PR application / 457 minimum threshold
#1
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Joined: May 2013
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PR application / 457 minimum threshold
I'm getting ready to put my PR application in and am a bit worried as my company have still been paying me LAFHA even though it was supposed to have stopped last Oct.
does anyone know if this will have an impact on my application?
does anyone know if this will have an impact on my application?
#2
Re: PR application / 457 minimum threshold
Is there some legitimate reason it was still paid, or a simple mistake or tax evasion?
Presumably someone will have to complete an FBT return at some point and tax may become payable?
Presumably someone will have to complete an FBT return at some point and tax may become payable?
#3
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Re: PR application / 457 minimum threshold
simple mistake, my boss has said that they were never advised by our tax lawyer. to the best of my knowledge my company has paid the excess.
#4
Re: PR application / 457 minimum threshold
You should be more worried about your tax situation than your visa situation, your company can pay you all the allowances they want, you need to pay tax on it though. Expect a big bill!
#6
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Re: PR application / 457 minimum threshold
I've lodged my tax return for the year and it was ok, not sure if I am in the clear or not
#7
Re: PR application / 457 minimum threshold
Well you cannot have filled it in properly then, because you definitely should not have been getting the tax benefit of LAFHA. Note that tax returns are not checked as a matter of course, so filling one in and not getting a question means precisely zero.
#8
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Re: PR application / 457 minimum threshold
on my PAYG it was down as the reportable Fringe Benefit amount
#9
Re: PR application / 457 minimum threshold
Years ago when we went from 457 to PR the company continued paying the LAFHA during the application process period. We got a tax bill for about $10k and it had to be paid straight away. Also know of a friend in a similar situation who got one for nearly $20k
#10
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Re: PR application / 457 minimum threshold
i'm hoping my worst case scenario is that i get a tax bill. i've just been a bit afraid that DIAC might reject the application based my companies actions. Nerve wrecking process
#11
Re: PR application / 457 minimum threshold
DIAC won't care about your tax.....it is not part of the PR process to even ask about it.