Tax & Super Advice

I'm currently in Oz but leaving soon & wanted to thank everyone on this forum for helping with my Oz experience. I've been workin with a tax agent for the past fee months & wanted to pass on some knowledge before leaving the forum.( if some of the info below is incorrect please feel free to amend)

Tax year in Australia runs from 1st July until 30th June each yr

You claim your tax back at end of tax year or if leaving the country & do not plan to return to work b4 end of tax year.

You Must do a tax return each year. ( not advisable to leave them build up until you leave )

When completing a tax return you need to include all your income & the tax you paid. ( you cannot be selective on which jobs you wanna claim back)

The filing deadline for a tax return is the 31st Oct. ( if you miss this use a registered tax agent to avoid penalties)

You must stay in Australia for at least 183 days to have any Chance of getting Taxback ( holidays of less than 6 weeks at any 1 stage are allowed... Anything longer is considered leaving the country)

If you arrive after Jan wait until you have completed 183 days to file ... Increases chances of a refund

To be a resident for tax purposes you should stay in 1 place for at least 6 months ..(this is not strictly followed by ATO but if your return is subject to audit you need to be able to proof this)

All WHV holders should try to be residents for tax purposes because your first 18200 of income will be tax free

If a non resident for tax purposes you are subject to pay 32.5% on every dollar

You can claim upto 300 dollars expenses without receipts. (This does not mean you get the full amount back
,it decreases your taxable income by that amount)

Irish people on temp working visas with incomes over 18200 in a tax year should apply for a Medicare levy exempt Cert ( basically because we don't have Medicare we get extra back on tax)

Tax returns are nothing to do with your Visa

No ! You don't get it all back in your first year - it's always dependant on your income & tax paid throughout the year ... Most people work/earn more in yr 2 ( higher your income the more tax your expected to pay)

My Advice

Keep records of all pay you receive - e.g. Payslips/Summarys & all work related expenses (tools, uniform)

Give a forwarding email & physical address to your employer & ask them to send on your pay docs ...( many people fin work on a Friday & leave before getting there last payslip)

YOU NEED - your final payslip with YTD figures or a Payment Summary to claim taxes back

I also advise that you use a register agent in year 1 to ensure your first return is carried out correctly ... After this is you are comfortable doing it yourself then go for it ,,,

Don't trust another backpacker or the know it all in the hostel who claim they can get you this & that. Your tax return is your responsibility - make sure u do it right

SuperAnnuation

This is your pension.
Your Employer pays it
It's approx 9.25% on top of your wage if you earn over 450 per month ( will eventually move from 9-12% over next few years)

Aussies get this at retirement - most backpackers get this once we have left country.

In order to claim it back you must

Be outside Oz
No longer have working rights e.g, visa expired or cancelled

MOST IMPORTANT thing is to ensure u only have 1 fund... (Makes it easier to claim back)

Set one up before you start working or on 1st job & stick with it . Each time you change jobs give your new employer your Super details to ensure money all in 1 account

If you have multiple accounts merge them to avoid monthly fees on multiple accounts

You are entitled to approx 65% of your Super back if you claim it before retirement age ( most will do this)

A lot of the Super Paperwork can now be done before leaving - Don't leave it until your last week/day to get it done !!!!