Tag: Taxation
Transfer British Pension to Australia
Getting Your British Pension in Australia
Transfer British Pension to Australia, when you migrate to Australia from the United Kingdom, can involve more than one pension fund in the UK, and consideration must be given to what to do with… Read the restAustralian Tax on Overseas Purchases
How Much Tax is Paid when Buying from Overseas
When buying goods from overseas there is a consideration for Import duty and taxes for those goods. There is also a processing charge for making an Import Declaration. However, there is… Read the rest
How Much Tax is Paid when Buying from Overseas
When buying goods from overseas there is a consideration for Import duty and taxes for those goods. There is also a processing charge for making an Import Declaration. However, there is… Read the restIncome Tax Rates for Foreign Residents in Australia
Income Tax Rates for Foreigners not Tax Resident in Australia
Different Tax Rules apply for individuals who are ‘foreign residents for tax purposes’ in AustraliaThe 2016-17 Non Tax Resident TAX rates are:
32.5c for each $1 on incomes up… Read the rest
Income Tax Rates for Foreigners not Tax Resident in Australia
Different Tax Rules apply for individuals who are ‘foreign residents for tax purposes’ in AustraliaThe 2016-17 Non Tax Resident TAX rates are:
32.5c for each $1 on incomes up… Read the restIncome Tax Rates 2016-2017
Income Tax in Australia 2016 – 2017
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the rest
Income Tax in Australia 2016 – 2017
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the restTax on Foreign Income When Migrating to Australia
ATO Tax on Foreign Income When Migrating to Australia
The Australian Tax Office [ATO] has a 183 day rule: This is a statutory test to see if you are actually present in Australia for more than half the income year,… Read the restUK Tax Office to get Automatic Shared data from Australia
Australia will soon be automatically sharing Financial Data with UK
Automatic information-sharing between banks across the world means HM Revenue & Customs will soon be able to catch evaders almost anywhere. More than 90 jurisdictions (INCLUDING AUSTRALIA) will begin to… Read the restAustralian Superannuation Co-contribution scheme
Australian Superannuation Co-contribution scheme
The super co-contribution scheme is designed to assist eligible individuals to save for their retirement. If you are eligible and make personal super contributions during a financial year, the government will match your contribution with a… Read the restLow Income Superannuation Contribution
Australian Low income superannuation contribution
This has now been SUSPENDED following changes to the Minerals Resource Rent Tax Repeal and Other Measures Bills in September 2014 The low income superannuation contribution (LISC) is a superannuation contribution made on behalf of… Read the restTax when Retiring in Australia
When a Brit retires in Australia, as a resident, and has a UK pension, either State or Private, this will be taxed in Australia. (The same as any other income).
To ensure that this income is NOT taxed in BOTH… Read the rest
Income Tax Rates 2015-2016
Income Tax in Australia 2015 – 2016
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the rest
Income Tax in Australia 2015 – 2016
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the restSalary Sacrifice and Compulsory Super
Salary Sacrifice and Compulsory Super
Compulsory Super is the 9.5% (from July 2014) that an employer must pay you on top of your taxable wages. Salary Sacrifice can cover among other things, a contribution to your own Super. Add the… Read the restMedicare Levy rate to rise to 2%
Changes to the Medicare Levy in the Australian Budget 2013-14
The Government will increase the Medicare levy by half a percentage point from 1.5 to 2 per cent from 1 July 2014 to provide strong and stable funding for DisabilityCare… Read the rest
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 restLow 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
Income Tax Rates 2014-2015
Income Tax in Australia
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This is 9.65%. At… Read the restEducation Tax Refund to be Replaced by SchoolKids Bonus
A means-tested SchoolKids Bonus to replace the existing Education Tax Refund has been announced by Prime Minister Julia Gillard as a bonus for one million families with school-aged children.
Parents will receive this bonus for each child in school, where… Read the rest