Tuen's Blog

Infrequent diary of a procrastinator

Australian Tax submission time

Written By: admin - Aug• 17•07

I’ve finally gotten round to downloading this year’s tax software for online submission. The Australian tax system is a pretty amazing animal. It’s so complex that an entire industry has grown up around it to basically try and help the tax payer to avoid (legally) paying more than necessary. There are so many rules and regulations and conditions that the average tax payer will most likely end up paying a lot more than he or she legally needs to, with the proper advice and strategies.

In Singapore, it used to take me at most an hour to do my income tax and submit it online. Over here, it takes me a few weeks! Of course, I don’t work on it constantly, but that’s one of the problems with such a complex system; it’s not possible (at least in my case) to finish it in one sitting.

But having said that, I guess it can’t be helped, when the system also provides tons of benefits to all classes of residents. I’m one of the beneficiaries, with my 6 kids, of their family tax benefit, so I try to remember this benefit when I’m grumbling about doing my tax forms! :)

I’ll post again when I finally submit the online tax. Let’s see how long it takes me this year.

The extract below is probably just 1/100th of what you need to know to understand the tax system fully. If you’re a masochist, you might want to visit their site here: http://www.ato.gov.au/

image001.png

Click the pic above to see a clearer rendition.

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>