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84 year old femail e mail dkwilliams117@yahoo.com

2007-02-16 10:19:13 · 2 answers · asked by dkwilliams117 1 in Business & Finance Taxes Australia

2 answers

This is very vague and I assume the following:
1) you are on welfare
2) you do not have exempt income.
3) You have some other income possibly from super or shares
4) you are not a beneficiary of a trust.
I would suggest the following:
1) Welfare payments are subject to tax
2) The tax free threshold is $6000 and any amount of assesable income obove that is subject to tax.
3) welfare benefits exceed the threshold but certain rebates for beneficiaries/low income earners cancel out the tax on the welfare excess.
4) shares are sometimes "franked" that is had tax pais at the company rate and that rate is higher than an individuals on low income so if fully franked (full tax paid) would prbably generate a refund.
5) Super is subject to complex legislation but is usually taxed concessionally and if this is the income that you are thinking of I suggest that you see an accountant as a lot more info would be required and it is not appropriate to provide that info any body over the internet or anyuone who contacts you via email.
I dont think that you are likely to run into any huge tax problems but be very careful talking about personal info over the internet and for that reason I really think that you should start with a call to the ATO and see if they can offer more assistance or otherwise see an accountant for advice.

2007-02-17 23:41:03 · answer #1 · answered by magpiez 5 · 2 0

$9,700 for wages. $400 for Self-Employment income. $850 for unearned income such as dividends and interest.

2007-02-16 18:44:04 · answer #2 · answered by Bostonian In MO 7 · 0 0

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