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  1. #141
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    HugsBunny is offline Once upon a time there was a bunny.........
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    Quote Originally Posted by sammyj87 View Post
    Does anyone know when we receive this payment, is it just around tax time? =)
    After tax returns are processed. You need to tell centrelink if you do not need to lodge a return.

  2. #142
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    Quote Originally Posted by CupidsVictim View Post
    Im glad i said something now yes, definitely call the ATO!!

    If you are only making about $100 a month and its a hobby of yours, i would consider it a hobby and not a business for tax purposes (im no accountant but i know plenty of them)

    http://www.ato.gov.au/content/19785.htm

    As a PP also mentioned... Find a new accountant


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    Just to add to this, you can make up to $50,000 a year for things like avon/tupperware etc as they are considered a hobby before you have to apply for abn and pay tax etc so I don't think you would even need to tell anyone about it Misschief.

  3. #143
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    Quote Originally Posted by tasha1984 View Post
    Just to add to this, you can make up to $50,000 a year for things like avon/tupperware etc as they are considered a hobby before you have to apply for abn and pay tax etc so I don't think you would even need to tell anyone about it Misschief.
    Just to clarify tash, as a manager with Tupperware you're made to apply for an ABN as soon as you qualify for your car.

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    Quote Originally Posted by tasha1984 View Post
    so I don't think you would even need to tell anyone about it Misschief.
    I actually was contacted by Centerlink after someone rang the fraud line and tried to "dob" me in. They had told them that I was selling a whole bunch of professional made items and making a killing
    So I was told by CL that I now have to declare my extra income and also needed to make a credit/debit list of all my expenses and errrrr "profits" lol.

    I did like the compliment that my items look professional made

    Anyway, back to topic now I will be searching for a new accountant for sure!

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    Ok I worked 1 night week earned $63 didn't pay any tax on it under the tax free threshold do I have to lodge tax return to get my ftb suppliment

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    When you find a new accountant I'd get them to look at you past returns as it may be worth getting them redone. My dad had to do this a few years back instead of owing about 10k he got a refund of almost 5k.

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  8. #147
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    be careful jugamoe. When I was a student I was earning under $100 a week, so was tax exempt. I didn't have tax taken out of my CL either, and when the two combined they JUST went over the tax free threshold (this was in 2001 - I earned $13000 for the year - threshold was $12000 from memory), so ended up with a tax debt! Just because you're below the threshold while receiving pay, doesn't mean you will be when all taxable incomes combine. Perhaps contact the ATO for a discussion.

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    To the pp who said you can make $50k on avon etc and not declare to ato - I would bet my first born that is wrong. If you have that level of turnover, it's not a hobby.

    I think the $50k is the old threshold to collect and pay gst, not income tax.

    eta:

    links re business versus hobby:

    http://www.smartcompany.com.au/tax/2...0-turtles.html

    http://www.ato.gov.au/corporate/cont...t/00199712.htm

    I also heard on the radio the other day that both the Dept of Human Services and ATO are requesting from ebay the details of sellers with sales of more than $20k pa (so targeting welfare and tax fraud):

    http://www.businessspectator.com.au/...cument&src=rss
    Last edited by MsMummy; 17-06-2012 at 11:45.

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  12. #149
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    We're not doing tax returns this year until we pay off last years, so nothing.

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    Quote Originally Posted by Lily of the Nile View Post
    We're not doing tax returns this year until we pay off last years, so nothing.
    The one good thing my accountant has done, is set up a "pay as you go" for last years tax. So I now pay every month my tax back for last year.


 

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