Tax Year
Hope someone can help with this as I'm starting to get confused.:mad:
The plan is to start work in Sydney on 1st July. As this is the start of the tax year in Oz, if I get a Tax File Number before 1st July as opposed to 1st July or after, am I liable for any tax for the 2002-2003 tax year? Cheers Dave |
You only become liable for tax once you become resident. If you arrive on 1 July that when the tax people will get intrested in you.
Not sure what you would need to do if you got a TFN before July 1 maybe you'd have to put a tax return stating you were non resident for the tax year 2002/2003. I'm pretty sure you wouldn't be liable for ANY tax, just not sure about the paperwork. |
Originally posted by Kiwipaul You only become liable for tax once you become resident. If you arrive on 1 July that when the tax people will get intrested in you. Not sure what you would need to do if you got a TFN before July 1 maybe you'd have to put a tax return stating you were non resident for the tax year 2002/2003. I'm pretty sure you wouldn't be liable for ANY tax, just not sure about the paperwork. Dave |
Re: Tax Year
Originally posted by Bluerobot Hope someone can help with this as I'm starting to get confused.:mad: The plan is to start work in Sydney on 1st July. As this is the start of the tax year in Oz, if I get a Tax File Number before 1st July as opposed to 1st July or after, am I liable for any tax for the 2002-2003 tax year? Cheers Dave You are liable for Oz tax on your worldwide income once you become tax resident in Oz. Thus even if you have a tax file number prior to 1st Jul 2003 yet do not get paid till AFTER 1st Jul then you will not need to complete a tax return for 2002-2003. Incidentally, even if you have a tax file number then you still only need to submit a tax return if you paid tax in the tax year in question. There are other events that trigger the requirement for a tax return including if you receive an Oz Govt pension but they are less common. I hope that this clears things up for you. Regards Terry :lecture: |
Re: Tax Year
Originally posted by terryg Hi Dave You are liable for Oz tax on your worldwide income once you become tax resident in Oz. Thus even if you have a tax file number prior to 1st Jul 2003 yet do not get paid till AFTER 1st Jul then you will not need to complete a tax return for 2002-2003. Incidentally, even if you have a tax file number then you still only need to submit a tax return if you paid tax in the tax year in question. There are other events that trigger the requirement for a tax return including if you receive an Oz Got pension but they are less common. I hope that this clears things up for you. Regards Terry :lecture: Sounds pretty sensible. Dave |
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