Category: Taxation
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Australian Income Tax on UK Age Pension
Income Tax on a UK Age Pension received in Australia
When you retire in Australia, and also receive a UK pension, this pension will be included in your taxable income, and taxed at normal rates, based on the tax band… Read the restAustralian Income Tax Rates 2018-2019
Income Tax in Australia 2018 – 2019
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the restIncome Tax in Australia 2018 – 2019
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the restAustralian Tax on Overseas Purchases
How Much Tax is Paid when Buying from Overseas
When buying goods from overseas there is a consideration for Import duty and taxes for those goods. There is also a processing charge for making an Import Declaration. However, there is… Read the rest
How Much Tax is Paid when Buying from Overseas
When buying goods from overseas there is a consideration for Import duty and taxes for those goods. There is also a processing charge for making an Import Declaration. However, there is… Read the restIncome Tax Rates for Foreign Residents in Australia
Income Tax Rates for Foreigners not Tax Resident in Australia
Different Tax Rules apply for individuals who are ‘foreign residents for tax purposes’ in AustraliaThe 2016-17 Non Tax Resident TAX rates are:
32.5c for each $1 on incomes up… Read the rest
Income Tax Rates for Foreigners not Tax Resident in Australia
Different Tax Rules apply for individuals who are ‘foreign residents for tax purposes’ in AustraliaThe 2016-17 Non Tax Resident TAX rates are:
32.5c for each $1 on incomes up… Read the restIncome Tax Rates 2016-2017
Income Tax in Australia 2016 – 2017
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the rest
Income Tax in Australia 2016 – 2017
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the restMedicare Levy Threshold 2015-16
No Medicare Levy if Income under $21,335 for the 2015-16 tax year
Medicare levy reduction for low-income earners Your Medicare levy is reduced if your taxable income is below a certain threshold and, in some cases, you may not have… Read the rest
No Medicare Levy if Income under $21,335 for the 2015-16 tax year
Medicare levy reduction for low-income earners Your Medicare levy is reduced if your taxable income is below a certain threshold and, in some cases, you may not have… Read the restTax on Foreign Income When Migrating to Australia
ATO Tax on Foreign Income When Migrating to Australia
The Australian Tax Office [ATO] has a 183 day rule: This is a statutory test to see if you are actually present in Australia for more than half the income year,… Read the restUK Tax Office to get Automatic Shared data from Australia
Australia will soon be automatically sharing Financial Data with UK
Automatic information-sharing between banks across the world means HM Revenue & Customs will soon be able to catch evaders almost anywhere. More than 90 jurisdictions (INCLUDING AUSTRALIA) will begin to… Read the restTax when Retiring in Australia
When a Brit retires in Australia, as a resident, and has a UK pension, either State or Private, this will be taxed in Australia. (The same as any other income).
To ensure that this income is NOT taxed in BOTH… Read the rest
Income Tax Rates 2015-2016
Income Tax in Australia 2015 – 2016
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the rest
Income Tax in Australia 2015 – 2016
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This… Read the restMedicare Levy rate to rise to 2%
Changes to the Medicare Levy in the Australian Budget 2013-14
The Government will increase the Medicare levy by half a percentage point from 1.5 to 2 per cent from 1 July 2014 to provide strong and stable funding for DisabilityCare… Read the rest
Medical Tax Offset
Medical Tax Offset
The Net Medical Expense Tax Offset (NMETO) is to be phased out, and only the taxpayers who claim the offset for the 2012-2013 income year will be eligible to claim in future years. By 2019 this will… Read the rest
Income Tax
Income Tax in Australia
2013-2014 Tax Rates for Earners classed as Tax-Resident Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $80,000 $3,572 plus 32.5c for each $1… Read the restLow Income Tax Offset
The Low Income Tax Offset in Australia
The Low Income Tax Offset (LITO) is a rebate calculated at the end of the tax year to ensure that people on a low taxable income pay little or no tax.
2013-2014
There… Read the rest
Income Tax Rates 2014-2015
Income Tax in Australia
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income. If the annual income is $37,000 then the tax payable is $3,572. This is 9.65%. At… Read the restHistoric Australian Tax Rates
Historic Income Tax rates in Australia
Tax Rates for the year 2014/2015
Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $80,000 $3,572 plus 32.5c for each $1… Read the restMedicare Levy and Surcharge
Medicare Levy in Australia
Medicare Levy
A Medicare Levy, currently at 2.0% of income, is charged to Individuals. (From 1 July 2014 the Medicare levy rose from 1.5% to 2.0%) In a similar way to the UK “National Insurance Contributions”,… Read the restTax Returns
Tax Returns in Australia
You need to Lodge a tax Return every Year
If you prepare and lodge your own tax return, the lodgment deadline is 31st October, ie: FOUR months after the tax year ends on June 30th.
If… Read the rest
Superannuation and Retirement in Australia
Superannuation and Retirement in Australia
A good website to view is www.seniors.gov.au where I found this quote: There is no statutory retirement age in Australia.
www.britzinoz.com/compulsory-superannuation-scheme-in-australia
In prior years, very few Australians over 50 waited until qualifying for the Age… Read the rest