Tax Saving Tips For Expatriate Working In Australia

Tax Saving Tips For Expatriate Working In Australia

by

smithcalvin

If you not a resident of Australia and planning to seek an employment here then it is strongly recommended to seek for an expert advice on your Australian taxation obligation . Expatriates working here mostly prone to income tax on their Australian sourced income. Except from your wages and

Salaries it also targets on your dividends that have source within Australia.

Being a resident of Australia you need to pay Individual Tax Services which depends on your circumstances and needs to reviewed case by case basis. If you need to pay Australian income tax it is important to keep in mind that Australian tax finishes by June 30 and you need to lodge an income tax return by 31 October. If you hire a tax agent or account then they are eligible to log your extensions.

If you are expatriates then you need to understand number of consideration when you are negotiating your employment contract as this will help you legally to minimizing your tax. If you are expat and do not have knowledge that how you will minimize you tax then don t worry and continue reading with it as following I am going to these points in detail and I am sure that it will be very helpful for you as I have years of experience in providing Expatriate Tax Services.

Living away from home allowance (LAFHA) and motor vehicles allowance are the two significant tax saving allowance that can comes under \”salary packaged\”. Living away from home allowance is specially made for expatriates to compensate them additional costs of moving resident and it provides them tax break for food and rent same as LAFHA motor vehicles allowance will also be helpful in tax saving for them.

Many Expat are not aware that expenses on deriving your income can also be claimed, like you can claim you depreciation on your internet, professional subscriptions and note book and it will reduce your taxable income. It is important point and mostly people are not aware of this.

You can also reduce your tax by number of tax rebates and it will save your thousands of dollars that you never expect but for that you need to consult a tax expert to assist you well and if you are looking for best and affordable Individual Tax Service provider then you can visit to usautax.com

Superannuation system is compulsory in Australia it is a system whereby your employer is required to contribute a percentage of your income into an Australian registered superannuation fund.

If you find that your employer making these contribution then you can claim it back when you are leaving Australia permanently.

Hoping that all these points will help you in saving your hard earn money.

Thomas M Carden EA JSM Thomas is a director at United States Australia Tax Service. USAUTAX.COM He enrolled to practice before the Internal Revenue Service. He has over 17 years of Tax and Financial Industry experience. If you are looking for Internal Revenue Service or any question for Expatriate Tax Services or you are looking for Individual Tax Services then Article Source: ArticleRich.com