2009 Tax time is here

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.                                                                                                                                                                                        

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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Important things to do when you have arrived in Australia

APPLY FOR TAX FILE NUMBER TFN

You will need to do this to work and receive a salary.

REGISTER WITH MEDICARE

You will need to do this 7 – 10 days after your arrival.  Private health care options are available as medicare does not provide cover for all services examples Dental, Optical and Ambulance.

OPEN BANK ACCOUNT

Most salary wages and government benefits are paid into a bank account.  You only need your passport as identification.

REGISTER WITH CENTRELINK

Centrelink can help you find a job.  It can also help with family assistance payments to help with the cost of raising children.  As newly arrived migrants you are not always eligable for these services, also depending on your visa entry.

ENROL CHILDREN IN SCHOOL

It is Australian law that children must attend school up to the age of 15 years of age.

APPLY FOR DRIVING LICENCE

In Perth an eyesight test is required.  Please look on the www.dpi.gov.au website as there are changes depending on your visa entry.

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Big Penalty for not giving tax file number

People who do not provide their tax file number to their superannuation fund before July 1 will be penalised with a 46 per cent tax rate on any money which their employer contributes to the fund. 

 Superannuation contributions are normally taxed at 15 per cent and the extra 31.5 per cent penalty is designed to encourage people to provide the tax file number, making it easier to consolidate superannuation funds in the future. 

 The tax file number may also be necessary if you want to make extra top up payments or spousal contributions, depending on the type of fund.

  Basil Palassis, chartered accountant and senior financial planner at Fusion Planning Group, said it was important for the public to understand risks and penalties associated with their superannuation funds, because there were big financial  the ramifications. 

News from www.thewest.com.au

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