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Thread: Australia - TAX TIME !!!

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    God/dess GoldCoastGirl's Avatar
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    Thumbs up Australia - TAX TIME !!!

    Just a heads up that now would be a good time to be effective with your purchases so as you can get the tax benefit of it.

    June 30 - end of the financial year!

    Get all those receipts together, organise them month by month, hand them into your accountant in early July... if you get an accountant to do your taxes you have ages until you have to pay (if you owe anything).

    Plus the new tax brackets come into effect after June 30!! Less tax (or for me the same just means if i earn more I don't get taxed more) and no having to worry about GST (for me at least).


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  2. #2
    aussiepunkshocker
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    Default Re: Australia - TAX TIME !!!

    God,I havent done last years yet. Ive bought it all with me. I did this the previous two years too, carrying aroundabout 5 kilos of paperwork for 18 months sigh, gah!
    It should be so easy this time though cos ive had so much time off and with Sydney being so bad for so long theres much less to add up, lol.

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    God/dess Lysondra's Avatar
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    Default Re: Australia - TAX TIME !!!

    This is going to hurt. :/


    Edit:
    And loookeet here... GST.

    *signs up*


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    God/dess jaizaine's Avatar
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    Default Re: Australia - TAX TIME !!!

    As this will be my first financial year as a dancer can anyone give me a rough estimate of what I might have to pay? Is it very unlikely that dancers would actually get a refund? I dont care about a refund I just dont want to have to pay much.

    I have worked for 7 months now and I have kept receipts and records of my expenses which range from $200 - $1000 per month for dancing related expenses such as house fees and costumes.

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    God/dess Lysondra's Avatar
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    Default Re: Australia - TAX TIME !!!

    How much you have to pay depends entirely on how much you made, your marital status, your deductions...


    Look like a woman
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    - My Great Grandmother Bessie's Recipe for Success

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    Default Re: Australia - TAX TIME !!!

    See the FOR AUSTRALIANS thread here in Dollar Den.

    Otherwise, you declare your income, minus all legitmate deductions and you are taxed on the remainder.

    Now remember, we aren't in the new tax brackets until the new financial year. Once again, I posted about the old and new tax brackets in FOR AUSTRALIANS (see more recent posts).

    So whilst I can possibly earn $50,000 per year I may only be taxed on $20,000 of it because of all my legitmate deductions etc.

    Get a good accountant. Find out who other people are using for their taxes.

    And remember, you do NOT need a local accountant! Lot of people these days use accountants who are not in the same state... that's where email and phones come into play. There is no need to have a local accountant unless your local accountant is decent.


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  7. #7
    mermaidnz
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    Default Re: Australia - TAX TIME !!!

    ^^ can you not have too many deductions? cos i actually stopped saving reciepts cos i thought i had too many deductions, and it would look suss.

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    God/dess jaizaine's Avatar
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    Default Re: Australia - TAX TIME !!!

    Can anyone recommend a good accountant who is experienced with doing dancer's tax returns?

    Someone gave me the details of one on this forum a while ago but I can't find it.

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    Featured Member flickad's Avatar
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    Default Re: Australia - TAX TIME !!!

    I'm not looking forward to dealing with my tax return (it was horribly embarassing explaining to the university accountant last year that I'd been a stripper, and now I get to do it again, since I danced for a bit earlier in the year), but I'm glad I've been organised and kept track of all my earnings.

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    Featured Member flickad's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by jaizaine View Post
    Can anyone recommend a good accountant who is experienced with doing dancer's tax returns?

    Someone gave me the details of one on this forum a while ago but I can't find it.
    I just used the accountant at uni last year. I used to know a dancer who was also an accountant, but the phone I had that had her number in it has unfortunately been stolen, and she's now left the industry (so I've got no idea where to find her). If, on the off-chance, I do bump into her again, I can grab her details and chat to you on msn about it.

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    God/dess jaizaine's Avatar
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    Default Re: Australia - TAX TIME !!!

    I have very mixed emotions about declaring my income as a dancer due to my future career. But I decided that being traceable as a dancer is better than having a record of tax evasion - that is a definite reason for being denied admission to practice. (Sorry for threadjack).

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    God/dess jaizaine's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by flickad View Post
    I just used the accountant at uni last year. I used to know a dancer who was also an accountant, but the phone I had that had her number in it has unfortunately been stolen, and she's now left the industry (so I've got no idea where to find her). If, on the off-chance, I do bump into her again, I can grab her details and chat to you on msn about it.
    thanks that would be awesome.
    i wonder if monash offers a uni accountant

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    Featured Member flickad's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by jaizaine View Post
    As this will be my first financial year as a dancer can anyone give me a rough estimate of what I might have to pay? Is it very unlikely that dancers would actually get a refund? I dont care about a refund I just dont want to have to pay much.

    I have worked for 7 months now and I have kept receipts and records of my expenses which range from $200 - $1000 per month for dancing related expenses such as house fees and costumes.
    I didn't pay anything last year, due to both an accountant who helped me with deductions and the fact that I'd been on (and paid tax on) Newstart for the half of the year that I wasn't dancing. If you've had a straight job or been on a Centrelink payment this year, it will, to some extent, cancel out your tax liability since you'll likely be due for a return if you were paid minimum wage or paid tax on your benefit.

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    Featured Member flickad's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by mermaidnz View Post
    ^^ can you not have too many deductions? cos i actually stopped saving reciepts cos i thought i had too many deductions, and it would look suss.
    Nope, save everything possible, was the advice I got given.

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    Featured Member flickad's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by jaizaine View Post
    thanks that would be awesome.
    i wonder if monash offers a uni accountant
    I'm not even sure that the one at LaTrobe's survived VSU. It's something I'll have to check out. If not, I'll probably go to H&R Block. They do tax returns for a bit over $100, which doesn't seem too unaffordable. I went to them the year before last, but I only did straight jobs that year, so it was an easy return.

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    God/dess jaizaine's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by flickad View Post
    I didn't pay anything last year, due to both an accountant who helped me with deductions and the fact that I'd been on (and paid tax on) Newstart for the half of the year that I wasn't dancing. If you've had a straight job or been on a Centrelink payment this year, it will, to some extent, cancel out your tax liability since you'll likely be due for a return if you were paid minimum wage or paid tax on your benefit.
    I started in Nov and before that I was working casually at a straight job but only making about $200 per fortnight.

    From nov to jan I did not keep any records of my earnings. AHhh I so regret that now. I initially thought I would not dance for long so I didn't bother.
    Then in Jan I decided I would stick at it so I only have accurate records of my earnings from then.

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    God/dess GoldCoastGirl's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by mermaidnz View Post
    ^^ can you not have too many deductions? cos i actually stopped saving reciepts cos i thought i had too many deductions, and it would look suss.
    That is up to your accountant to determine not you. If you have a great accountant, they will know what exactly you can claim a legitmate deduction upon and what you cannot and what percentage for other things etc.

    ALWAYS ALWAYS save your receipts if it has ANYTHING remotely to do with how you earn income.

    Do not go to H & R Block!!!!

    You need to ring around and email people to find out if they have any experience with dealing with someone who is self employed in a cash based industry - the fact that you are a stripper shouldn't enter into the equation.

    Also if they ask which industry, we are classed under the Personal and Other Services Industry. Plus on my tax returns I'm an ENTERTAINER and that's it.

    I do my taxes etc via PKF in Southport. They have branches all over the joint... you can inquire with them if you so wish in your own home state? http://www.pkf.com.au/


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    God/dess jaizaine's Avatar
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    Default Re: Australia - TAX TIME !!!

    Quote Originally Posted by GoldCoastGirl View Post

    Also if they ask which industry, we are classed under the Personal and Other Services Industry. Plus on my tax returns I'm an ENTERTAINER and that's it.

    I do my taxes etc via PKF in Southport. They have branches all over the joint... you can inquire with them if you so wish in your own home state? http://www.pkf.com.au/
    thank-you

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