Which Financial Year I Should Log My Tax Refund

• 

  Hybroid on 21/09/2022 - 00:17

  +7

  I don't know the answer to your actual question but I would imagine it gets logged in the year you incur the expense.

  However, I would question whether you're liable for the full $2,000 or a pro-rata based on number of months to go. That's usually what applies when companies pay for training.

  So in theory, you should be asked to pay back 5 outstanding months (Oct to Feb) worth which is $833.

• 

  jv on 21/09/2022 - 00:45

  -2

  Should Log My Tax Refund

  Tax refunds are not taxable.

• 

  jv on 21/09/2022 - 00:46

  +13

  Do you guys think I should lodge it for the last financial year?

  You don't get to choose.

  Eligible expenses are lodged in the period you pay them.

  • 

    bemybubble on 21/09/2022 - 06:57

    This is correct op. Individual returns are on a cash basis

• 

  jv on 21/09/2022 - 00:49

  +12

  they will deduct the cost from my salary.

  How will you claim it if you haven't paid for it?

  Your salary will be reduced so you will be paying less tax anyway.

  You can't double dip.

  Based on your lack of knowledge in your comments, you really need to see a tax accountant to do your tax.

  • 

    elgrande on 21/09/2022 - 06:11

    Here here

    • 

      pjetson on 21/09/2022 - 08:10

      Where where?

      • 

        smurftastic on 21/09/2022 - 08:44

        There there

  • 

    netjock on 21/09/2022 - 09:32

    Your salary will be reduced so you will be paying less tax anyway.

    This.

    Because it is deducted from your pretax salary and reduced PAYG withholding (and final tax) you actually have paid for it out of pre tax.

    You can't double dip.

    If you claim it again then you are double dipping.

  • 

    ESEMCE on 21/09/2022 - 09:49

    OP has not specified, but I would assume it would be deducted from his/her after tax salary, therefore not double dipping and therefore claimable as a training expense just as if OP had been paid in full and then transferred money to the training organisation (in the year the OP "pays" for the training).

• 

  holdenmg on 21/09/2022 - 02:39

  Have you talked with https://www.fairwork.gov.au/about-us/contact-us about this?

• 

  Seraphin7 on 21/09/2022 - 09:37

  Will the employer be deducting the cost from pre-tax or post-tax income?

  If the deduction is from pre-tax income, you'll have no eligible claim in your tax return.

  If from post-tax, you'll need to ensure you have requisite paperwork to substantiate your claim (if you have to).

• 

  stralya on 21/09/2022 - 09:45

  +2

  Most of these clauses on clawing back payments for training are non-enforceable. My last employer tried to deduct $3000 from my final pay, but I sent an email to payroll and they quietly reversed it. In my case, I asked them to provide proof (tax invoices) to show that they paid the $3000 specifically for me. I guess they couldn't be bothered digging up the documentation, so they reversed it. I also knew that $3K was the full (retail) price of the course, and the company probably got a discount

  • 

    CrowReally on 21/09/2022 - 10:07

    They're tedious for employers to apply and socially awkward for everyone involved but they aren't non-enforceable.

    It's written right there in the contract that you signed. Just like the other things in your employment agreement, they are very enforceable.