Home Forums Minimising Tax Page 2 of the 2020 Tax Return

last updated by gman3 2 weeks ago
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    • #100010527
      Frank McManus
      Participant

      Hi Mark,

      I bought the Tax Guidance package for 2020.  I am filling out page 2 for inidividuals using Document 6b Tax Return for Self Employed.  This document does not provide any guidance to the question on “Your main salary and occupation” whereas you have been advising us to write “AGENT IN COMMERCE”.

      Similarly, you give no advice about what ABN should be used in paying the $100 to the entity filling out the form.

      Could you or anyone else please advise?

      Kind regards,

      Frank

    • #100010532
      Tahni
      Participant

      I have a question about my Tax return

      I started my own business 3 years ago due to my son having special needs and finding it hard to find a sitter who can deal with him so he comes with me to work until he can go to Steiner kindy.

      Anyhow I have been so busy that I have not done tax return for my business in the 3 years, the whole thing actually scares me lol

      Will I get fined for this?

      I report my income to Centrelink as I do get single parenting payment and now they are asking for my tax return invoice and bank statements etc

      Can they cut my payments off because of this?

      I have earned under the threshold but I still need proof of my tax?

      What can I expect if my bank account and receipts are a mess?

      Like I have no receipts for business spending and my bank account is all over the place lol

      I am sooo scared of doing my tax next week

      Can someone give me some peace of mind on this thanks

      • #100010564
        gman3
        Participant

        I don’t know if Centre link can, but I’d expect them to try. It’s all about compliance. I wonder what they do for people who don’t work? I don’t know if a benefit is a taxable event. I guess you need to decide what is the least uncomfortable thing to do and go with that. If it’s .. I don’t have a job do that. If it’s I’m sorry ATO but I need to catch up on returns do that. They do like to add penalties if they can BUT you can get consideration for circumstances that you’ve been through and have penalties waived or reduced. There are avenues for that. Either directly to them or via an advocacy or VCAT tribunal. What ever the tribunal is in your state that is equivelant. Usually it’s a sit down with a Moderator, an ATO human.. yes there are some.. and yourself. Circumstances can be taken into account. So sell your situation. Child Care, special needs, self employed etc. The ATO might / might not reject them when you put it them first…… So remember, what ever you do or no matter if they try to cause you stress there are checks and balances and avenues available to work it out if they are being unreasonable.  Of course the ideal thing would be no having to engage with them because once you get started you’ll need to follow through until resolved to everyones satisfaction.

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