Whoever can claim Tax Refund at the end of financial year (June 30th), when tax from your wages have been deducted by your employer.
Based on 2015 financial year (July 1st 2014-June 30th 2015), if your total gross income is less than $20,500, you will get full tax refund.
Ex) total gross taxable income $18,500 Total tax withheld $5,365 ---> Tax refund will be $5,365
* Australian Resident / Non resident
If you live and work in Australia more than 183 days (2014-2015), you are resident.
Resident is eligible to claim tax return.
Why do your tax return at Good Tax Back?
How much does it cost?
Our low fix fee $49 (student visa & workingholiday visa holder only)
(clients who have Total gross payments less than $20,500)
Medicare levy fee $30
(person who has more than income $21,000 only)
Australian Citzens , New zealand Citzens, Permanent Australian Residents From $70 ~
What is a Medicare levy?
Every Australian resident has to pay a Medicare levy that amounts to 1.5% of their taxable income. However, it is possible to qualify for a reduction or exemption.
First of all, if you are a nonresident for tax purposes, you do not need to pay the Medicare levy.
If you are an Australian resident, you may be able to pay a reduced Medicare levy if your income is more than $21,000 Slightly higher thresholds apply to taxpayers who qualify for the senior Australians tax offset and the pensioner tax offset.
If your taxable income is equal to or less than the lower threshold amount ($18,839) you may be exempt from the Medicare levy entirely.
How do I know if I'm a resident or non-resident for tax purposes?
The issue of residency in Australia can be complicated when it comes to getting backpackers’ tax back and it’s important to get your residency status correct when you are filing for your Australian tax refund.
In general, regardless of your visa type (e.g. Working Holiday Maker visa, student visa, 457 Sponsorship visa etc.), you can be deemed a resident for tax purposes in Oz if you can show that you have been living and working in the same location for a period of more than 6 months (183 days to be exact!).
Your residency status for tax purposes is important because it helps determine your liability to pay Australian income tax.
If you're an Australian resident for tax purposes, you:
- are entitled to the tax-free threshold
- can claim tax offsets
- generally have lower tax rates than a foreign resident.
How long does it take?
The processing time of the Australian tax returns varies depending on a number of factors, including the time of year the tax return is submitted.
For the financial year ended 30 June 2013 and earlier, most refunds are being forwarded within 7-10 working days.
What documents do I need?
Our office will require a copy of your PAYG payment summary or a Statement of earnings or your final payslip.
If you have incurred tax deductable expenses in relation to your employment and you have kept the receipts, just tally them and list them