The Australian Federal Budget in May 2021 picked up the thorny issue of the tax residency of individuals in Australia, and we expect changes to the tax residency rules in Australia in the near future. A lot has changed in terms of global mobility and the ability of individuals to move and work internationally since […]
Australian Tax
Addy case = A win for the taxpayer! Australia’s backpacker tax is struck out.
In what is great news for working holiday maker visa holders from the UK – and some other countries that have a Tax Treaty with Australia containing a no discrimination clause – a lady by the name of Catherine Addy has argued successfully that she was unfairly taxed on pay she earned while working as […]
Do You Need to Lodge a 2020 Australian Tax Return?
If the answer is yes, the deadline to submit the tax return – or to appoint a registered tax agent so you can get more time – is fast approaching. The 2020 Australian income year ended on the 30th of June 2020. Individuals who are required to submit a tax return have until the 31st […]
What Rate of Tax do Working Holiday Maker Visa Holders Pay in Australia?
Working holiday visa holders have been paying a special rate of tax in Australia for several years. Here’s a quick summary of the tax rates for working holiday maker visa holders, including a commentary on what is taxable and what happens if a working holiday visa holder applies for another visa such as an employer […]
Medicare Levy Surcharge and Private Health Insurance Cover – A Review
The Medicare Levy Surcharge (MLS) is a levy paid by Australian tax payers who do not have private hospital cover and who earn above a certain income. This blog discusses the circumstances when the MLS becomes payable and how private hospital cover can avoid the Surcharge. MLS is designed to encourage individuals to take out […]
End of financial year in Australia: Accessing your end of tax year salary and PAYG information
Do you know how to confirm your salary for the last tax year? This can be important if you need to provide documentation to someone else, such as a bank if you want to arrange home loan finance. These days most employers deliver payroll information to the Australian Taxation Office under the Single Touch Payroll […]
Not Lodged Your 2019 Australian Tax Return? All Is Not Lost – Yet!
Individuals who are represented by a registered tax agent will often have a personal tax return filing deadline that is the 15th of May following the end of the tax year. This can be extended to the 5th of June as a concession in certain circumstances – notably if the tax return is lodged and […]
Working From Home During COVID-19 – Tax Deductions in Australia
Due to the Coronavirus (Covid-19) pandemic we find ourselves in an unprecedented time with a large number of employees required to work from home. If you are an employee and have been working from home due to government imposed or self-isolation requirements you should be able to claim work-related tax deductions for using your home […]
End of Tax Year Planning – Australia
As we approach the end of the 2019-20 tax year in Australia here are some steps you might take to reduce your tax bill – or to increase your tax repayment. Please remember that comments here are general in nature – you should consider discussing what follows with your tax accountant before taking any action. […]
COVID-19: JobKeeper payment details for sole traders, partnerships, and other entities
The Australian Taxation Office has released details regarding the Federal Government’s JobKeeper payment for sole traders, trusts, partnerships, and share holders and directors of limited companies. Sole traders and entities such as partnerships, trusts or limited companies can be entitled to the JobKeeper Payment scheme. Such an entity can be eligible for the JobKeeper Payment […]