Fiscal year 2017 / 18 is coming to an end. Do the following things to get you more tax rebates.
(Director of Tax Communications) Mark, head of tax Communications at Hor Block? Chapman (Mark Chapman) said the advantage of the move now is that you can get tax rebates soon; if you wait until July, you'll have to wait another 12 months.
What you need to pay attention to:
1, do you work at home?
Even if you only occasionally work from home, you can also apply for home office tax rebates, including:
Heater, air conditioner, electric lamp
Cleaning cost
More than 300 Australian dollars in household office furniture, office supplies, computers, and so on. You can apply directly for less than 300 yuan, such as furniture, computers, hardware and software.
Many businesses will do tax rebate season promotion, this is a good time to buy.
One thing to note: you need to figure out the ratio of merchandise to household, and only the commercial portion is refundable. This ratio depends on how long you work from home and how much space you have in your office.
2. Pay your bill in advance.
If you can pay some bills at once by the end of June, you don't have to wait until the next tax season to apply for a tax rebate.
3, buy a new briefcase
If you buy a briefcase, or a computer bag, a schoolbag, a handbag, etc., you can apply for a tax refund.
4. Put the money in your pension account.
Low-income people (income less than 40,000 per year including taxes and benefits) or spouses without workers can put money into a pension account. A spouse who has a job can deposit up to 3000 yuan with a pension account for the non-working party and receive a tax rebate of 18%, that is, up to $540.
Those earning less than 52,000 a year can also deposit extra money into their pension account, with government saving $0.50 for every extra yuan.
5, first-time buyers
Starting July 1, 2017, first-time buyers can deposit their money in a pension account and then take it out. This would lower the tax rate on pensions to 15%, or higher earners would have a pension rate of up to 45%.
First-time buyers must be under the age of 18, who have never owned the property in Australia and are not for rent for themselves. Must be at least 6 months before the house can live in the first 12 months. You can extract up to $15,000 for a financial year, with a total of 30,000 yuan for all fiscal years.
6. Investment income
If you get a return on your investment by selling shares or otherwise, you'll have to pay part of the tax.
You can avoid taxes by selling off some money-losing assets to offset the benefits of your investment. But Chapman also reminds people that if you just want to sell it before the end of this fiscal year and buy it back in the next fiscal year, the Australian Inland Revenue Authority is "very tough" on this "money-laundering" deal.
7. Charitable donations
Any charitable donation of more than 2 yuan is tax deductible, but you are required to keep the receipt.
8, if you use a cell phone or drive for work reasons
Commercial cell phone charges are refundable. If you keep a 4-week call log and indicate the ratio of commercial to private use, this is applicable throughout the year.
For commercial vehicles, you need to keep and may need to provide driving records, commercial travel records.
Income insurance
If you buy income insurance by 30 June, a significant portion of the expenditure is tax-recoverable. High-quality income insurance usually requires at least one health questionnaire, and there are also blood tests and doctor reports.
10, health insurance
Many health insurance companies update their insurance plans on April 1, most of which increase the amount of insurance and expand the coverage. Now is the time to re-choose an insurance right for you.
11. new state driver mandatory insurance refund
The new state has adjusted its mandatory vehicle insurance policy. If a new state-registered vehicle is owned by November 30, 2017, mandatory insurance is purchased by December 1, 2017. You may get a refund of 10 yuan 125 yuan. You can apply for a refund on Service NSW before Sept. 1, 2018.
Now, don't forget, once June 30, the new fiscal year, the time to apply for tax rebate will be another 12 months.