ginger Posted May 8, 2012 Share Posted May 8, 2012 Well guys how was the budget for you all, if you're a 457 visa holder you probs feel the same as me. LAFHA has gone taking away $200 a week and they've upped tax to 32.5% taking $70 a week. So after that on an $80000 a year wage I need to bring up a family of 5....well that's impossible. My intention is to return hom but I have $20000 debt from coming over and then would accrue a similar amount to return. All chances of saving to return have gone and I need to leave in 3 years? I cannot believe my ife has literally turned upside down so fast. We cannot get the childre looked after for my wife to work as we don't get nice rates at the nurseries etc.... that PR's get,we are now paying more tax too. I work in the mining industry....not the high end of it obviously and it's the mining tax which is paying for the improvements to so many peoples lives except for us workers. I'm stuck here without a good future outlook. 2 weeks ago life was good now it's looking like I'm in my UK situation again...a lif a struggle ahead....bloody great. ginger Link to comment Share on other sites More sharing options...
fish.01 Posted May 8, 2012 Share Posted May 8, 2012 The tax isn't 32.5%...that is only for taxpayers deemed non resident for tax purposes...457 visa holders are resident for tax purposes as are most people. You are confusing immigration status with tax residency status. You will continue to receive LAFHA until 2014 if you entered into the arrangement before 8 May 2012: "The reforms will apply from 1 July 2012 for arrangements entered into after 7.30pm (AEST) on 8 May 2012, and from 1 July 2014 for arrangements entered into prior to that time. " (Source: See page 5 of this pdf:http://www.budget.gov.au/2012-13/content/bp2/download/bp2_consolidated.pdf) Link to comment Share on other sites More sharing options...
VERYSTORMY Posted May 8, 2012 Share Posted May 8, 2012 Also, I believe that there is a phase out period for the LAFHA. So is not going to happen tomorrow. I assume you would eventually want PR? So you would have lost it then anyway. Look at it like this. As a couple with no children, we won't get the bonus this year, we don't get the benefits and the compensation for the carbon tax is going to be paid via child benefits so we won't get that either. Link to comment Share on other sites More sharing options...
Guest scrumpy Posted May 8, 2012 Share Posted May 8, 2012 What do you do in the mines and how much for? How hard did you find getting a start there? I know very nosey indeed!!! Link to comment Share on other sites More sharing options...
ginger Posted May 8, 2012 Author Share Posted May 8, 2012 Thanks everyone for replies hopefully you're right and I'm wrong. I read it on news.com.au and they say ''ALL oversea's employees will pay a blanket 32.5% tax'' Also we don't know if we are going for PR we came with an open mind but are definitely not at a stage where we know if we want to stay here. We came for a life changing experience. I don't work 'in' the mines I am a draftsman and we do mainly mining work. Sorry I can't be more helpful on that front. ginger Link to comment Share on other sites More sharing options...
Petals Posted May 8, 2012 Share Posted May 8, 2012 As self funded retirees did not see anything to help us in the budget either, keep on moaning about pensions but until the interest rates improve not much for us. Everyone of us has a problem with budgets. Link to comment Share on other sites More sharing options...
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