Any of these Prior income tax returns of Gareth are Deductible or not, Reasons and...
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Accounting
Any of these Prior income tax returns of Gareth are Deductible or not, Reasons and evidence (including references to relevant tax ruling/s) according to Australia income tax law
Gareth used the services of his uncle (who is not a registered tax agent) to help him complete his 2021/22 tax return. His uncle sent him an invoice of $660 for the tax return preparation. Gareth paid it on 25 July 2022.
Gareth gave his friend, Neil, a carton of beer (worth $60) for some tax advice about selling some shares during the year.
Gareth paid his 2021/22 income tax liability three months late, so the Australian Taxation Office (ATO) imposed $146 in general interest charges (GIC), which he paid on 2 February 2023.
Addition Information:
Gareth is an Australian resident, 49 years old, he is an employee teacher working for Brisbane Secondary College and has been working as an English teacher since he completed his Diploma 15 years ago. Gareth is completing a Master of Education at Griffith part-time. He attended classes two nights a week during each Semester. He lives with his defacto partner Tracey and they have no dependants. Tracey owns the house at St Lucia and purchased it back in 2013. Tax File Number: 111 222 333
Gareth has supplied the information below relating to his personal income tax affairs for the year ended 30 June 2023.
Gareth wants to use the diminishing value method to calculate any decline in value deduction claims and he does not wish to pool any low value assets.
Gareth is not registered for GST.
Gareth does not have any health insurance.
Gareth does not want to use electronic funds transfer (EFT) if he is entitled to a refund.
Assumed that the details given are all of Gareths receipts and expenditure for the 2022/23 income year, and that all of his expenses are properly substantiated.
Gareth does not have a HECS/HELP debt, nor does he have a financial supplement debt or any post-graduate FEE-HELP debt.
Gareth did not receive any trust distributions.
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