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General Tax FAQ's

1. How do I know if I'm a resident or non-resident for tax purposes?
If you've moved to Australia on a working holiday, student, sponsorship, or any other kind of visa, you can be deemed a resident for tax purposes if you have lived in Australia continuously for at least 6 months (183 days) and have lived in one single place for at least 6 months (183 days). Meanwhile, you present your intention to reside yourself in Australia.
2. What are the penalities for not filing a tax return?
If you earn more than $6000 in the tax year and do not lodge a tax return by October 31st you may be charged penalties by the Commissioner of Taxation. The base penalty is currently $110 for every 28-day period that the tax return remains outstanding up to a maximum of $550.
3. I am an overseas student and would like to know how to obtain a tax file number.
If you are allow to work according to your visa, you can apply for a tax file number (TFN) on the internet through Tax Office Website. This internet service is also available to working holidaymakers, New Zealanders who get a visa on arrival and permanent migrants.
4. I am leaving to travel overseas; do I need to complete my tax return before I leave?
It isn't necessary to complete a return before leaving Australia unless you will not be back before the due date for lodgement of your return (31 October). However, Accounting Solutions 4U provides you an express online application so that you still can complete your tax return while you are overseas.
5. My mother has passed away in this financial year. Do I need to complete a tax return for her?
It is necessary to complete a tax return to date of death if a return has been lodged in past years. This return, marked final, must show all income received to the date of death.
6. If I lost my PAYG Payment Summary, how can I do to complete my tax return?
Your return can be completed using the details from a copy of the PAYG Payment Summary (your employer can provide this), a letter from your employer detailing the information on the PAYG Payment Summary or by reviewing your Final Pay Slips for that period. If you are unable to obtain the payment summary details from an employer a Statutory Declaration would also be sufficient.
7. I just started a second job. What shall I notice my second employer to help me cutting the tax bill at the end of year?
You shall notice your second employer that you cannot claim the tax free threshold of $6,000 from this job because you already claimed it from your first employer.
8. I have been in Australia for 12 months on a temporary working visa and have been in few different places. I also pick up some part-time jobs to cover my expenses, shall I need to lodge a tax return?
Yes,you need lodge your tax return to Australian Tax Office if you earn income in Australia. Generally, if you can be taxed as Australian Resident, you first $10,500 to $16000 would be tax free according to how many months you have stayed in Australia in the financial year.
9. I am a backpacker/International student. I am going to leave country before 30 June, can I lodge my tax return before I leave?
Yes. You can lodge your application to Accounting Solutions 4U and we will help you to do an early tax assessment.
10. What document shall I provide to Accounting Solutions 4U if I want to do an early tax assessment?
Please upload your final payslips for every job you got in the financial year and complete the online application to us, we would either contact you to require for more information or lodge it straight way if the information you provide is sufficient.
11. What are the changes of the medicare levy policy?
From 1 July, 2012, the Medicare levy low income threshold for the 2012/2013 income year will increase to $20,542 for individuals, and $32,279 for pensioners eligible for the Seniors and Pensioners Tax Offset. Besides that, the Medicare levy low income threshold for families for the 2012/2013 income year will increase to $33,693, and the additional family threshold amount for each dependent child or student will increase to $3,094.