Thread: Loans on a 457
View Single Post
Old 02-05-2008, 07:57 AM   #26 (permalink)
BullcreekBob
Senior Member
 
BullcreekBob's Avatar
 
Join Date: Aug 2006
Location: Bull Creek
Posts: 397
Thanks: 1
Thanked 14 Times in 13 Posts
BullcreekBob will become famous soon enough
Quote:
Originally Posted by AndrewL View Post
Generally speaking, you can only receive LAFH benefits for four years, although I have seen five years on occasions.
Technically speaking, you are "elligible" to negotiate a LAFHA with your employer for as long as your are living away from home.

For people who come on a temporary 4 year visa but after three years change to a new employer with another 4 year 457 temporary visa, they could be paid a LAFHA for the whole 7 years.

If at any stage you buy a house here, or create a "home" then technically you are no longer living away from home. In such a situation the ATO could decide that you are not eligible for a LAFHA and tax you on the amount so paid. In most practical senses however, the ATO will not know about your home situation so things will be at the discretion of your employer.
BullcreekBob is offline   Reply With Quote