PPRuNe Forums - View Single Post - tax time
Thread: tax time
View Single Post
Old 17th Oct 2009, 01:54
  #13 (permalink)  
Cravenmorehead
 
Join Date: Apr 2002
Location: Australia at the moment
Posts: 177
Received 1 Like on 1 Post
It's only a worry if they audit you and catch you claiming something that is not ridgy didge.
Be careful keep records and receipts and don't be greedy. They look for sudden increases in claims or sudden decreases in income. If a flag appears then they may audit you. Sometimes they target specific professions, ie taxi drivers, Doctors. I have had two. Got away relatively unschathed on both of them. I got pinged for claiming the Friday Australian as a periodical, and a PO Box address. I Had to pay a small fine; a percentage of the claim I think. If I had been really over doing it. Not had receipts, that I had to show by the way. Then I would have had my affaris for I believe the last three years looked at. It was a monumental pain and very time consuming.
The other one was when I was a VRF joy flight pilot in the centre and I claimed my Instrument rating. The firm had a 402. They queried it as it was a claim of I think $3000.00, a lot back in 1985 and considering I only earn't $18,000 they flagged it as an anomoly. I had to write a letter explaining the details, and about a month or so later got a cheque in the mail. They paid the claim. On both occassions I had reputable firms behind me.

A lot of friends of mine used to rave about how good this one Accountant was. She ended up in jail and everyone of her clients got audited. So beware of imaginative accountants. Any of the larger firms that are registered can do Pilots tax, it takes no special person to look after a straight PAYE claim.
Craven
Cravenmorehead is offline