用申报，是吗？

shuangchao

原帖由 zyold 于 2010-5-27 18:25 发表
请教楼主下面一段话应该如何理解？

your taxable income exceeded $2666
if you were under 18 years old at 30 June 2009 and your income was not salary or wages, you must lodge a tax return

可以理解为 ...

No, its not mutually exclusive, if you earn an under 18 earn less than $2666, if he/she derive business income, he stills need to lodge, if there is an capital gain event, he still needs to lodge
the sentence simply means, an under age have to lodge if he/her non salary or wages income exceed 2666, it does not mean that he/she does not have to lodge if its under.

shuangchao

IceCreamz

Hi David,
How to protect one's assets so that in the event of a divorce, half your assets do not go to your partner? Thanks.

shuangchao

原帖由 IceCreamz 于 2010-5-31 10:10 发表
Hi David,
How to protect one's assets so that in the event of a divorce, half your assets do not go to your partner? Thanks.

i am not qualified to give legal advise. sorry

tyxzh

楼主你好，想请问一下如果super除了公司给存的9%后，自己再存多少才能享受政府的1500刀的补助呢

应该是税前存还是税后存，有什么区别么，谢谢

shuangchao

原帖由 tyxzh 于 2010-5-31 20:06 发表
楼主你好，想请问一下如果super除了公司给存的9%后，自己再存多少才能享受政府的1500刀的补助呢

应该是税前存还是税后存，有什么区别么，谢谢

the co contribution amount has been reduced to $1000 until 30/06/2012. it must be after tax contribution. your earning must be below $61920, between $31920 and $61920. the $1000 is reduced for every dollar earned
Please consider if its better to spend the $1000 somewhere else, you won't have access to the money until you reach retirement age.

lovemylife

麻烦问一下，我09年7月到10年1月的工作是作为ABN solo trader来拿工资的，从今年3月开始找到的新工作又是用TFN拿的工资。这样的话是不是既要报GST又要claim tax return啊？

BTW，楼主公司电话没人接啊。。。想上门咨询来着。。。

shuangchao

原帖由 lovemylife 于 2010-6-2 09:35 发表
麻烦问一下，我09年7月到10年1月的工作是作为ABN solo trader来拿工资的，从今年3月开始找到的新工作又是用TFN拿的工资。这样的话是不是既要报GST又要claim tax return啊？

BTW，楼主公司电话没人接啊。。。想上门 ...

are you registered for GST? if so, yes you need to lodge GST return and income tax return
sorry, i have been busy organizing my new office in boxhill, so i have been out of office alot lately, please reach me on my mobile 0421644681.

Btw, any everyone that follows this post,
new office opens 15th of June in Boxhill, above ANZ & CBA bank.

stephenqiu

原帖由 shuangchao 于 2010-6-2 12:03 发表
new office opens 15th of June in Boxhill, above ANZ & CBA bank

Congrats on the opening of your new office!

jgo

let me ask a question.

I registered a sole trader September 2008. For the first year of running a small business, I don't need to do withholding tax, my small business is just myself, does not employ anyone else.

I lodged annual tax return through tax agent in March 2010 for financial year 2008-09. I have also paid out the tax for 08-09.

Question is I think ATO will send me a letter to ask me to do withholding tax, because I have lodged my first tax return since SB. but I have not received the letter, why?

I am thinking if I should bother myself to call ATO?

shuangchao

原帖由 jgo 于 2010-6-2 15:06 发表
let me ask a question.

I registered a sole trader September 2008. For the first year of running a small business, I don't need to do withholding tax, my small business is just myself, does not empl ...

well, depend on when your return is lodged, if its only recently, then the ato probably hasn't processed the withholding notice yet.
or other possibilities maybe:
1. you paid only a couple of hundred dollars for 09 tax and its below the withholding threshold
2. wrong postal address?

shuangchao

原帖由 stephenqiu 于 2010-6-2 14:53 发表


Congrats on the opening of your new office!

thanks stephen

IceCreamz

Hi David,
I am a bit confused by the CGT discount for super funds:
On ATO website: discount method allows you to discount your capital gain by 33 1/3% for complying superannuation funds
http://www.ato.gov.au/individual ... =/content/36542.htm

However, my accountant says that super funds might be up for 10% CGT if a fund has owned an asset for more than 12 months.  If an asset is held for less than one year the super fund CGT rate will be 15%.

Who is right please?  Thanks.

triumph_w

我持457签证，我老婆在家里带孩子没有工作。dependent spouse, Child-housekeeper 这些offset我都可以申请吧？ 她们没有全年在这里，那么时间从哪一天开始算呢？

shuangchao

原帖由 triumph_w 于 2010-6-3 13:54 发表
我持457签证，我老婆在家里带孩子没有工作。dependent spouse, Child-housekeeper 这些offset我都可以申请吧？ 她们没有全年在这里，那么时间从哪一天开始算呢？

i doubt you will be eligible for child housekeeper offset
but in terms of dependent spouse offset. it should be safe to claim from the date of their arrival.

triumph_w

原帖由 shuangchao 于 2010-6-3 15:12 发表


i doubt you will be eligible for child housekeeper offset
but in terms of dependent spouse offset. it should be safe to claim from the date of their arrival.

A child-housekeeper is your child, adopted child or stepchild who kept house for you full time. A child who is a full-time student or a full-time employee is not considered to keep house full time.

Keeping house means more than simply child-minding or performing domestic duties. It includes having some responsibility for the general running of the household.


Child-housekeeper tax offset - income tests   
        

This tax offset provides tax relief for personal circumstances. To be eligible for the offset you must meet specific criteria.

From 2009-10, the introduction of a new income test may affect your eligibility for this tax offset. You may no longer be eligible for the tax offset or only be entitled to a lesser amount.

In previous years, your taxable income and the separate net income of your child-housekeeper was used to assess your eligibility. From 2009-10, your and your child-housekeeper’s adjusted taxable income will be used. All other eligibility requirements remain unchanged.

Your adjusted taxable income is the sum of the following amounts:

taxable income
adjusted fringe benefits (reportable fringe benefits x 0.535)
tax-free pensions or benefits
target foreign income (income from overseas not reported in your tax return)
reportable super contributions
total net investment losses (includes both net financial investment losses and net rental property losses)
less

child support you’ve paid.
If you had a child-housekeeper, you will be eligible to claim this offset if all of the following apply:

your adjusted taxable income was $150,000 or less or, if you had a spouse, your combined adjusted taxable income was $150,000 or less
your child-housekeeper’s adjusted taxable income for the year was less than $7,594 or $9,042 if you had another dependent child
you met all the following conditions:
you maintained your child-housekeeper
your child-housekeeper was an Australian resident  ****************
you were an Australian resident at any time in 2009-10
you were not eligible for a dependent spouse tax offset ************************
you were not eligible for family tax benefit Part B or were only eligible for it at a shared-care rate.

It seems I am not eligible for the child-housekeeper  if I claim the dependent spouse offset.

Then,is the dependent spouse offset the only offset I am eligible for?

shuangchao

原帖由 triumph_w 于 2010-6-3 15:26 发表



A child-housekeeper is your child, adopted child or stepchild who kept house for you full time. A child who is a full-time student or a full-time employee is not considered to keep house full ti ...

depending on your income, and types of income,
you maybe eligible for low income offset, if you run a business, you maybe eligible for offsets like entrepeneur tax offset etc etc. E-tax is designed to alert you if you maybe eligible for tax offsets, this is handy when you lodge by yourself.

shuangchao

原帖由 IceCreamz 于 2010-6-3 13:42 发表
Hi David,
I am a bit confused by the CGT discount for super funds:
On ATO website: discount method allows you to discount your capital gain by 33 1/3% for complying superannuation funds
http://www. ...

okkk, you may have misunderstood what your accountant is trying to say
let me explain with an example, let'say there is a $10000 gain in the superfund, the asset held for more than 12 mths therefore 1/3 discount applies
the taxable component will be $10000*2/3 = 6666.66666, the tax payable @ 15% is 1000. which is exactly 10% of the 10000. this is what he meant by the 10%

shuangchao

Karen_au

请教楼主
我今年买了套投资房，95年建的房子
请问我还能claim depreciation吗？
ATO在投资房的deprectiation上面的规定是什么？谢谢赐教

旗开得胜

好帖，很专业，顶

shuangchao

原帖由 Karen_au 于 2010-6-6 12:33 发表
请教楼主
我今年买了套投资房，95年建的房子
请问我还能claim depreciation吗？
ATO在投资房的deprectiation上面的规定是什么？谢谢赐教

yes you can, your depreciation report have to be prepared by a licensed quantity surveyor, if you are in Melbourne, you may want to forward me some photos of your house, i can tell you an estimated annual depreciation amount. upon your approval. i can arrange for an inspector to do onsite inspection and prepare the report for you.

Paddy

请教楼主

I have received a redundant package this year. does the Lump Sum D untaxed part amount will affect my FTB A?

Thanks,

shuangchao

原帖由 Paddy 于 2010-6-6 22:39 发表
请教楼主

I have received a redundant package this year. does the Lump Sum D untaxed part amount will affect my FTB A?

Thanks,

hi, my understanding is that lumpsum d will not affect your FTB entitlements,

however, since you were made redundant, there could be a big payout of your leave entitlements which is taxable and may affect your ftb entitlement. with any major change in circumstances, you should advise the FAO office.

S明月S

Hi David: 我想问问如果收到的信用卡积分的现金返还(是GIFT Card的形式),一年差不多有300块了,这部分也要保税吗?如果要报是不是信用卡的年费可以deduct?多谢

[ 本帖最后由 S明月S 于 2010-6-7 10:16 编辑 ]

shuangchao

原帖由 S明月S 于 2010-6-7 10:15 发表
Hi David: 我想问问如果收到的信用卡积分的现金返还(是GIFT Card的形式),一年差不多有300块了,这部分也要保税吗?如果要报是不是信用卡的年费可以deduct?多谢

i don't know if there is an official statement by the ATO on this statement, but i'd consider it to be a refund of your private expenditures, which is NOT TAXABLE
sounds like you have a good reward card there, may i know what card it is? i am looking for a good reward card myself

S明月S

i don't know if there is an official statement by the ATO on this statement, but i'd consider it to be a refund of your private expenditures, which is NOT TAXABLE
sounds like you have a good rewa ... [/quote]
Thank you very much...The good reward card is Myer visa Card. $39 annual fee($20bonus when you apply)...I spent a lot on credit cards as well...hehe...all the utilities bills can be paid on Postbiller pay website and you can use your Myer visa card. if you shop at Myer, 3 times rewards...very good :) another one I am using is AMEX, but not everyplace accept it....also good rewards though.

shuangchao

原帖由 S明月S 于 2010-6-7 10:41 发表
i don't know if there is an official statement by the ATO on this statement, but i'd consider it to be a refund of your private expenditures, which is NOT TAXABLE
sounds like you have a good rewa ... ...

thank you