Tax Return Information for International Students in Australia

Are you an international student in Australia or looking to migrate for studies soon? If yes, then it is
important to know about titbit of Australian Taxation System. Any international student, living in Australia from the past 6 months or more, are obliged to lodge their tax return as they become resident for tax purposes as per Australian Taxation Law. This implies that you need to pay tax on your income at the same rate as other Australian citizens do.

Moreover, if anyone is not working, still he needs to notify ATO about his working conditions by showing his zero income otherwise, he may be penalised.

The limit for a tax-free threshold is $18,200. If anyone has earned less than the threshold amount in the financial year, he might not require to pay tax but still must notify and do NIL lodgememet.

When Do I Need To Lodge?

An Australian financial year runs from the 1st July-30th June. Taxes can be lodged from June 30 onwards to October 31. In case, if anyone is taking an assistance of a tax consultant or agent, the deadline gets extended. However, if the course duration gets completed and one is planning to leave Australia before the end of financial year, get your tax return filed in advance and lodge it with the ATO.

How Do I Lodge A Tax Return?

There are two ways to lodge a tax return, either yourself or through a Tax agent. But, the most recommended one is through a registered Accountant, ensuring that the return is filed accurately with all the deductions one is entitled to.

What Includes My Tax Return Checklist?

  • Tax File Number
  • Bank details
  • Payment summaries from employers
  • Bank statements showing interest payments
  • Donation & work expense receipts

What If I Am Here For Less Than 6 Months?

If someone is enrolled for a study course with duration of less than six months, he still needs to lodge a tax return as a non-resident and won’t be entitled to a tax-free threshold and must pay tax at higher rates for the income earned during the stay.

For any professional help or advice with anything related to tax, feel free to contact our Tax consultants for better Accounting services at KPG Taxation.

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