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Re: First year tax question
Yep, in Australia only the tax free threshold is pro rated for new arrivals - not the various tax bands.
The Low Income Tax Offset is also available in its entirety. If your only income for the tax year of arrival is salary taxed under PAYG you can reasonably anticipate a tax repayment when you submit your first Aussie tax return. Also, there's a P85/leaving the UK tax factsheet here: http://www.gmtax.com.au/downloads/ Best regards. |
Re: First year tax question
Thanks Allan.
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Re: First year tax question
Yeah I just grabbed my p85 yesterday too!
When does the Aus tax year run to and from? |
Re: First year tax question
Originally Posted by Tramps_mate
(Post 9899987)
Yeah I just grabbed my p85 yesterday too!
When does the Aus tax year run to and from? |
Re: First year tax question
Originally Posted by Bermudashorts
(Post 9900012)
1st July is start of tax year here.
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Re: First year tax question
I believe your UK income is used when working out some family tax benefits or something...can't remember which one sorry. May not be relevant to your situation anyway.
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Re: First year tax question
I moved here last November and got told that although I have paid tax on my earnings last year in the UK I will have to pay tax on it again here in Australia and then get a credit back - so I will be taxed twice on April-Nov earnings in the UK. Is that correct? (I'm looking for an accountant in Melbourne at the moment)
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Re: First year tax question
Originally Posted by CoolAllie
(Post 9914509)
I moved here last November and got told that although I have paid tax on my earnings last year in the UK I will have to pay tax on it again here in Australia and then get a credit back - so I will be taxed twice on April-Nov earnings in the UK. Is that correct? (I'm looking for an accountant in Melbourne at the moment)
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