User:Taxreturnsmelbourne

Individual Tax Returns Melbourne: Taxation is a hard nut to crack for a lot of individuals and they try to run away from it but if you keep few basic things in mind, it will help you do your tax planning and prepare for your tax returns. If you are working as an employee, make sure you keep a receipt of every expense you incur for work purposes like uniform, protective clothing, log book if you use your car for work purposes, if you work from home e.g. even checking work emails from home you can claim a part of your internet expenses from home, telephone etc. Most of the times you are entitled to these deductions but are just not aware of it. Below are the income tax rates for 2011-12 year. If you are working as a sole trading and your assessable income is more than $80,000.00 you might want to think about registering as a company as you will be paying a rate of 30% and saving some on tax. Tax rates 2011-12 (Medicare Levy of 1.5% is not included.) Taxable income Tax on this income 0 - $6,000 Nil $6,001 - $37,000 15c for each $1 over $6,000 $37,001 - $80,000 $4,650 plus 30c for each $1 over $37,000 $80,001 - $180,000 $17,550 plus 37c for each $1 over $80,000 $180,001 and over $54,550 plus 45c for each $1 over $180,000