Tax Year

Old Jun 5th 2003, 10:37 pm
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Hope someone can help with this as I'm starting to get confused.

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?

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Old Jun 5th 2003, 10:54 pm
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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.
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Old Jun 5th 2003, 10:59 pm
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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.
Thanks for the reply Paul. As you say, I'm pretty sure I wouldn't get hit for tax, but yes, I am trying to avoid as much paperwork as possible after the paper trail we have been put through lately. Hopefully someone can clear this up.

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Old Jun 5th 2003, 11:07 pm
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Default Re: Tax Year

Originally posted by Bluerobot
Hope someone can help with this as I'm starting to get confused.

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
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 Govt pension but they are less common.

I hope that this clears things up for you.

Regards

Terry

:lecture:

Last edited by terryg; Jun 5th 2003 at 11:15 pm.
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Old Jun 5th 2003, 11:13 pm
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Default 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:
Cheers Terry.

Sounds pretty sensible.

Dave
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