Freelance tax percentage
May 8th 2012, 11:19 am
#1
Banned
Thread Starter
Joined: May 2012
Location: Italy
Posts: 1
Freelance tax percentage
Dear All,
I will be moving to Australia with a 175 skilled visa in next week. I am working as a software engineer and I have been doing freelancing in last 5 years. I would prefer to continue it even I move to Australia. In some of the countries, freelancing incomes are exempt from tax especially if it is earn in foreign currency. I would prefer to know how tax system works for freelancing jobs in Australia especially if it is foreign income.
Thanks for reading my post.
I will be moving to Australia with a 175 skilled visa in next week. I am working as a software engineer and I have been doing freelancing in last 5 years. I would prefer to continue it even I move to Australia. In some of the countries, freelancing incomes are exempt from tax especially if it is earn in foreign currency. I would prefer to know how tax system works for freelancing jobs in Australia especially if it is foreign income.
Thanks for reading my post.
May 8th 2012, 11:30 am
#2
Lost in BE Cyberspace
Joined: Feb 2009
Location: UK
Posts: 14,284
Re: Freelance tax percentage
Income will be taxed same way as anyone else's income.
I have never heard of income from freelancing being tax free before I must admit.
I have never heard of income from freelancing being tax free before I must admit.
May 8th 2012, 1:32 pm
#3
BE Enthusiast
Joined: Apr 2009
Location: Burns Beach and loving it!
Posts: 830
Re: Freelance tax percentage
Gosh, I wish that were true, since I currently earn all my freelance income in foreign currency from overseas clients.
May 9th 2012, 1:29 am
#4
Just Joined
Joined: May 2012
Posts: 2
Re: Freelance tax percentage
Are you paying taxes for another country? If it is the case there is a policy call "Double Tax" and you might be able to get a exemption for particular earnings. For instance UK and Australia has a Double Taxation Agreement.
I guess anyone working in Auditing / Tax sector could answer your question with ease.
I guess anyone working in Auditing / Tax sector could answer your question with ease.
May 9th 2012, 4:18 am
#5
Almost more Oz than Pom
Joined: Aug 2010
Location: Brisbane northern suburbs
Posts: 1,154
Re: Freelance tax percentage
When you freelance, do you work in the country you are freelancing in or are you doing the work in Australia and exporting it? In the first case you could pay tax on the earnings in the other country and not have to pay Australian tax - in the latter case you will definitely be liable for Australian tax.
Also bear in mind that if your freelance earnings are expected to be over a certain limit (used to be $50,000, not sure what it is today) you will need to have an ABN (Australian Business Number) and charge GST on any fees within Australia (exports are GST exempt). This also means filling in a BAS (Business Activity Statement) every three months.
Also bear in mind that if your freelance earnings are expected to be over a certain limit (used to be $50,000, not sure what it is today) you will need to have an ABN (Australian Business Number) and charge GST on any fees within Australia (exports are GST exempt). This also means filling in a BAS (Business Activity Statement) every three months.
May 9th 2012, 4:27 am
#6
Just Joined
Joined: May 2012
Posts: 2
Re: Freelance tax percentage
When you freelance, do you work in the country you are freelancing in or are you doing the work in Australia and exporting it? In the first case you could pay tax on the earnings in the other country and not have to pay Australian tax - in the latter case you will definitely be liable for Australian tax.
Also bear in mind that if your freelance earnings are expected to be over a certain limit (used to be $50,000, not sure what it is today) you will need to have an ABN (Australian Business Number) and charge GST on any fees within Australia (exports are GST exempt). This also means filling in a BAS (Business Activity Statement) every three months.
Also bear in mind that if your freelance earnings are expected to be over a certain limit (used to be $50,000, not sure what it is today) you will need to have an ABN (Australian Business Number) and charge GST on any fees within Australia (exports are GST exempt). This also means filling in a BAS (Business Activity Statement) every three months.
.
May 9th 2012, 9:40 am
#7
BE Forum Addict
Joined: Apr 2012
Posts: 1,603
Re: Freelance tax percentage
Dear All,
I will be moving to Australia with a 175 skilled visa in next week. I am working as a software engineer and I have been doing freelancing in last 5 years. I would prefer to continue it even I move to Australia. In some of the countries, freelancing incomes are exempt from tax especially if it is earn in foreign currency. I would prefer to know how tax system works for freelancing jobs in Australia especially if it is foreign income.
Thanks for reading my post.
I will be moving to Australia with a 175 skilled visa in next week. I am working as a software engineer and I have been doing freelancing in last 5 years. I would prefer to continue it even I move to Australia. In some of the countries, freelancing incomes are exempt from tax especially if it is earn in foreign currency. I would prefer to know how tax system works for freelancing jobs in Australia especially if it is foreign income.
Thanks for reading my post.
Income generated outside Australia not taxed unless.....
