Tax on 457
#1
Forum Regular
Thread Starter
Joined: Jan 2006
Posts: 30
Tax on 457
Hi
Can anyone help, I've been here since March and just recieved my tax return.
I am working on a 457 and claiming LAHFA but I've noticed my employer has put my total gross on it not deducting LAHFA, will this be a problem?
On the tax calculator for non residence I owe more tax than paid
Thanks in advance
RIC
Can anyone help, I've been here since March and just recieved my tax return.
I am working on a 457 and claiming LAHFA but I've noticed my employer has put my total gross on it not deducting LAHFA, will this be a problem?
On the tax calculator for non residence I owe more tax than paid
Thanks in advance
RIC
#2
Re: Tax on 457
Originally Posted by rickyl
Hi
Can anyone help, I've been here since March and just recieved my tax return.
I am working on a 457 and claiming LAHFA but I've noticed my employer has put my total gross on it not deducting LAHFA, will this be a problem?
On the tax calculator for non residence I owe more tax than paid
Can anyone help, I've been here since March and just recieved my tax return.
I am working on a 457 and claiming LAHFA but I've noticed my employer has put my total gross on it not deducting LAHFA, will this be a problem?
On the tax calculator for non residence I owe more tax than paid
1. Ask your employer why LAHFA has been included, it ought not to be as far as I know.
2. You should probably be paying tax at resident rates, not non-resident.
#3
Just Joined
Joined: Jul 2006
Posts: 6
Re: Tax on 457
Hi, YOU ARE CLASSED AS A RESIDENT FOR TAX PURPOSES ON THIS VISA, I'M ON THE SAME ONE
CHEERS
Can anyone help, I've been here since March and just recieved my tax return.
I am working on a 457 and claiming LAHFA but I've noticed my employer has put my total gross on it not deducting LAHFA, will this be a problem?
On the tax calculator for non residence I owe more tax than paid
Thanks in advance
RIC[/QUOTE]
CHEERS
Can anyone help, I've been here since March and just recieved my tax return.
I am working on a 457 and claiming LAHFA but I've noticed my employer has put my total gross on it not deducting LAHFA, will this be a problem?
On the tax calculator for non residence I owe more tax than paid
Thanks in advance
RIC[/QUOTE]
#4
Re: Tax on 457
agree with above. You are RESIDENT for tax purposes.
Check whteher employer reallyhas included LAFHA in your gross. They should not as it is not assesable for income tax. Any rent portion is totally tax free and the food portion has effectively been taxed at Fringe Benefits Tax rates.
So if total LAFHA is say $20k then that it is not subject to income tax and shoould not show up on your employers' year end statement.
Check whteher employer reallyhas included LAFHA in your gross. They should not as it is not assesable for income tax. Any rent portion is totally tax free and the food portion has effectively been taxed at Fringe Benefits Tax rates.
So if total LAFHA is say $20k then that it is not subject to income tax and shoould not show up on your employers' year end statement.