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Payment and taxes in Australia


Payment and taxes in Australia

Most Australian employers pay via direct deposit to Australian bank accounts. Open a bank account as soon as you arrive. Your passport will not be enough ID to open a bank account. You will need to show the bank teller 100 points of ID . As soon as you have an address it is wise to apply for a Tax File Number (TFN). You can apply for it online (though, only in Australia) for free at the Australian Tax Office website , though you can generally get it quicker if you just go to one of their offices. The Australian financial year runs from July 1 to June 30, and tax returns for each financial year are due on October 30, four months after the accounting period concludes. Check with Australian tax agents about Australian tax liability and filing an Australian tax return. Australian employers will make compulsory payments out of your earnings to an Australian superannuation (retirement savings) fund on your behalf. Temporary visitors who are not citizens of either Australia or New Zealand can have this money returned to them when they leave Australia.

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Australia Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.

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