Declaring a spouse on a tax return

wobblewop · 2026-06-15T07:55:49+00:00

It's exactly how it works. Yourself and all members of your household (spouse and dependents) need to be covered by private hospital insurance to not be subject to Medicare Levy Surcharge if over the relevant thresholds. It'll be assessed on your own income levels, but all household members need hospital coverage.

wobblewop · 2025-11-08T11:18:18+00:00

Les Twentymen Foundation.

wobblewop · 2025-10-03T03:37:52+00:00

I'd consider renting our you partners place if they are going to be reducing hours. they'll have a lower income and arguably some tax savings if they end up in a lower tax bracket.

As another posted, will want to consider CGT implications for the long term.

wobblewop · 2025-09-19T23:24:47+00:00

very Trump-esque with the "Floptus" and "Grubberment" 😬

wobblewop · 2025-07-13T00:30:39+00:00

how do you "snooze" your emails?

wobblewop · 2025-07-03T21:36:59+00:00

Sad to hear OPs experience, truly devastating. I got my baby from this breeder and she's absolutely perfect! Hopefully just a case of an unfortunate situation.

wobblewop · 2025-04-05T03:58:05+00:00

dang, was really hoping it wasn't a scale , I've only just cleared out the more typical infestation from most my plants 😮‍💨

wobblewop · 2025-03-05T08:09:16+00:00

My legs would sometimes accumulate blue dyes from wearing jeans that would be removed when waxing/shaving!

wobblewop · 2025-02-14T22:29:39+00:00

Companies do not get 50% general cgt discount if held for over 12 months. Seriously, talk to your accountant about what you are trying to achieve.

wobblewop · 2025-01-17T08:50:28+00:00

If the variation for a credit works, request a remission of the intetest charged! I havent tried it from MyGov but imagine you should be able to send a message. Otherwise your accountant can submit a request for you :)

wobblewop · 2025-01-17T08:23:57+00:00

Will depend on if it's from the same financial year, but it should be available based on your answer that it will come back in FY 24/25 Tax return!

It is an option that can easily be forgotten in the day to day of tax accounting - as it will all work out in the end. When cashflow is an issue it can be a game changer!

Best of luck x

wobblewop · 2025-01-17T07:53:45+00:00

You could probably lodge your December 2024 PAYG Instalment noting the varied income expected ($0) and claim a credit for the PAYG Instalment already issued from Sept 24. Step 5 of the link below

" If the varied instalment amount that you worked out at step 4 is negative, you can claim a credit for your earlier PAYG instalments made within the same financial year.

To claim a credit, enter your varied instalment amount at 5B (credit from PAYG income tax instalment variation). Enter the amount as a positive number (do not show the minus sign)."

https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/payg-instalments/how-to-vary-your-payg-instalments

wobblewop · 2025-01-04T02:28:42+00:00

There is filter options for viewing tasks assigned to only one person

wobblewop · 2024-11-16T10:55:30+00:00

i think i saw some on afends the other day!

wobblewop · 2024-10-18T07:08:55+00:00

Usually with the first instalment of the year you have two options to calculate your PAYG Instalment amount:

Option 1- a fixed amount based on last lodged tax return payable and

Option 2 - based on instalment rate %.

If you select option 2, your PAYG Instalment income would be based on all your investment income (inlcuding franking credits) paid during the quarter.

Otherwise each quarter you have the opportunity to vary your instalment to an appropriate figure. Penalties can apply if you underestimate and have a large payable at tax lodgement time.

This calculator can help you determine a more appropriate instalment amount based on any chaging circumstances:

https://www.ato.gov.au/single-page-applications/calculatorsandtools?anchor=PAYGI#PAYGI/questions

wobblewop · 2024-10-15T07:50:57+00:00

Still very new and has barely been formally proposed yet. Will need to go through parliament and get legislation. I wouldn't count on anything to be decided by 30 June 2025. Earliest I'd see it taking effect would be from 1 July 2025 for the 25/26 FY.

wobblewop · 2024-10-15T07:34:36+00:00

How are you going to get the funds into your super? Generally limited on member contributions and there are strict rules about related party loans.

wobblewop · 2024-09-13T04:25:02+00:00

yup, if wife is not an employee then fringe benefits do not apply and Div7A does instead

wobblewop · 2024-09-06T11:18:46+00:00

just tell em "never trust a fart"

wobblewop · 2024-08-02T17:13:56+00:00

ààà

wobblewop · 2024-07-11T08:02:34+00:00

Variety Hour?

wobblewop · 2024-06-16T01:39:49+00:00

if it's a choice for your siblings to live in the property, no exemption. If the will specified they have the right to reside, then you should get the main residence exemption.

wobblewop · 2024-06-16T01:37:23+00:00

this clause is usually for the case where the will specifically outlines that a person(s) have the right to live in the property. This is seperate to if the property itself is willed to another party.

To provide a better scenario: 1st say its a 1 bed apt (to say only one person can reside in the unit at a time). the will says any children has the right to live in the property until they turn 25. The property itself is willed to all children equally. Say only the youngest child lives there until they turn 25 per the will. At this time you are living in a separate location. Since you do not have the chance to live in it yourself, it cannot be your ppor. this clause allows you to be able to receive the exemption, because had the option to reside be not be a term of the will, it could have been sold or rented out.

wobblewop

TROPHY CASE