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Hi
I know there is a mechanism for having monthly PAYE adjusted if evidence can be produced of a loss against IP income. Can someone provide a brief summary on the steps on how to do it as I am not sure where to start and just what can be included in the calculation for the “cost” elements.
Thanks
K
Have a look at the ATO site for ITWV
http://www.ato.gov.au/corporate/content.asp?doc=/content/71506.htm
Do it yourself or an accountant will usually charge $120-150 or so
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