What Expats Need to Know About Filing a Tax Return
Being an expat in Australia is not all about cuddling koalas and sunny days at the beach. Don’t get me wrong, Australia is a beautiful country, you couldn’t pick a better place to be an expat, but there are parts of being an expat, anywhere, that totally sucks.
Understanding taxes as an expat is one of them. Not only do you have to stay up-to-date on your taxes back home, but you now have a second country that you will be paying taxes to.
Yes, there are tax treaties between Australia and other countries that do help with not paying double tax on the income you earn in Australia, but that doesn’t mean you do not still have to file a tax return back home as well as in Australia.
There is also a new set of tax rules that you will need to be familiar with in Australia. For example, the first major obstacle that you will need to sort out is if you are even a resident for tax purposes in Australia.
This is separate from which Australian visa you have. Meaning, if you have a temporary residence visa, such as a TSS visa, even though it says “temporary residence” right in the description of the visa, you may be a resident for tax purposes.
That’s just one example of the confusion expats have when it comes to filing their tax return in Australia.
Things get far more complicated and way more confusing if you are a US expat living in Australia. You will need to be familiar with a couple of new forms that you might need to file and a whole new set of due dates. Oh, and stay on top of any new tax reforms that happen while you are living in Australia.
Paying taxes as an expat is a big topic and, when that time of year comes around, fills up my inbox with all kinds of questions.
Below is all the posts on Sydney Moving Guide about taxes.
Taxes for Expat Living in Australia. Here's What You Need to Know.
Many expats transfer large sums of money to Australia when they move. Is that money going to be taxed after it's transferred? What about money you bring with you on the plane to Australia?
Here's what you need to know about filing a tax return in Australia plus Australian income tax tables and how to file your taxes online. I also list all the due dates you need to know.
Getting an Australian Tax File Number (TFN) is something that everyone moving to Australia needs to do. If you are moving to Australia, and plan on working, you will need a TFN. If you don't have a TFN, you cannot file a tax return. Here's how to get your TFN without having a permanent address in Sydney.
As a US expat, your taxes just got more complicated. Not filing your taxes correctly can result in some very large fines. Here's what you need to know plus I clear up several misconceptions.
SMG readers wrote in with their questions about paying tax in Australia as an expat. Questions range from transferring money to tax deductions and more. Answers provided by H&R Block Australia.
If you do not qualify for Medicare in Australia, and are a taxpayer, you can claim a Medicare Levy Exemption at the end of the year and get any tax you paid back. The percentage of tax back ranges from 1% to 2% of your income tax. Here's how to get that tax back.
What is FATCA and how does it affect taxes of US expats living in Australia. This post covers Form 8938 Filing Thresholds Values, the Physical Presence Test, How to Figure the 12-month Period for the Physical Presence Test and the Bona Fide Residence Test.
All US expats living abroad need to know what an FBAR is and if they are required to file one. Chances are, if you have any financial accounts overseas like a bank account, you will have to file an FBAR depending on the maximum value of your accounts during the year. Here's what you need to know.
Common UK Expatriate Tax questions and answers for UK expats living in Australia. Dates to remember, residence rules, claiming UK state pension and more.
How to report your Australian Superannuation when you file your US tax return is very confusing. Here are the basics to what you need to know.