Tax return in Australia
If you have worked in Australia and had taxes withheld, it is very probable that you have money waiting for you. The tax return It is the equivalent of the tax return, and for most international students, it ends in a refund.
Here is how it works, the deadlines, and the two ways to do it.
It is not necessary to have worked six months
It is a very widespread confusion. If taxes have been withheld from you, you can file the return, whether you have worked for two months or ten. In fact, if you have had income with tax withholding, you are usually required to file it.
The less you have earned, the more likely you are to get a refund, because withholding is usually higher than what you actually owe. Don't stop claiming thinking you aren't eligible.
Dates you need to keep clear
Australian financial year
July 1 – June 30
It does not coincide with the calendar year. Your return covers that period.
Deadline on your own
October 31
If you file yourself through myTax, that is the limit.
With registered agent
More margin
You can submit later, as long as you registered with the agent before October 31st.
If you leave Australia before June 30, can you file the advance tax return without waiting for the end of the fiscal year. It is what makes sense if you are not coming back.
Two ways to do it
Free option
On your own with myTax
Through myGov, the Australian Government portal. It's free and if your situation is simple (a single employer, only TFN, no ABN) it's entirely feasible.
- No cost
- Everything in English
- Strict deadline: October 31
- It is your responsibility to ensure the data is correct.
Rates depend on the service you need: TFN only, TFN plus ABN, Medicare exemption, or superannuation claim. You will see them when booking. If you don't know which one applies to you, ask us.
And don't forget about the superannuation
While you were working, your employer deposited a percentage of your salary into a pension fund. That money is yours and you can claim it when you permanently leave Australia. It is called DASP.
Watch out for withholding: it's not the same for everyone
If you have ever had a visa Working Holiday (417 or 462), the withholding on the taxable amount is 65%. For all other temporary visas, it is usually 35%.
And this surprises a lot of people: It is enough if part of the funds was generated during the Working Holiday. so that the 65% applies to the total, even though you'll later switch to a student visa.
Even so, claim it. It's your money that would otherwise remain locked in an Australian fund forever.
Only after leaving and with an expired visa
You must have left Australia and your temporary visa must have expired or been canceled. You cannot claim while you are there.
Don't leave it for more than six months
After that period from your departure, the fund transfers the balance to the public agency as unclaimed money. It can still be recovered, but the process becomes more complicated and it stops generating returns.
Claim it before any permanent residency
If you obtain Australian permanent residency, you permanently lose the right to the DASP and the money remains locked until retirement.
You might have funds you don't even remember
If you changed jobs several times, it is common to end up with a balance in several different funds. You have to claim from each one. Y&S locates them for you.
Frequently asked questions
How long do I have to have worked to make a claim?
There is no minimum. If taxes have been withheld from you, you can file a return. In fact, low income is when you are most likely to get a refund.
Can I lodge it from outside Australia?
Yes, both on your own and with an agent. If you leave before June 30th, you can also file it in advance without waiting for the end of the fiscal year.
How much are they going to refund me?
It depends on what you have earned, what has been withheld from you, and your tax situation. There is no standard figure, but if more was withheld than you owed, you get the difference back.
Is superannuation separate from the tax return?
Yes, they are two different procedures. The tax return is filed according to the tax year; the superannuation is claimed when you leave permanently and your visa has already expired. The DASP withholding tax is final and cannot be recovered by filing a tax return.
Do I need the payslip for the whole year?
It is best to keep all of them, even though your employers' data usually arrives automatically in the system. If you worked with an ABN or had multiple employers, having them on hand speeds up the process.
Guidance information. Tax conditions and withholding rates are set by the Australian Administration and are subject to change. For your specific case, consult a registered tax agent. This page includes partnership links with Y&S Accounting.