iamaelephant

For anyone who doesn't know, me and Jill are looking at buying a house shortly. I thought I would start a new thread to keep people updated on what's happening.

We currently have an offer on this house, but I'm not sure how true the title is - apparantly there have been two offers on the house at $305,000, and the vendor came back at $322,000. With this in mind, we instructed the agent to present an offer of $315,000 as a walk-away price - that being the most we're willing to pay for the property.

We'll hear back from the agent today whether or not it's accepted - if so, it's conditional for 3 weeks while we organise finance, a LIM report and talk to a lawyer, and will settle on 28 May 2010. If not, we're back on the market looking for something else in that price range. I'll keep y'all posted.

Here's a simple set of instructions for all you salary/wage earners who want to check if they've over/underpaid tax, and how to get it back.

These are the basic steps involved:
- Collect all earnings information;
- Prepare calculation to see if yo're due a refund of tax/student loan;
- Request a Personal Tax Summary (PTS) to get your refund.

Collect Earnings Information
To prepare a PTS you need to know:
- Salary and wage earning to the year ended 31 March 2010;
- Interest and Dividend income in the time;
- Student Loan payments made.

You can get a Summary of Earnings from IRD which will show your 2010 salary and wage earnings and tax paid. To do this, you need to sign up for an Online Services account here: https://e-services2.ird.govt.nz/secure/login.html (click Not Yet Registered? link). From here complete your registration and log into your account.

I'm not sure what it looks like for you plebs from here (I use an agents account), but you should be able to look at your account information, and click Income Tax. Click on the appropriate year (March 2010), and click the Earnings Information link. Print the Summary of Earnings for 2010 showing gross earnings and tax paid.

Secondly, go back to the start and click Student Loans, and find in there how much you paid on your student loan in the 2010 year.

Lastly, collect interest and dividend statements - if your interest earnings are insignificant, the bank won't have sent you a summary and it's not worth bothering with. If you've earned a "significant" amount (eg probably $50 or more over the year) they will send you a Resident Withholding Tax Certificate, which you will receive shortly if not already. Also collect and dividend statements during the year, including TECT/other energy consumer trust dividends that are addressed to you.

In most cases, this is all the earnings information you need. Don't include any Kiwisaver earnings here.

Prepare Calculation
It's important that you prepare a calculation before requesting a PTS, because otherwise if you owe IRD tax you wil have to pay it. Click this link to prepare a PTS calculation for 2010: http://www.ird.govt.nz/news-updates/calculator-pts-calculator-2010-placeholder.html.

If you're doing previous years, find the correct calculation because it changes every year. The calculation should be straight forward, but post here if you're having difficulty.

Request a PTS
If you're due a refund, you need to request a PTS. Do that here: https://www.ird.govt.nz/cgi-bin/form.cgi?form=ptsrequest

Note that doing this should update your address details if those charlatans in the shopping mall have your IRD mail going to them, but it would pay to phone the IRD and double check. In fact, you can probably change your mailing addresses through the "Send and Receive Mail" function in the Online Services. You really need to make sure these addresses are correct - and keep in mind IRD holds a different address for every tax type (PAYE, INC, SL, etc).

Hmm, I think this covers everything, but post if you have questions. Also, some people will automatically be sent PTSs depending on certain criteria which are mysterious to me. I had one sent to me automatically last year which resulted in $25 tax to pay and $320 student loan underpayment to pay.

Not a huge story; just saving the shout box. I'll update this as I go through the recovery. And I may even post some pics

Scott and myself have had arguements in the past over the validity of striking workers, but even Scott ought to roll his eyes at the unlimited stupidity shown by workers in this story:

WTF these assholes are striking because their employer no longer allows drinking at work?! Only at lunch?!?!!?

Im getting a new pc, I cant be bothered building one, if I get an okay system from harvey norman then get a 300 dollar video card online would that be an easy way to get a pc without much effort?

This week the courts decided in favor of the Charities Commission in declining the applications of three applicants for charitable status. The reason for the organisations being declined is that the commission decided their goals didn't fit the meaning of a charitable purpose. To quote CCH: "The Court found that, although the unemployed would be one of the ultimate beneficiaries of the work of the appellants, their primary purpose was the promotion of individual businesses and the provision of assistance to enable them to prosper." Keep in mind these were non-profit organisations.

The legislation allows for the following to be regarded as charitable purposes:
- the relief of poverty
- the advancement of education
- the advancement of religion
- any other matters that are beneficial to the community.

Yup, that's right, an organisation designed to help local business prosoper and promote employment isn't accepted for charitable status, but any organisation whose primary purpose is to spread religion will be accepted. NZ has no separation of church and state, and we encourage the spreading of religion before the spread of employment.

For my benefit please! I had to go to the doctor cos I thought I had indigestion and spent $70 all up to get sorted, just spent $120 at the dentist to be told my teeth are all good but I need to floss more (TMI??) and now I have to go back to the doctor because my indigestion medication doesn't work!!! So now I have to spend more money that I don't have and stress about what's causing my discomfort WAAAAAAAAAAAAAAAAAAAAH! Poor and uncomfortable

I know there's going to be a few people in Christchurch next weekend, so what's everyone up to? I know there's a party somewhere at some time, but not really clear on the details.

Me and Jill are flying down next Thursday (1st April) and coming back on Monday (5 April). We will probably stay with Martin the whole time (assuming there's floor space for our inflatable bed).