20 August. Thursday 2015. 2:00 PM.
We get your refund back into your nominated back account .
We get your refund back into your nominated back account.
New Police Recruits dont miss out on all your claims

1. New Police Recruits Tax

what can I claim in my first year after the academy.

Get our free report the most common mistakes Australian Police Officers make doing their own tax

2.Seven(7) mistakes Police Offices make.

Trying to do their own tax via MyGov ATO online.

Watch out for the ATO last date of lodgement without using a tax agent

3.ATO due dates-don't get fined

Tax return for all individuals are due on or before the 31 October 2019.Find out about the key changes this tax time, and what you can do to prepare, and things to consider before lodging tax returns.

if you dont include all your income watch out the ATO radar will find you.

4.ATO Income data matching

Make sure that you include all your salary and bank interest on your 2019 tax return.

You mus follow the ATO substainiation rules and keep all yor tax receipts. Consider our photgraphic tax receipts wallet on your smartphone.
Dont be a bear keep all you tax receipts as proof of claim

6. keeping of tax receipts

Rules for claiming work-related expenses are you must have spent the money and weren't reimbursed the expense.

New Police recruits have lots of tax claims

7.Cannot Claim Private Expenses

The expense must be directly related to earning your income and you must have a record to prove it.You cannot claim for private related expenses.

Private expenses and non deductible tax claims will get you in trouble

8.More.......

Don't forget private expenses are not tax deductible which includes travel frome to work and back again.

Comply with ATO or pay the price.

9.Other

Compliance with the ATO substaintiation rules is important to follow.

PHI is not complusory but if you are singlke and earn over $90,000 ( includes your super) then you might be up for a surcharge. of around $1000
If you earn high in Australia and you dont have PHI be prepared for a penality

6.Surcharge Tax-If no PHI

The Medicare levy surcharge (MLS) is levied on Australian taxpayers who do not have private hospital insurance(PHI) and who earn above $90,000 for singles. and $180,000 for couples combined.It is designed to encourage individuals to take out private hospital cover.

Every Australian except low income eaners pay medicare

7. Who Pays Medicare Levy

The Medicare Levy is a tax paid (usually 2%) by people who earn above a certain amount every year, in order to partially fund Medicare.

Austrlian Private Health Insurance is it really worth it

8.Should I get Health Insurance?

If you don’t get private health insurance by the age of 31 years the insurance companies will probably load up your premiums to adjust for each year you don’t have it. The choice may be made based on adverse tax considerations or simply where you need an urgent medical procedure such as a hip replacement or you may have to go on a public hospital waiting list for a few years.

Get your fair share of ATO rebates

9.PHI Rebates from ATO

Private health insurance(PHI) rebate is an amount the government contributes towards the cost of your PHI premiums for private hospital cover or general cover.This rebate is income tested, at a higher income, your rebate entitlement may be reduced, or no rebate at all.

Other tax matters...........................................
Student education debts can be painful

10.Hecs/Help education debts

HECS-HELP is both a loan and a student discount. Once your income reaches a certain threshold (currently $51,957 for the 2018-2019 financial year), loan repayments are then made through the tax system.

FBT the hidden tax on employee benefits

11.RFBT -Fringe benefits how do they work?

Fringe benefits tax is...........................................

Understanding Salary packaging can be a mine field

12.Salary packaging is it really worth it?

Salary packaging............................................

Superannuation can help your tax

13.Reportable Superannuation what happens if I add extra?

Reportable superannuation..................................

The first thing to do is keep calm and ring your trusted tax agent to discuss. We have a very strict procedure in handling ATO audits and reviews. But Please make sure you have all your tax receipts
Use a tax agent you less likely to have hassles with the ATO

10.Other Audit Matters

Generally, taxpayers get audits because they are choosing by the ATO computers to look at the quantum of total tax deduction claims that are outside the average for your occupation. That doesn't mean that you have done something wrong. You have just been caught up in the ATO algorithm sequence.

An ATO Audit or review both can be stressful

11.What is the Difference between an audit and a review?

A review by the ATO is to look at your claims and consider whether they are all work related and that they aren’t of a private nature. It may be escalated to a desk audit if the initial review reveals something untoward. If you have made a mistake normally the ATO wont penalise you but ask for the tax back. A penalty can be applied if you have been reckless in preparing your own tax.

Use a tax agent that is TPB registered

12.Can a tax agent help with and ATO Audit?

Yes, it is wise to use the services of a tax agent in the event of an ATO audit. A tax agent will know what the ATO expects and will help you get your paperwork and explanations together in an orderly manner.

ATO Non compliance is not a great look

13.What happens if I am not compliant?

The ATO might reverse tax deductions that perhaps should not have been claimed in the first place or may have had an element or portion of a private nature. A deduction is ONLY normally allowable if an expense meets ALL of the following tests: -
1. the expense was actually “incurred” before the end of the income year;
2. the expense meets the deductibility/nexus tests – that is, it was incurred in deriving the taxpayer’s current income and it was not private, domestic or capital in nature; and
3. the taxpayer can satisfy the stringent substantiation rules – that is, the taxpayer has written evidence of the expense incurred (if required). You might have to pay back the primary tax with some interest component.

We have a deduction list of over 600 Police tax items.
Our Tax refunds for Police officers are top notch.
Catch you on the railway stations doing a fine job.