02Feb 2018 by roxyprophet
What are Australian Work Essentials?

What are Australian Work Essentials?

Super, Tax, Work Essentials
Three things you can’t get a job without. What are Work Essentials? Other than the visa itself, the following basics are the most important things to know and understand how to set up and use right before you leave.  Without them, you can’t work in Australia.Australian Bank Account – Employers won’t pay into a foreign account and you can earn interest when transferring large sums of money into a savings account. Tax File Number (TFN) – Without a TFN you will be on an emergency tax number and taxed double. Superannuation (Your pension) – All Australian companies have to legally contribute to your pension while you work, so it’s important to set up a pension with a good company.Basics you need to set-up and understand before applying for your Work EssentialsBefore you…
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27Jan 2018 by roxyprophet
How to apply for an Australian Tax File Number (TFN)

How to apply for an Australian Tax File Number (TFN)

Tax, Work Essentials
A tax file number (TFN) is your unique identifier. It is issued by the Australian Taxation Office (ATO) to any individual, company, Superannuation fund, partnership or trust who pays tax.Your employer will give you a tax declaration form to fill out when you start work. Make sure you include your TFN and so they pay tax to the ATO on your behalf.Tip: You should apply for a Tax File Number within the first two weeks of landing in Australia or you won’t be able to do it online. (more…)
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26Jan 2018 by roxyprophet
Using your Tax File Number (TFN) right

Using your Tax File Number (TFN) right

Tax, Work Essentials
To make full use of your Tax File Number (TFN), link it to the following services (which can help your tax return), make sure none of your information gets lost and save yourself unwanted tax charges. By using your Tax File Number (TFN) to link these services, you are connecting it to all of this information for the Australian Tax Office (ATO) to keep track of you and the costs you need to/can claim back.Link your Australian bank account & TFN:Provide your TFN to your Australian bank account so that your bank pays tax to ATO out of your interest and payments.If you don’t link your bank account to your TFN, the bank will pay the highest marginal tax rate out of your payments. Therefore, even if you don’t lodge a…
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22Jan 2018 by roxyprophet
Everything you need to know about lodging a Tax Return as a Working Holidaymaker

Everything you need to know about lodging a Tax Return as a Working Holidaymaker

Tax, Work Essentials
Before lodging your tax return it’s important you know and understand the answers to the following three questions about tax residency and the Australian tax system: YOUR TAX RESIDENCY:1 - What is the difference between an Australian resident for tax purposes and a foreign resident for tax purposes?2 - Are you an Australian or foreign resident for tax purposes?TAX SYSTEM CHANGES:3 - How do the changes to the tax system on January 1st 2017 affect my tax return as a Working Holidaymaker? Keep reading to uncover a full step-by-step guide that answers the above questions and explains why they are important to you as a Working Holidaymaker. Then, at the end of this guide, download a full step-by-step checklist to help you lodge your return.By following this guide, you can make sure you are completely…
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