Never had any say Panda I <3 Floods Silver Donating Members 11,198 Member For: 13y 4m Gender: Male Location: South West QLD Posted 01/07/12 06:30 AM Share Posted 01/07/12 06:30 AM Umm.. You registering online for your ABN? You get it instantly if that is the case..The wife and I don't pay our tax on the ABN incomes in installments either.. You don't have to do it that way.. Instead we put 35% of our incomes into a separate bank account then pay it after we do our tax returns. It's not 100% precise.. We generally put more money away then we need but we both are paying tax through normal employment as well. Link to comment Share on other sites More sharing options...
Corzza 777 Member 7,135 Member For: 15y 10m Gender: Male Location: Neutral Bay. Born and Bred in the RSA Posted 01/07/12 06:43 AM Share Posted 01/07/12 06:43 AM Damn it just got very cold in Sydney Link to comment Share on other sites More sharing options...
Shyfrd Turboless Donating Members 5,992 Member For: 13y 9m 3d Gender: Male Location: Geelong, Victoria Posted 01/07/12 07:24 AM Share Posted 01/07/12 07:24 AM Umm.. You registering online for your ABN? You get it instantly if that is the case..The wife and I don't pay our tax on the ABN incomes in installments either.. You don't have to do it that way.. Instead we put 35% of our incomes into a separate bank account then pay it after we do our tax returns. It's not 100% precise.. We generally put more money away then we need but we both are paying tax through normal employment as well.Lol well tell me why they haven't given me an ABN the last 3 times I've applied? Apparently I don't have a business in Australia. Apparently...It's been a bit longer this time round compared to others when I get the letter in the mail saying if I got it or not, so hopefully a different outcome this time..I've got my business name set up and all, so if they reject it again I'm gunna murder someone lol. Yeh I was just reading up on that. Worked out I've earnt $4725 since April 7th (date I became qualified chippie and went to $25p/hr), so 20% of that is about $1k in tax I'll have to pay. A bit less than I first thought so I'm happy. One of the best things about the next job is, if I decide stay on with the guy I'll get put on the books and paid more. So I'm assuming he will do all that stuff, but I'll have to ask him when I start what the actual differences are if I stay as a subbie on my ABN or go on the books..pay, holidays, tax etc etc. My mate who got me onto him said he will look after me pretty well, he's not a dodgey bastard so that's good lol Link to comment Share on other sites More sharing options...
Never had any say Panda I <3 Floods Silver Donating Members 11,198 Member For: 13y 4m Gender: Male Location: South West QLD Posted 01/07/12 07:39 AM Share Posted 01/07/12 07:39 AM Yeah my brother in law is a driller and he had the same deal at first.. Was a subbie just as a probation period really.No idea what's going on with your ABN.. Hope you get it sorted soon.. However since you earned under 5grand in the financial year you can do it tax free provided you fill out a certain form for your boss.. I would look for ya but the ATO website hates iPhones. 1 Link to comment Share on other sites More sharing options...
Shyfrd Turboless Donating Members 5,992 Member For: 13y 9m 3d Gender: Male Location: Geelong, Victoria Posted 01/07/12 08:04 AM Share Posted 01/07/12 08:04 AM Ah k so that doesn't get added to my 4th year apprentice wages?That's awesome if I don't have to pay tax on it lol..if you can find that form when you're on a computer next that'd be great Yep hope I get it soon too. Just checked and it was June 9 I applied so definitely been a week longer at least than the others..Thanks for the help appreciate it Link to comment Share on other sites More sharing options...
XR6menace BANNED Banned 1,462 Member For: 17y 7m 3d Gender: Not Telling Location: banned Posted 01/07/12 08:18 AM Share Posted 01/07/12 08:18 AM NHRA on ESPN just sayin' Link to comment Share on other sites More sharing options...
FPVFGS Member 359 Member For: 12y 6m 29d Gender: Male Location: Mornington Posted 01/07/12 08:52 AM Share Posted 01/07/12 08:52 AM I don't see my tax return getting a good chop lol. New job though this tax year so will have to find out what I can buy to claim back. I'm still a chippie though for a few wks of this month so I might still be able to buy tools and claim them back Still yet to look into new brackets.Oh and need to learn how to do BAS statements. Can't do it though until I get my abn number sent out, farkin hurry up!u can look up your abn number on line even if yours hasnt been sent out yet but your active Link to comment Share on other sites More sharing options...
Shyfrd Turboless Donating Members 5,992 Member For: 13y 9m 3d Gender: Male Location: Geelong, Victoria Posted 01/07/12 09:01 AM Share Posted 01/07/12 09:01 AM Oo interesting..I'll give it a look later and see if its up. Cheers! Link to comment Share on other sites More sharing options...
tab Sucker Moderating Team 32,303 Member For: 20y 7m 6d Gender: Male Location: Brisbane Posted 01/07/12 11:09 AM Share Posted 01/07/12 11:09 AM I really recommend you go see an accountant shy, there's more to it than what you assume. You will have already used-up the tax-free threshold in the wages you've received so don't get too excited.Also they don't just give out ABNs to anyone these days, they are cracking down on exactly this scenario as it's the easy way out for your boss to insist upon you being a sub-contractor instead of an employee. Less work, less money and less worries for him...more headaches for you and no job security. It may appear like you're better off as you are getting more cash up front, but if it seems too good to be true... Link to comment Share on other sites More sharing options...
bossmang FREAKY Donating Members 12,430 Member For: 14y 11m 5d Gender: Male Location: Melbourne Posted 01/07/12 11:12 AM Share Posted 01/07/12 11:12 AM yer shy I was also told its best to at least get some advice from an accountant. sh*t is confusing esp for trades. Link to comment Share on other sites More sharing options...
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