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Businesses can claim an additional tax deduction when they buy certain assets, and when they spend money to improve existing assets, for a limited time. It’s called the Small Business and General Business Tax Break – ‘business tax break’ for short.

The Australian Government announced the tax break as an ‘investment allowance’ in December 2008 aimed at helping businesses meet the challenges of the economic downturn.

The government later extended this tax break in the May Budget to allow small businesses to claim a 50% tax deduction on eligible assets bought by 31 December 2009.

Source  :   www.ato.gov.au

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Get your visa, get registered and get in line for once-in-a-generation fares.                                                                            surf

To be in with a chance to become a £10 Pom you need to follow these simple steps and you’ll soon be on your way.

1. Get yourself a Working Holiday Visa
The £10 Pom fares are intended for people who are serious about having one hell of an adventure on a working holiday in Australia, so you will need to have a Working Holiday Visa to be eligible. You can apply for a visa at any of STA Travel’s 44 branches, or click here to buy it online.
Eligibility: You must be a UK passport holder aged between 18 and 30 years old inclusive.

A working holiday visa allows you to live and work in Australia for a period of 12 months. You can work for one employer for a maximum of 6 months, so it gives you time to travel around Australia topping up your funds as you go.

There are all sorts of jobs available so you will definitely find something to suit you. Click here to see what kind of roles are on offer right now.

To make it even easier for you to get your working holiday visa sorted in time we’ll also be sending our Mobile Visa Van around the country throughout July. Click here for schedule and pics!

2. Register online
It’s not essential to register online, but we suggest that you do. It means that you’ll be eligible for one of the 5 extra ‘golden tickets’ to be drawn once the first 145 £10 fares are sold out.
Click here to register now.

You’ll also get some exclusive gifts when you book with us on the 5th August whilst stocks last. Be first in the queue to get your hands on the newly released Rough Guide worth £16.99! 
Click here for more info on the exclusive gifts.
 
3. Get to one of our selected promotional branches by 8am on Wednesday 5th August.
There will be eight special STA Travel branches around the country selling the £10 fares on the day. They will be the only branches where you can get them and once they’re gone, they’re gone. So line up, camp out, rent a flat next-door … do whatever it takes to make sure you get there before they are sold out.

The branches are:

Belfast, 92/94 Botanic Avenue BT7 1JR
Birmingham High St, 222-224 Corporation Street B4 6QB
Bristol, 43 Queens Road BS8 1QQ
Glasgow, 122 George Street G1 1RF
Leeds, 88 Vicar Lane LS1 7JH
London Victoria, 52 Grosvenor Gardens SW1W 0AG
Manchester, Albert Square 86 Cross Street M2 4LA
Southampton, 6-8 Civic Centre Road SO14 7FL

Source  :  www.statravel.co.uk

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  • Last-minute tips to save on tax
  • What to claim, how to file
  • Plenty of help on ATO website

HAPPY New Year! Well, almost. With only 24 hours left until the end of financial year, what should you be doing today to ensure that you don’t end up with a big tax hangover tomorrow?

“Don’t forget to pay your expenses,” says Tracey Nicholson, the Assistant Commissioner of Taxation.

“Ensuring that expenses are paid and claimed in the correct tax year can save a lot of headaches in having tax returns amended down the track.”

Ms Nicholson suggests that some top-priority things for taxpayers to do prior to lodging their return include:

• Go surfing! The ATO website, that is.

“There is a wealth of information on the ATO website, both general as well as information that’s specific to various professions,” says Ms Nicholson. “It’s a great place to start your research on what you may be able to claim as a deduction.”

• Spring clean the house to find your receipts.

“At the end of the day you need to keep your receipts to substantiate your claims,” says Ms Nicholson.

• Lodge online.

If you are DIYing your tax, Ms Nicholson recommends the online e-tax process as a great way to complete your return.

“It’s free, and has a great step-by-step process that will help remind you of anything that you have forgotten,” she says.

It can be worth getting professional advice as well though. Bill Keays, founding director of WA-based Hales Keays Chartered Accountants says that in his experience there are a number of tax-related benefits that people sometimes overlook.

“Motor vehicle expenses are often overlooked,” he says.

“You can claim up to 5000 kilometres of work-related use based on a reasonable estimate of business kilometers, without needing to keep a log book. But some people think that if they haven’t kept a log book, they can’t claim.”

Another forgotten area, according to Mr Keays, is depreciation on a rental property.

“Sometimes clients are not aware of how much depreciation they can claim,” he says.

“For taxpayers who have a relatively modern rental property, engage a quantity surveyor to prepare a depreciation report. They will typically save you many times more than their fee due to the deductions they identify.”

But lest you get carried away with all the potential deductions out there, remember that you do need the paperwork to back it up.

“We conduct plenty of audits,”says Ms Nicholson.

“We’re going to have a special focus on truck drivers, sales and marketing managers, sales reps and electricians this year – but any taxpayer has the chance of being audited.”

And while it may be too late for this financial year, consider getting some professional advice for next year’s tax return because sometimes you don’t know what you don’t know.

“There’s usually always some way in which we can save clients extra money, either by identifying deductions or simply getting their tax structures right to start with,” says Mr Keays.

“The Small Business CGT concessions are a great example.

“One of my clients was expecting to pay capital gains tax of approximately $240,000 when he disposed of his business and he ended up paying nothing by applying these concessions.”

Your tax time checklist                                                                                                                                                                                           

To help you get the best tax return possible, here’s a few things to tick off your “to do” list today:

1. Are you eligible for the Superannuation Co-contribution? If so, it’s up to $1,500 of free money.

2. If you use your car for work, don’t forget to estimate your motor vehicle expenses.

3. A 20% tax offset is available for out of pocket medical expenses over $1500.

4. Donations of over $2 made to a deductible gift recipient are tax deductible.

5. The cost of having your tax return prepared is also an allowable deduction.

6. Income Protection insurance premiums can also be a tax deduction.

7. Small business owners who are selling business assets can take advantage of extremely generous “small business CGT concessions.”

8. You can claim up to $300 of work related expenses without the need to have written receipts. However once your claim exceeds $300 you must have receipts for the full amount.

9. Don’t forget all those miscellaneous work expenses such as union fees, seminars, trade journals, software and home office expenses. Even an appointment diary can be deductible.

10. Check the deductions fact sheet for your specific occupation to ensure that you are claiming everything that you are entitled to.

Source  :   www.news.com.au

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If  you have got the right qualifications then why not nurse your career back to health by getting a nursing job in Australia.   work in oz

If you are a registered nurse/midwife  or enrolled nurse  who has been employed previously in the Australian nursing workforce, but you have not worked as a nurse/midwife in Australia for 12 months, you may be eligible for cash bonuses to encourage you to come back to work in a public or private hospital, or residential aged care home.

If you are not located  here then why not come and join the thousands of others making the move Nursing in Australia.  

Firstly, decide whether you want to make the move a permanent one or temporary.  Spend time finding information on where you want to settle in Australia.  Once you have made your decision you will need to choose the right visa for you.

Whether you have a high level of skills and experience or need to gain additional skills, there is a visa to suit you.  There are excellent career opportunities with permanent and temporary work available in Australia.  You can be in or outside Australia when you apply for a visa to work as a nurse.

Applying for a visa through a migration agent make sure the agent is registered with MARA.

http://www.health.wa.gov.au/home/   The government website has job vacancies in Perth.

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The Education Tax Refund (ETR) is a new government initiative to help with the cost of educating primary and secondary school children. It means eligible parents,tax refund carers, legal guardians and independent students could get 50% back on some education expenses. This includes items like computers, educational software, textbooks and stationery.

Most people are eligible for the ETR because they receive Family Tax Benefit (FTB) Part A. However, there are some payments that prevent you from receiving FTB Part A, but which still entitle you to receive the refund. You can also claim the refund if you are an independent student.

You can claim the ETR each financial year for children in primary and/or secondary school, or if you are an independent student. You will be able to claim the refund from 1 July 2009 for the 2008/09 financial year. This means you can claim for items purchased from 1 July 2008. Remember to keep your receipts as they will help you calculate your entitlement and you may be required to produce them as proof of purchase.

You can claim the ETR even if you are not required to lodge a tax return.

For more information, see  http://www.educationtaxrefund.gov.au/about-the-ETR/

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Sarah MacPherson, Melville

Sarah has a 19-year-old daughter living at home, and is in the process of starting up a technology-based business.                 single mother
 
What Sarah wanted:
Measures to help vulnerable in society, such as pensioners, carers and single parents;
. Increased taxes on cigarettes and alcopops;
. Stimulus packages for small startup companies;
. Maintenance of the First Homeowners Grant boost;
. Investment in education;
. Dumping of the GST charged on sanitary products.
 What she got:
. Increased pensions – by $32.49 for singles and $10.14 per couple.
. The pension age lifted to 67 between years 2017 and 2023.
. First Homeowners Grant boost to remain until September 2009, but to be halved after that.
. Opening up university places for additional 50,000 students over four years from next financial year.
. $437 million over four years to boost number of disadvantaged students at university.
. A 50 per cent small business tax break for eligible capital expenditure.
Her verdict:
“I suppose the first word that came to mind was ‘predictable’,” Sarah said.
 
“The rise in pension age means many of the battlers will have to battle a little longer.
 
“But if you look at the current global economy, they probably haven’t done too badly – they can’t please everybody”

www.watoday.com.au

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