My name is XXXXX XXXXX X am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question.
I settled but only if he paid the taxation on that amount, I thought it would be easier at the time and wanted it settled as soon as possible...
the amount I got taxed... he actually adjusted my PAYG Summary to stipulate that I earnt $79, 419 dollars in one year instead of my original taxable income for that year being $59,419. my amended tax on my net income ended up being $14,975.70 because of that and the bill I got was $4,354.68
oh and yes I have the agreement, and am getting more paperwork tomorrow from FWO.
I have been billed the taxation amount, I did my taxation return this year and had only been working for my employer for half a year meaning I got a good taxation return, thing is that that amount that he was meant to pay wants paid by him, and I have been taxed the whole of my refund which was $2654.18. The bill I received was $4354.68 (because he didn't pay the taxation on the amount owed) so my refund minus the 4 grand leaves $1700.00 or so still to be paid... this is the outstanding monetary amount that I owe.... I had my refund taken off of me, I still have an outstanding bill for $1700 due to him not paying the taxation on the 12 grand.
the original amount he owed me was around $23,000.
I settled on $12000, $1000 per month for 12mnths until settled. I Settled on $12,000 as long as he paid the taxation on that amount, thus the $12,000 only. I was told I wouldn't need to pay the taxation on that amount now as he was paying it.
I then got a bill after doing my taxation this year for a monetary amount owed to do with the taxation of the amount he was meant to pay for me.
I don't understand why I need to pay for the amount when hes meant to have paid it for me.
I am getting billed for the amount that he was meant to pay. I settled on less as long as the tax on the $12,000 was paid for.
When I did my taxation originally for the year 2012, I claimed that I earned 59,419 for the year. He has input a summary stating that I earnt 71,419 for the year. Making the difference $12,000. My issue is that whilst he has claimed that amount through my payment summary, I have hadto pay for it tax wise, when he was meant to pay the tax on that, not me.
Yeah I understand... and that was my acceptance in the beginning. I would only accept the $12,000 if he paid the taxation on that amount, ONLY if he paid it.. I got that money tax free as he was paying the tax on it... You are correct, I did not declare it as I didn't think I hadto due to the tax already being paid on the amount he owed me.
I settled on $12,000 but only if he paid the tax on that amount, of which I am not getting billed for.
I just wanted to know if it was worth me going to a solicitor in regards XXXXX XXXXX agreement was so that I didn't pay the tax on that amount.
the agreement was that I would receive 12000 after tax... as the original amount was 23,000. he either had to pay me 23000 and I paid the tax on that amount, or I settled for half and he hadto pay the tax on that amount.
sorry leon.. I know im a bit confusing... but we are getting somewhere, I just didn't know if I had anything to go on being what has happened. I have extended my ATO bill until the 8th November as I am disputing the amount that is owed due to this.
Yeah I do understand... So I am better of completing a taxation amendment for this financial year and claiming the $12,000 on top of my earnings for financial year ending 2013.
This way I have declared all earnings and that amount can be adjusted to suit... I don't care if I don't get any money back... that wasn't my point, I just didn't want a bad rap in regards XXXXX XXXXX and I truly didn't think I needed to advise them in regards XXXXX XXXXX amount because I was told the tax was paid on it... I will contact the ATO and advise them that I need to make an amendment....
Your awesome.. lol... I knew all of this, but wanted to be sure...
I received it over 12mnths from the end of 2011 to 2012 last year. So I do ask to do a taxation amendment for 2012?
Yeah I get what you are saying... but the only amended taxable income I have is the one where the full amount has been added to my 2012 taxation.. I get what you are saying.. that some should have been declared for 2011 and some for 2012... but it seems the whole amount has been declared in 2012 and not 2011...
I began claiming in 2011 for the amount owed... and that didn't finish until 2012.. so yeah I get you.... god this is messier than I thought... So... I need to advise the full amount of what he paid me in 2011, then advise them the full amount from him in 2012.
Sorry took me a while to find... going through my statements... first payment was received on the 7th July 2011 then once a month consecutively for the next 12mnths... x6 payments for 2011 x6 for 2012.
7th June 2012.
no... its all good... I have printed out month to month for myself to submit to the ATO... and I have always been good with my taxes.. I have spoken to a lady there for weeks now in regards XXXXX XXXXX really should have spoken to someone like you earlier... Like I have said if I still owe money then so be it, but I just want this crap to end.. if you get me.... at least then I have submitted it all and I am up to date....
Do I need to worry about anything more? or have we covered it?... omg its 9pm... im so sorry...
You are very welcome and thank you for using my services.
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Thank you for taking the time out to help me with this. I kind of knew what to do, but wanted to make sure I was doing the right thing.
I am glad to have spoken with you so thank you for all of this.
It has made me sleep well tonight and not worry anymore....
Well done eh.... cheers XXXXX XXXXX wish you well... I will submit my information for ATO come tomorrow.... I am just glad to get it all out of the way.... I was soo stressed.. lol...
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