When did you actually do your tax last year?

Discussion in 'Accounting & Tax' started by EN710, 9th May, 2016.

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  1. Blueskies

    Blueskies Well-Known Member

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    July, July, July (lodging 31st Oct)

    On a related note I actually enjoy doing my tax return, love getting a summary of the gross and net cashflows for the year. Anyone else as sad as me?:confused:
     
    Blueskies, 9th May, 2016
    #21
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  2. wylie

    wylie Moderator Staff Member

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    I prepared ours in about April 2015 for the year ending 30 June 2015. We made a gain, so had to do some planning on how to best minimise the tax payable. I prepaid rates, interest etc.

    Hubby was due a small refund, and I will be paying tax. Hubby's return went in as soon as it was prepared to get the refund back. Mine is going in this week (or last) and I'm expecting a bill in the mail any day.

    I've done my tax for year ending 30 June 2016 and been to the accountant to prepare for what we need to do and how much interest to prepay before 30 June this year. We will likely lodge early this year if we don't have extra tax to pay.

    I do it all and file it away so that I don't have to revisit so many months after things happen.
     
    wylie, 9th May, 2016
    #22
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  3. EN710

    EN710 Well-Known Member

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    Hahaha same here
     
    EN710, 9th May, 2016
    #23
  4. wategos

    wategos Well-Known Member

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    October, November, October.
    Its a pain, usually I do it late October, even the last day. Sometimes though run out of time and ask for a month extension and they grant it.
     
    wategos, 9th May, 2016
    #24
  5. wogitalia

    wogitalia Well-Known Member

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    This year was planned for May 16th and will be completed, lodged and paid on May 16th.

    Next year will be May 15th (or whatever the due date is). I see no point in giving my money to the ATO a day earlier than I'm legally obligated to do it.
     
    wogitalia, 9th May, 2016
    #25
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  6. datto

    datto Well-Known Member

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    I wonder how many politicians are behind in their income tax return lodgement?

    Tardy politicians should be named and shamed, especially with the election coming up.
     
    datto, 9th May, 2016
    #26
  7. wogitalia

    wogitalia Well-Known Member

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    Given the amount of legitimate deductions they're entitled to include I dare say that most of them lodge fairly promptly to get their nice big refunds, especially when you consider how many negatively geared properties they own on average...
     
    wogitalia, 10th May, 2016
    #27
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  8. D.T.

    D.T. Specialist Property Manager Business Member

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    Early as possible
     
    D.T., 10th May, 2016
    #28
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  9. Azazel

    Azazel Well-Known Member

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    Does Mrs No Mates have any mates?
     
    Azazel, 10th May, 2016
    #29
  10. Scott No Mates

    Scott No Mates Well-Known Member

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    Scott No Mates, 10th May, 2016
    #30
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  11. bbmick

    bbmick Well-Known Member

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    We are doing ours tomorrow arvo - 4pm I believe ;)
     
    bbmick, 10th May, 2016
    #31
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  12. EN710

    EN710 Well-Known Member

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    Happy new financial year :D

    I am just short several details from hubby before we can send summary to our accountant. So far on schedule
     
    EN710, 1st Jul, 2016
    #32
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  13. Perthguy

    Perthguy Well-Known Member

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    Problem: ATO got rid of eTax, didn't they? So I have just have to keep checking every few weeks until the autofill info comes through. Debt might be about $20k so definitely won't be lodging until the last day :p

    "Benefits of lodging with myTax:
    • the most information from your employer, bank and government agencies will be pre-filled by late August, so you’ll have a quicker and easier experience at this time"
    Late August it is then
     
    Perthguy, 1st Jul, 2016
    #33
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  14. Bran

    Bran Well-Known Member

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    Thanks for reminding me. My draft is in my inbox.
     
    Bran, 1st Jul, 2016
    #34
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  15. Azazel

    Azazel Well-Known Member

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    Received all of our end of year statements already.
    Record time.
     
    Azazel, 1st Jul, 2016
    #35
  16. marty998

    marty998 Well-Known Member

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    1. August
    2. August
    3. August

    Waiting on Group certificate (I still call it that haha, and I wasn't even old enough to work when it stopped being called that), Health Insurance statement, and Vanguard tax statement.

    Investment/dividend deductions tallied and entered into myTax, along with rental summaries.


    Should be due a big refund... ACT stamp duty deduction this year :D
     
    marty998, 2nd Jul, 2016
    #36
  17. wombat777

    wombat777 Well-Known Member

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    Last year I had the PAYGV and my tax done in October. It took me a bit of time to find an accountant I was happy with. Until that point I had done my own tax each year.

    This year I had the PAYGV lodged in June. I'll get the ball rolling on my tax in October, however in the meantime have been trying to file/organise necessary info as and when it does come in. I may get the PAYGV varied depending on the depreciation outcome for my next IP.
     
    wombat777, 2nd Jul, 2016
    #37
  18. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    As its now after 30 June her 2016 return is now due by end of October. No exception. Loss of agent concessions is the penalty for lodgements after 30 June. Even if its a refund !!
     
    Paul@PAS, 4th Jul, 2016
    #38
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  19. Scott No Mates

    Scott No Mates Well-Known Member

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    All paid and finalised a little while ago.
     
    Scott No Mates, 4th Jul, 2016
    #39
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