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Tax Variation FormPropertySeeker [9 Posts] Hi everybody, sorry if someone has already asked this question. What is this "Tax Variation Form" i keep hearing about? People tell me I can get some money back early. can some1 explain to me what it is and how it works? Thanks Hybrid2007 [48 Posts]  PropertySeeker, find out more here - http://www.ato.gov.au/corporate/content.asp?doc=/content/00136083.htm   duckster [650 Posts]  Property seeker you might find these posts below useful as well Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser. Edvico_kvn [27 Posts] PropertySeeker, In the accounting circles, its commonly called the Section 221D form. Its basically a form to instruct your employer to take out less tax each month in anticipation of a tax refund (due to negative gearing). Instead of getting a big refund after lodging your tax return, you may get 1/12th of your refund every month instead (via lower tax taken out rom your employer). You don't necessarily get a bigger refund from lodging S221D form, just sooner. So you benefit from the earlier cashflow (time value of money). Feel free to shoot me an email. I've written an article on this recently which gives you a numerical example. Regards Kevin Thang| Chartered Accountant & Principal of Edvico Mortgage Solutions | Suite 5, 28 Belmore St Burwood 2134 | |
User loginIn The NewsRBA Rate Drops Rate The RBA has just announced a 100 basis point drop to its benchmark cash target rate. Developers Expectant The Federal Government's $1.5 billion first-home package has stimulated the development market. RBA Rate Cut RBA delivers investors an early xmas present by cutting its benchmark by 75 basis points to 5.25% Today's TipYou should never pay more than 30 cents in the dollar in income tax <more> Active forum topicsBreaking a fixed interest contract Author: marie07 Where is the bottom Author: wealth4life.com Who's OnlineTake The Test
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