Tax Tips презентация

purposes

parents, helping to navigate, these uncertain waters can be challenging…
But it doesn’t have to be…

from stress this end of financial year

has been withheld is to lodge a tax return.

Tax can be withheld from your pay, and any interest income you earned during this financial year if you have NOT provided your tax file number (TFN).

contractor… (including tips).

Investment income from bank interest or dividends on shares received.

Distributions from a family trust or partnership.

Government payments received such as Austudy & youth allowance, including any grants or awards.

at a higher rate…

The types of income this applies to are:

Income received as a beneficiary from a trust

Interest, dividends, rent & royalties

some expenses related to the income you received.

But remember you must have the necessary receipts or credit card statements.

Uniforms
Protective clothing
Related mobile and internet costs
Subscriptions
Union fees

Newstart Allowance, youth allowance or other government education payments, you may be eligible for a beneficiary offset. This ensures you won’t pay tax on those payments.

skills in your current job, you can claim self education expenses!

These include:

Course books
Text books
Stationery
Student union fees
Depreciation of assets like computers & printers

6. Identify self education expenses!

once you earn over $51,308! (for year ending June 30, 2014.)
The specific amount required to be repaid will depend on many factors including your taxable income.

institute for six months or more, you WILL be regarded as an Australian resident for tax purposes.

That means you will pay the same tax rate as other residents and have access to the tax free threshold.

You are only entitled to a pro rata tax-free threshold if you are only an Australian resident for part of the year.

CPA Australia.

These tax tips are for students who are Australian residents for tax purposes for the year ending June 30, 2014.