How Much Tax A Taxpayer Is Obliged To Pay If A Taxpayer Is A Foreign Student?

1.Most of the foreign student taxpayer try to figure it out how much tax they will be obliged to pay when they will start working?

2.How can they apply for the TFN?

In this blog, we will provide you the important information (before you start working as a foreign student) from the ATO regarding paying taxes.

Follow the following ATO links for additional information.

Permission to work in Australia
According to the ATO guidelines, if you are a foreign resident, you must get permission from the Department of Home Affairs before you start working in Australia. Ministry of Home Affairs in Australia can provide you with useful information including which visas allow you to work in Australia.

What would be your next step?

  1. 1.Get a tax file number

The obvious next step is to get your tax file number (TFN). TFN is your personal tax file reference number related to tax matters. It is free to get a TFN. You should get a TFN before starting work, or soon after starting work, otherwise you will pay more tax. ATO issues TFN’s to individuals, businesses, and other organizations for unique identification and record-keeping purposes.

How you apply for your TFN will depend on your circumstances?

To find out more about how to apply? ctrl+click on the link below:

If you hold a temporary resident visa that allows you to work in Australia or you are migrating to Australia, you can apply for a TFN online.

To apply online, ctrl+click on the following link:

Keep your identity documents ready when you are applying for a TFN. When completing your application, you will need documents that prove your identity. It can take up to 28 days (from the date of application) until you will receive your TFN.

Why it is important to keep your TFN safe and secure?

TFN is your own Tax File Number for a lifetime which will be used for your tax-related matters. It can be misused by others if you disclose it to everyone. It becomes extremely important to keep it safe and secure. You will have the same TFN even if you change your name or address, change jobs, move interstate, or go overseas.

Do not let anyone else use your TFN, not even your friends or relatives. Allowing someone else to use it. It is a crime.

Only disclose your TFN to:

  • to your registered tax agent when discussing your tax matters.
  • your employer after you begin work, but do not provide it on job applications.
  • your bank or other financial institutions.
  • Services Australia.
  • your superannuation (super) fund.
  • your higher education provider or university to access a student loan such as the Higher Education Loan Program (HELP).

Report any loss, theft, or misuse of your TFN to ATO immediately by phoning 1800 467 033.

Keeping your TFN and other personal identity details secure helps prevent identity crime. Identity crime happens when people’s identity details are used to commit crimes. Scam emails, faxes, SMS and phone calls can look and sound very convincing. Do not include your TFN, passwords, or other sensitive information in emails or SMS. Be aware and if you are unsure you should communicate to the ATO. Phone ATO scam hotline 1800 008 540.

See also:

  • Protecting your information
  • Verify or report a scam
  • Identity crime
  • Scamwatch
  • External Link

Australian business numbers (ABN) for business.

Not everyone is entitled to or required an Australian business number (ABN) to work in Australia. Having an ABN means you:

  • are running your own business.
  • may pay tax on your business income.
  • may need to pay for your own super.
  • may not be insured if you are injured.

See also:
Australian Business Register (ABR).

  • For detailed info, visit our office at: 1/11 John Street, Pakenham VIC 3810, Australia.
  • Call 03 9706 9313, or book online at www.kpgtacation.com.au and your tax agent will be in touch to help.
  • Email: info@kpgtaxation.com.au

Consulting with KPG Taxation

Focus On Growing Your Business, Leave The Accounting On Us!

  • Income Tax : File your taxes & get the best claims & returns.
  • Accountancy : Hire expert accountants to manage your transactions.
  • Bookkeeping : Let us handle your record books and expense reports.
  • Business Advisory : From company set-up to payroll, we handle it all.