Tax and related benefits on 457

[gilesbest]

Hi all,

New to this forum but thought I'd make a start by doing some research into the taxes and the benefits before I get to Sydney. I'm hoping to get there on a 457 visa (although no definite word yet and am getting a little nervous!) to start work in mid-June. I have read numerous posts about LAFHA and realise that that is something that will either be offered or not but I wondered other than that is there any other benefits that might be available to me? Once the tax has been deducted from my pay is there anything I can claim back? I'm having to fund the move myself so anything would go a long way!

Many thanks for your help,
Giles

[billy braveheart]

In a word No
Apart from the tax you pay
457 is a way of getting people here quick but you have no benefits
you dont get full medicare you dont get tax relief of stamp duty you dont get 1st time buyers grant and you probably will get lower pay than most of your colleagues
MOst people we speak to call it the slave visa
hope your 457 is better than ours
but im sure someone who isnt on a 457 will come up with some benefit that you will get,
hopefully it will be someone who knows exactly what you can get and answer your question
i can just tell you what you wont get

[gilesbest]

Thanks for the reply. I've been told the salary should be comparable to other doing the same job so if I can get LAFHA I should be ok. I was thinking about buying a property in Sydney so the lack of benefits for that is a bit of a downer.
Maybe slightly off topic; can you give me a little info about medicare such as is it deducted from your salary, is a reciprocal arrangement with the NHS possible and do I make up the medicare shortfall with private health insurance?

Many thanks

[billy braveheart]

on a 457 you only get emergency medicare you can and are urged to take out private health care
IN saying that we have just bought a property on a 457 as we weighed up the time waiting to get PR and the time renting and decided to buy
as regards to the salary i signed a contract in the uk before i came here but when i got here was told that they couldnt give me that as i had to be employed not self employed so practically halved it so just be wary hopefully our 856 PR visa will be through soon and my earnings will go up to the scale they told me in the first place

[gilesbest]

That's outrageous they can do that once you've signed a contract! Did the change in salary not put you below the minimum income allowed for employment on a 457?
I'm going to be working for the Sydney health board, hopefully what I sign for is what I'll get but will make sure!
Useful info about the health insurance, I will look into that once I'm there and I'm sure there are other posts about the options available for private insurance.
Once I actually know for definite what my salary will be I'll discuss options with a mortgage advisor and see where I stand....unfortunately it seems I couldn't have picked a more expensive place to try and buy!
Thanks again