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Posts Tagged ‘return’

Jamie Neale was found alive this morning at about 11.30am by two bush walkers.

After missing for twelve days he is now in hospital where police say he is suffering with exposure and dehydration.

His mother Jean Neale said they never gave up hope looking for their 19 year old son Jamie and she knew he would be coming home one day.

Jean has had a brief conversation with her son and said he sounds tearful and exhausted.

Jamies father was about to return to England when he finally got the good news.

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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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The Tax Office today reminded Australia’s 11.8 million taxpayers to start getting ready to lodge their tax returns.                                                                                                

Tax Commissioner Michael D’Ascenzo said the Tax Office has a range of information and assistance available to help people meet the 31 October 2009 deadline.

“From 1 July, people can prepare and lodge their return online using e-tax, which is free, secure and easy to use software which in most cases processes your return within 14 days.

“As well as calculators, help screens and links to rulings, you can also download information from third parties directly into your tax return, including payment summaries, government payments such as pensions and allowances, bank interest and private health insurance details.

E-tax can be accessed free of charge 24 hours a day, seven days a week from our website at www.ato.gov.au,” Mr D’Ascenzo said.

Government and third party information will be available to download progressively from 1 July. You can subscribe to an alert service within e-tax which will let you know when the information becomes available.                                                                                                                                                                                         ato

People can still lodge using TaxPack 2009 or the short tax return for individuals 2009.

TaxPack 2009 is available from most newsagents, Tax Office shopfronts or the Tax Office website from 1 July.

If you used the short tax return last year you’ll receive a copy in the mail shortly.

Mr D’Ascenzo also reminded people to contact their tax agent as soon as possible.

“If you’re using a tax agent for the first time or using a different one from last year you need to contact them by 31 October 2009,” he said.

“Only registered tax agents can charge a fee to prepare and lodge a tax return.

“However some people present themselves as tax agents when they are not.

“Registered tax agents are regulated by the Tax Agents’ Board and have the qualifications and experience to handle your tax affairs.”

Visit the Tax Agents’ Board website http://www.tabd.gov.au or call 1300 362 829 to check if your agent is registered.

Compliance focus

We cross-check tax returns against a wide range of data including financial institution data, state and territory revenue and property sales information and Australian stock exchange data.

Help and assistance

If people have questions or need assistance they should visit the Tax Office website www.ato.gov.au or phone the Tax Office on 13 28 61 between 8.00am and 6.00pm weekdays.

The Tax Office can provide you a more personalised service if you provide your tax file number when you call.

source  :  www.ato.gov.au

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Bulla ice cream is being pulled from WA supermarket shelves after plastic pieces were found in some tubs.         eggnog-ice-cream

In what it dubs a “precautionary measure”, Regal Cream Products has recalled 2L tubs of its Bulla Creamy Classics – Cookies & Cream flavour with a best before date of October 10, 2010.

No other dates or products are affected by the recall.

Anyone with the specified ice cream should not eat it, but return it to the place of purchase for a full refund.

Retailers with affected ice cream can call Regal Cream Products on 1800 001 332.

Source  :  www.watoday.com.au

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A SET of ancient Aboriginal remains found during a clearout of a house in northern England are soon to be returned to Australia.
Workers stumbled across the two femurs, three skulls and an assortment of other bones while sorting through the Cheshire home of university professor John Kempster, a former Aboriginal Rights Association president, after he moved to New Zealand in 2008.

He had instructed auction house Andrew, Hilditch and Son to clear out his home and sell anything they thought valuable.

“After the removalists finished the clear-out they found a small wooden crate and jokingly said to me they were the dog’s bones in there,” auctioneer Tom Andrew said.

“I said ‘Let’s open it and see what’s inside’ and we found three skulls and one or two other pieces.

“I also found in another briefcase two femurs wrapped in newspaper.”

Not realising that Britain had an agreement with Australia to return indigenous remains, the bones and a selection of weapons given to Prof Kempster while he lived in South Australia in the early 1960s were put up for auction in November 2008.

But after about 20 minutes of frantic bidding, the remains were dramatically pulled from sale after the Australian High Commission telephoned to stop the auction.

A scientist was sent to examine the bones, which were confirmed as being of Australian indigenous origin.

They will be handed over on Thursday to two Ngarrindjeri elders who flew from South Australia to London to collect 16 individual remains held by three museums and the auction house.

Mr Andrew said he was happy to know the remains would soon be on their way to the National Museum of Australia, which will try to determine which indigenous community they came from.

“I’ll certainly be on the look out for more,” he said. “I think there are more around than we think.”

The Liverpool museum has two more sets of remains it plans to return to Australia at a later date.

Further south, the Brighton & Hove City Council has agreed to return two skulls and two femurs for further study in Australia.

However, it is still debating whether to give back a skull modified to be used as a water vessel and which has been stored at the museum since 1925.

www.news.com.au

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