Questions about Income Tax

This article lists some additional Questions we have received from our clients which I hope you might find helpful.

Do I need to bring my partner with me to complete my tax return?

  • There are however several rebates that are now based on the family income and as such your partner’s income is required.

Can you complete my tax return if I am missing a PAYG Payment Summary (group certificate)?

  • Your return can be completed using the details from a copy of the PAYG Payment Summary which your employer should be able to provide, a letter from your employer detailing the PAYG Payment Summary information or by collating your pay slips for that period and completing a Missing PAYG Payment Summary.

I received an additional PAYG Payment Summary (group certificate) after I completed last year’s tax return, can I put it in this year’s?

  • No, a PAYG Payment Summary from a past year cannot be included with the current year tax return. It can only be included in the return for the year that it relates and as such you will need to submit an amended tax return for the year in question.

My mother has died. Do I need to complete a tax return for her?

  • Yes it is necessary to complete a tax return to the date of death if the individual has lodged in past years. This return will be identified as final showing all income to the date of death.

I am three years behind in lodging my tax returns. Will I get into a lot of trouble?

  • You should lodge any outstanding tax returns as soon as possible.  The Australian Taxation Office can take various forms of action including penalties and interest charges.  Once they have begun action it may result in a court conviction.  We specialise in lodging multiple tax returns and have done so for many clients.  Please contact us and we will be able to work through the multiple tax returns and get them lodged.

I have been married during the year. What effect does this have on my tax return?

  • If you married during the year you will need to know the taxable income of your spouse to ensure all rebates based on family income are calculated correctly.

Can I claim the maintenance I pay my ex-wife for my children?

  • No, maintenance payments are not a deduction.

How long do I need to keep my receipts?

  • You need to keep your supporting documents for five years from the date of lodgement of the tax return in which the claims are made.

Can I put all the bank interest my wife and I earn into my wife’s tax return as her income is lower than mine, even though our bank accounts are in both our names?

  • No, all interest earned must be split between each recipient on the same basis as the accounts.

Can I just claim $300 of deductions as this does not have to be substantiated?

  • No you can’t just claim $300. You may not need receipts below $300 however you must have spent the money and it also must be relevant to your employment.