TAX TIME....finally!

Kryton · 02-07-2007, 01:43 PM

well its that time again.
ive already got my tax return planned out.
im getting a new computer + ADSL2, giving the BA a good service, GF and I are both getting our motorcycle learners and possibly will buy a motorbike as well.
so, what is everyone else going to do with their return?

||| · 02-07-2007, 01:48 PM

2 slabs of ice cold tinnies

Black F6 · 02-07-2007, 01:50 PM

Tax Time!!!, every friggin day is tax time.

And its starts all over again.

By the way Im an accountant

:

sgt_doofey · 02-07-2007, 01:52 PM

Quote:

Originally Posted by davway

well its that time again.
ive already got my tax return planned out.
im getting a new computer + ADSL2, giving the BA a good service, GF and I are both getting our motorcycle learners and possibly will buy a motorbike as well.
so, what is everyone else going to do with their return?

Jeez. How many dodgy deductions do you make to be able to get all of that?

Looking forward to our tax returns to get a bit more cash in the bank for our overseas trip later on in the year.

merlin · 02-07-2007, 01:58 PM

Hmm full 3" inch exhaust for me I thinks....thats if I don't owe them money like I did last year...

King Nothing · 02-07-2007, 01:58 PM

Oooh, I can't wait to get my tax return! I've only started full time work in feb this year. So I will get a fat return this year! Oh yeah!

:

Will probably go towards mods on the BA, or save towards my house deposit

Dazza XLT · 02-07-2007, 02:19 PM

Quote:

Originally Posted by BFXRScott

By the way Im an accountant

:

Rang my accountant....
"He's in the Kimberleys for 4 Weeks"

What a crap time of year to head off for holidays.
Our dog needs surgery, I reckon thats where mine will go, and also into the "House Deposit Fund" (Donations being taken! :P )

Cheers

Darran

TheSneakiness · 02-07-2007, 02:25 PM

Probably only a tank of 98 I'll get outta mine... :(

Kryton · 02-07-2007, 02:26 PM

Quote:

Originally Posted by sgt_doofey

Jeez. How many dodgy deductions do you make to be able to get all of that?

no dodgey deductions. actually thats without any deductions.
i pay an extra 10% of my gross salary to tax.
its the easiest way to save money.

banarcus · 02-07-2007, 02:29 PM

New exhaust. Happy days.

Falcon_Phill · 02-07-2007, 02:39 PM

A new laptop and some fix ups for the fairmont hopefully.

MISTA FIESTA · 02-07-2007, 02:44 PM

Tax return will hopefully go to the " Damo wants Fiesta XR4" fund.

Outbackjack · 02-07-2007, 02:48 PM

Tax return???? I only ever pay more!!

TheSneakiness · 02-07-2007, 02:51 PM

Quote:

Originally Posted by The_Axe

Probably only a tank of 98 I'll get outta mine... :(

Make that a tank and a half...

FordFan86 · 02-07-2007, 02:52 PM

Hopefully a bit.. then get raped by my HECS debt, still not sure how it works.. but anything back in my pocket will satisfy me.

4.9 EF Futura · 02-07-2007, 02:59 PM

Im not saying jack about an expected return this year!! 05-06 FY, saw my letter from the ATO in the letterbox. "Great, been waiting to get the tax back on that bonus".

F--ken joking, was a $50 debt. "Damn, i gotta get some kids!!". Was the first time i breached the MLS threshold in a financial year and it happened halfway through the year... so i wasnt covered for it.

So... i guess my refund this year (if i get one) will be taken to pay for the outstanding debt i ignored last year (50 bucks? Out of 230 billion??). Already got my HECS statement so i know how much is coming from that. No deductions in my line of work, might be able to claim some depreciation on the PC as it has work stuff on it, but prorata that for the 3 months ive had it and its not worth the ink i'd use calculating it on a napkin.

Falcon_Phill · 02-07-2007, 03:00 PM

Quote:

Originally Posted by Outbackjack

Tax return???? I only ever pay more!!

Isnt that only if you dont pay it in the first place? Not that I have any clue how it works, I just cant see why youd pay more.

Black F6 · 02-07-2007, 03:03 PM

Quote:

Originally Posted by Falcon_Phill

Isnt that only if you dont pay it in the first place? Not that I have any clue how it works, I just cant see why youd pay more.

Obviously, self employed!!!

:

Outbackjack · 02-07-2007, 03:20 PM

Quote:

Originally Posted by Falcon_Phill

Isnt that only if you dont pay it in the first place? Not that I have any clue how it works, I just cant see why youd pay more.

I have some investment properties turning into the black..... I am pretty sure that this is going to bite me in the hip pocket once again.

bjr22n_ · 02-07-2007, 03:24 PM

hmm, a new car.... or close to it.

Tax time every day for me to.

I hate the next 3 months.... good bye life.

Powdered Toast Man · 02-07-2007, 03:39 PM

Quote:

Originally Posted by Outbackjack

Tax return???? I only ever pay more!!

Unfortunately I'm with you Outback Jack, although my bill will be fairly low this year compared with last year (over $1800 bucks last year).

Quote:

Originally Posted by fordfan86

Hopefully a bit.. then get raped by my HECS debt, still not sure how it works.. but anything back in my pocket will satisfy me.

Did you nominate that you owe HECS on your payment form when you started work or told your pay department. If so then by rights they should have been taking out your HECS payments each pay as extra tax. If you have to pay more it's because they didn't take out enough, which is what happens with me. But I know about it and am prepared, next year should be sweet though.

It's a percentage of your gross wage/salary depending on what you earn. The percentage goes up the more you earn so it's an exponetial growth in your tax deductions.

T3ts50 · 02-07-2007, 03:40 PM

Not much. Im only gonna get but 100 bucks back

Quicksand · 02-07-2007, 03:50 PM

You are spot on Dave we do the same thing, an extra $30-50 a week gives a tidy 2 grand at the end of each financial year even before legit deductions. Because it comes out of your pay before it hits your bank you hardly miss it

We will be using ours to try to upgrade to the XR6T BF (hanging out for that turbo spool and 6 speed!)

Quote:

Originally Posted by davway

no dodgey deductions. actually thats without any deductions.
i pay an extra 10% of my gross salary to tax.
its the easiest way to save money.

seXE · 02-07-2007, 03:51 PM

Rims!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

well, to contribute to my bank account in order to get new rims.

Yellow_Festiva · 02-07-2007, 03:57 PM

I havn't got any money back in years. Looks like i'll be paying through the nose as I sold a place I owned and now have to pay for all those years of capital gains.....

Fun Fun Fun.... i'll be holding off till the last minute like the other years lol.

Powdered Toast Man · 02-07-2007, 04:01 PM

Quote:

Originally Posted by ThundaBird

You are spot on Dave we do the same thing, an extra $30-50 a week gives a tidy 2 grand at the end of each financial year even before legit deductions. Because it comes out of your pay before it hits your bank you hardly miss it.

I was going to do that but my old boss advised me to set up a second high interest savings account. Instead of giving my extra money to the government to hold, I earn interest on it. Sure it's not much on 2 grand but I had over 10 grand in there (just put a slab on my BA loan so it's down to nothing again) and earning $60 a month in interest. Best bit of advice I've ever taken.

Kenaz · 02-07-2007, 04:08 PM

I'll shout myself a Happy Meal. Hopefully I'll have enough change to buy a Chocolate Sunday as well

gtfpv · 02-07-2007, 04:14 PM

Quote:

Originally Posted by davway

well its that time again.
ive already got my tax return planned out.
im getting a new computer + ADSL2, giving the BA a good service, GF and I are both getting our motorcycle learners and possibly will buy a motorbike as well.
so, what is everyone else going to do with their return?

if i get some back, i'll be paying the winter electricity bill, or insuring the el falcon, or paying the rego on the el falcon, or i might get a nice crown on one of my old root canal tooth. only one of these though , the rest i'll have to cover .

XR06T · 02-07-2007, 05:42 PM

have to pay back my $500 bill from last year.. dont think i'll have enough of a return for the whole lot though..

no matter, same as any other week i guess!

svo347 · 02-07-2007, 05:46 PM

paid $44000 to the taxman and i bloody well better get atleast 3000 back!!!!