First year tax question
Feb 12th 2012, 12:40 pm
#16
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
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.
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.
Feb 13th 2012, 3:41 pm
#17
Just Joined
Thread Starter
Joined: Aug 2008
Posts: 20
Re: First year tax question
Thanks Allan.
Feb 13th 2012, 6:41 pm
#18
BE Forum Addict
Joined: Oct 2011
Posts: 1,217
Re: First year tax question
Yeah I just grabbed my p85 yesterday too!
When does the Aus tax year run to and from?
When does the Aus tax year run to and from?
Feb 15th 2012, 6:46 am
#21
Lost in BE Cyberspace
Joined: Dec 2008
Posts: 6,039
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.
Feb 22nd 2012, 4:56 am
#22
Just Joined
Joined: Sep 2009
Posts: 20
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)
Feb 22nd 2012, 6:04 am
#23
Lost in BE Cyberspace
Joined: Feb 2009
Location: UK
Posts: 14,284
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)
