Tax Archives - Britzinoz

Medical Tax Offset

Medical Tax Offset The Net Medical Expense Tax Offset (NMETO) is to be phased out, and only the taxpayers who claim the offset for the 2012-2013 income year will be eligible to claim in future years. By 2019 this will… Read the rest

Income Tax

Income Tax in Australia

2013-2014 Tax Rates for Earners classed as Tax-Resident Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $80,000 $3,572 plus 32.5c for each $1… Read the rest

Low Income Tax Offset

The Low Income Tax Offset in Australia The Low Income Tax Offset (LITO) is a rebate calculated at the end of the tax year to ensure that people on a low taxable income pay little or no tax. 2013-2014 There… Read the rest

Australian Tax on a Working Holiday Visa WHV

The Australian Financial year has now ended, and many are looking at doing their Tax Returns, and claiming back whatever tax they have overpaid during the year. Those visitors on a Working Holiday Visa are no exception, especially as they… Read the rest

UK Investment Property

UK Property Investment from Australia

Are you keeping your UK property even after moving to Australia ?

The Tax implications when considering this, are worth looking into carefully. You may have heard about the Negative Gearing on investment properties in… Read the rest

UK Property Investment from Australia

Are you keeping your UK property even after moving to Australia ?

The Tax implications when considering this, are worth looking into carefully. You may have heard about the Negative Gearing on investment properties in… Read the rest

Historic Australian Tax Rates

Historic Income Tax rates in Australia

Tax Rates for the year 2014/2015

Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $80,000 $3,572 plus 32.5c for each $1… Read the rest

Medicare Levy and Surcharge

Medicare Levy in Australia

Medicare Levy

A Medicare Levy, currently at 2.0% of income, is charged to Individuals. (From 1 July 2014 the Medicare levy rose from 1.5% to 2.0%) In a similar way to the UK “National Insurance Contributions”,… Read the rest

Education Tax Refund

The Education Tax Refund (ETR) is available for families who are able to claim Family Tax Benefit part A, or a few other benefits, enabling them to claim part of the education related costs of their children. The basic rule… Read the rest

The British Non Residency Test

Many British Expats will assume that once they are living in another country, that they are no longer under the watchful eye of the British Inland Revenue. However, it has recently been shown that many of us have misunderstood the… Read the rest

Medicare Levy on a Student Visa

The Medicare Levy is an Australian Government charge of 1.5% to help towards the costs of the Australian Medical System know as Medicare. A Student Visa holder, in Australia for over 6 months is normally classed as an Australian Resident… Read the rest

Income Tax on a Student Visa

Australian Income Tax on a Student Visa

Income Tax rates are different depending on whether a person is classed as Tax Resident in Australia or not. The main difference is that a Tax Resident earner is able to earn the… Read the rest

Australian Company Tax Rate

The following rates of tax apply to companies for the: 2009-2010 30% for companies, including corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and public trading trusts. 2012-2013 28% Small Companies 30% Large Companies 2013-2014 28%… Read the rest

Tax Rate Comparison UK-AUS

Comparison of Australian and UK wage and tax rates July 2009 Average Earners Based on the average/median Male Full time earnings for each country. Total deductions as a percentage of gross earnings 23.9% UK 23.7% Aus Note: An extra, non… Read the rest

Tax System Comparison UK-Aus

The Tax system in Australia may appear ‘similar’ to the UK tax sytem, but there are actually many differences. These differences result in the majority of Australian taxpayers getting a tax refund at the end of every year. Both the… Read the rest

Education Tax Refund 2008

Education Tax Refund Education Tax Refund 2008/09 (ETR) The Education Tax Refund (ETR) has now been passed by the Australian Parliament (November 27, 2008) Under this new ETR, families who are able to claim Family Tax benefit part A, will… Read the rest