I have an ABN number, as I do a little typing for some family friends. I made less than $350 this financial year. Do I need to lodge a return? I already lodged my personal tax return, will I need to repeat that?
The answer really depends on how much is your total taxable income. How much is your income that you declared in your personal tax return? How much is that plus the income ‘under your ABN’? Is the total more than $6000? If so, you will need to ‘amend’ the personal tax return that you have lodged.
You will not be able to ‘amend’ your tax return via etax. You can do it via various tax agent (including H & R Blocks), or by way of writing to the Tax Office. If you have received the Notice of Assessment for your ‘personal tax return’ you’d have the address there to write.
There are other matters you need to consider, such as when you receive certain government pensions, if you are paying PAYG Instalment during the year… etc.
Here is the various list that you can play around if you wish to.
http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=Lodge08.xr4&go=ok
February 1st, 2010 at 11:39 pm
I had the same scenario and yes you have to lodge a return and any other stuff from your business like pens , paper any office equip etc etc even petrol IF you have to travel to clients addresses. If you have an ABN claim your little heart out….I did and got a nice tax return
References :
February 2nd, 2010 at 12:11 am
The answer really depends on how much is your total taxable income. How much is your income that you declared in your personal tax return? How much is that plus the income ‘under your ABN’? Is the total more than $6000? If so, you will need to ‘amend’ the personal tax return that you have lodged.
You will not be able to ‘amend’ your tax return via etax. You can do it via various tax agent (including H & R Blocks), or by way of writing to the Tax Office. If you have received the Notice of Assessment for your ‘personal tax return’ you’d have the address there to write.
There are other matters you need to consider, such as when you receive certain government pensions, if you are paying PAYG Instalment during the year… etc.
Here is the various list that you can play around if you wish to.
http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=Lodge08.xr4&go=ok
References :