Guest pomegranate Posted August 28, 2008 Share Posted August 28, 2008 As a 457 temp res visa holder, living and working here in Australia all year round save for holidays, I had assumed that I was considered "resident for tax purposes". A (Canadian) 457 colleague has spoken to a tax accountant who claims she will have to pay 29 cents on the dollar from dollar 1 upwards due to her having the temp res visa and not PR status. As a teacher, and having only worked a few months in the 2007/2008 tax year, the nil tax rate for the first 6000 dollars would be a mighty fine thing. If I have to pay 29 cents on the dollar, I might just stay at home and grow veggies : ) Any advice / experience with this? Thanks Link to comment Share on other sites More sharing options...
Guest Pinhead Posted August 28, 2008 Share Posted August 28, 2008 These are the tax rates for residents & non residents Individual income tax rates And this tool determines whether you are a resident for tax or not. Tax Tools If you're uncertain about what tax you should pay I'd suggest you either contact the ato directly or seek the advice of an aussie taxation specialist. Link to comment Share on other sites More sharing options...
Guest pomegranate Posted August 28, 2008 Share Posted August 28, 2008 Thanks - I had looked at the site, and read the info, but not come across that tool - I will forward the link to my Canadian colleague. I am relieved to be a tax resident. Just goes to show you can't always trust tax accountants - hers is quite mistaken about the situation. Link to comment Share on other sites More sharing options...
Guest sweetpea0701 Posted August 29, 2008 Share Posted August 29, 2008 These are the tax rates for residents & non residentsIndividual income tax rates And this tool determines whether you are a resident for tax or not. Tax Tools If you're uncertain about what tax you should pay I'd suggest you either contact the ato directly or seek the advice of an aussie taxation specialist. Pinhead, Great links...thanks Link to comment Share on other sites More sharing options...
Guest AnnieE Posted August 31, 2008 Share Posted August 31, 2008 Hi just thought I would share this with you - it may have some or no relevance at all. We migrated at the end of February 2008 on permenant resident 136 visa (so this may not be relevant to you - but will be to others). We just had to do our tax returns for 2007-08 and according to our accountant (who wasn't very pleasant) that because we hadn't been living in oz for 6 months or more we are liable for non-resident tax, which means we have to pay 22% for that tax year. Still not sure how accurate he is - but he made me feel very stupid when he said that everyone knew to arrive before christmas to be able to claim residency. So instead of getting some tax back we have a $700 tax bill. So I guess the moral is (if info is correct) only migrate between July and December! Link to comment Share on other sites More sharing options...
Guest AndrewL Posted September 1, 2008 Share Posted September 1, 2008 Hello, your accountant is wrong so please do not lodge your return under on that basis. You're a resident but you need to prorate your medicare levy liability and also your tax free threshold. Cheers, Andrew Hi just thought I would share this with you - it may have some or no relevance at all. We migrated at the end of February 2008 on permenant resident 136 visa (so this may not be relevant to you - but will be to others). We just had to do our tax returns for 2007-08 and according to our accountant (who wasn't very pleasant) that because we hadn't been living in oz for 6 months or more we are liable for non-resident tax, which means we have to pay 22% for that tax year. Still not sure how accurate he is - but he made me feel very stupid when he said that everyone knew to arrive before christmas to be able to claim residency. So instead of getting some tax back we have a $700 tax bill. So I guess the moral is (if info is correct) only migrate between July and December! Link to comment Share on other sites More sharing options...
suzy+1 Posted September 1, 2008 Share Posted September 1, 2008 Hi, have done my tax return for this year and on a 457 visa you are classed as a resident for tax purposes. (Lovely rebate-thanks very much!) Link to comment Share on other sites More sharing options...
Guest BullcreekBob Posted September 1, 2008 Share Posted September 1, 2008 G'day Annie he is wrong. I normally try to give my opinions rather than "advice". After all I charge for advice. However, from what you have told us, he is just plain and simply wrong. Go to another accountant and have the situation remedied. Cheers Bob in Bull Creek Hi just thought I would share this with you - it may have some or no relevance at all. We migrated at the end of February 2008 on permenant resident 136 visa (so this may not be relevant to you - but will be to others). We just had to do our tax returns for 2007-08 and according to our accountant (who wasn't very pleasant) that because we hadn't been living in oz for 6 months or more we are liable for non-resident tax, which means we have to pay 22% for that tax year. Still not sure how accurate he is - but he made me feel very stupid when he said that everyone knew to arrive before christmas to be able to claim residency. So instead of getting some tax back we have a $700 tax bill. So I guess the moral is (if info is correct) only migrate between July and December! Link to comment Share on other sites More sharing options...
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