My family member is prison officer so how to claim maximum
How to claim maximum tax on income over $120k?
K7 on 07/09/2018 - 02:07
Last edited 07/09/2018 - 02:08
Last edited 07/09/2018 - 02:08
closed Comments
She paid 40k tax and in return tax agent was only giving $2500
That may be all they are entitled to.
If you don't have legitimate work expenses, you have nothing to offset your taxable income.
Simple as that.
How much did you expect her to get back?
Around 15%
Perhaps from the troll under the bridge.
Contacting an accountant for tax advice would be a better than random answers from random people on the net.
Depending on what kinda prison, maybe even ask some of the inmates. Learn from their mistakes of course.
$120k for prison officer not bad
There are a number of things you can do but I suggest speaking with a Financial Planner or even a tax agent would be best.
One way is to enter into Property like many people do. That's all I can say.
Should be plenty of financial planners on hand
Do you know how to use “Please” and “Thank You” ?
As a tax accountant I can tell you that $2,500 tax refund on $120k income without any other negatively geared investments is a huge refund.
To generalise, your employer withholds about $100 more than they should if they withhold correctly.
On $120k, to get an additional $2,400 refund, your accountant has probably included $6,000 deductions. If you are a prison officer, once again generalising, your employer would pay most of your costs and apart from laundry you wouldn't be entitled to many deductions.
Just my 2 cents. Be grateful for $2,500 unless you have other circumstances that can decrease your taxable income (which would also mean that you're losing money).
Cheers
Generally spoeaking, if you want to have some deductions, you need to have done something during the year the salary was earned, so it's too late to come up with something now. The Pay As You Go tax system is designed such that the majority of tax payers don't have to pay anything at the end of the financial year, nor are they likely to get much of a return.
If you want some serious comment from folk on here you would need ot give some background… such as, did this person work in a single job for a single empoyer for the entire foinancial year? Is there a requirement to do some job related training for which the employer doesn't pay. Do they have to drive between work places in their own car withour reimbursement from employer (not for home to work, or work to home). Etc…
She paid 40k tax and in return tax agent was only giving $2500
$40k is about 30%, so in ballpark of what you pay in tax.
Welcome to the real world, in this country we pay taxes so you can enjoy many free things
in this country we pay taxes
… to subsidise businesses generating multi-billion dollar profits that avoid paying any tax.
Often the businesses are actually criminal organisations such as banks engaged in massive criminality such as large scale money laundering. I mention banks because the government has specifically legislated that these criminal organisations cannot go out of business as your tax dollars will be used to bail them out if that ever happens.
For some reason the voters don't feel like the chumps they are in this situation and keep voting for the same two parties indicating that it's fine, to keep it going and make it even worse.
Yes we should vote for some clueless extreme leftist party that will put all business out of business.
Say please and close with thank you.
Might as well speak to ATO like thatSounds like op is from a non Western country… if you want people new to Australia to have our same mannerism… you need to teach/show them… not condescend to them
I'm pretty sure if I was to speak in another language I'd miss quite a few mannerism
bs, good manners arent only taught in Western cultures. OP is just lazy or never had the benefit of parenting
are they at a maximum security prison, thats the only way you get maximum tax back.
This question is retarded.
This post and OPs previous post seems like trolls…
earning $3500 a week while not having a clue about social etiquettes,
https://www.ozbargain.com.au/comment/6336836/redirtroll 4 sure
Why… op is young, kinda post I'd expect from a young person
The op sounds like he's from a foreign country, do you think they're automatically taught a lifetime of social etiquette that most of us generally ignore, don't follow ourselves…
If your taxable income was $120k last financial year your total tax payment is around $34,500 (plus an extra $1,500 if you don't have private health insurance, plus any HECS/HELP repayments). You mentioned they earn over $120k and paid $40k in tax so getting back a few thousand sound reasonable.
Do they have any other income or deductions? Just how far over $120k are we talking? Do they have private health insurance with suitable hospital cover? Do they have a HECS/HELP debt? There are too many variables you have not answered to be able to answer this question accurately. You are trolling right?
Alot of people think that tax returns are a year end bonus or something. They are simply a correction on the amount of tax you should have paid. For example, your employer might have withheld too much or too little, you might have incurred work related expenses, you might have made income losses on investments etc. In the ideal world you will only be taxed one amount and that is it, but things change over the course of a year and at the end of the year you do one consolidation which then corrects what you should've paid by either giving you a tax return or tax bill.
tax returns are a year end bonus or something
It was one year, I guess people now expect it every year?
Check with Wesley Snipes? He has good working knowledge of the prison system and tax
As OP didn't provide enough information and the community is unable to provide useful answer, I'm closing this thread.
I think you would be better of asking your tax agent?