The Tax Return is a mandatory process for all workers in Australia, including foreigners. In simple terms, it involves declaring your annual income and the taxes you’ve paid during the fiscal year (from July 1 to June 30). To help you understand it better, here’s everything you need to know to comply with this process:
Who must file a tax return?
Generally speaking, all workers in Australia who generate income are required to file a tax return, including those under a temporary work visa.
Important: However, keep in mind that, if your total income is below the tax threshold, you may not have to pay taxes. Nonetheless, you are still required to file your return.
Useful tips:
– Keep all your documents: Save digital and physical copies of your receipts, payment summaries, and any other tax documents.
– Consult an expert: If you have questions about your tax situation or how to maximize your refund, seek professional help.
– Avoid Early Tax Return: Filing your return before the fiscal year ends can result in errors or smaller refunds.
Don’t hesitate to contact us if you have any questions.
