Common sense of tax filing for new immigrants in Australia

As we all know, Australia's high welfare is in the forefront of the world, which also attracts a large number of immigrants to Australia. However, Australia's tax filing policy is a major concern for taxpayers. The following is the common sense of tax return for new immigrants in Australia. Welcome to read!

Common sense of tax declaration for new immigrants in Australia

In recent years, in order to make up the fiscal deficit, the Australian federal government has collected taxes through various channels, and the tax amount has gradually increased. In addition, the Australian Taxation Office (ATO) has also strengthened its supervision over the overseas income of Australian citizens. With the rapid development of technology and the increasingly powerful network world, the relationship between ATO and taxpayers will become closer and closer, so taxpayers should start to care about and manage their own financial situation. However, even if taxpayers want to pay taxes honestly, they will feel distressed in the face of complicated and incomprehensible Australian tax policies. Therefore, most immigrants who land in Australia will choose credible tax agents to help them manage their taxes and make appropriate financial plans. However, taxpayers themselves need to know some basic knowledge of Australian taxation in order to be reasonable and legal in their daily economic activities.

First of all, after landing in Australia, the first time is to register a tax number. The tax number is a code owned by individuals and institutions in Australia, which is not mandatory, but it will be more convenient to live in Australia with the tax number. With the tax number, you can file tax returns, apply for benefits, be included in the PAYG system at work, get a salary, open a pension account, and so on. On the contrary, if there is no tax number, you will be deducted more taxes and fees in some economic activities, and some social welfare will also shut you out.

Secondly, judge whether you are a tax resident of Australia. Usually, the tax bureau will give two basic criteria: first, whether the number of days you stay in Australia is 183 days; Second, your family, economic exchanges, social relations and the closeness of Australia. Generally speaking, the second article needs to be ruled by the tax bureau, which is highly subjective. So in some cases, even if the number of days is not full, ATO will consider your frequent economic behavior in Australia or other factors and list you as a tax resident.

Finally, choose the appropriate way to apply for the tax number. If you are a permanent or temporary visa holder, you can apply for the tax number directly on ATO after landing in Australia. In addition, you can download the form and mail the application, or even apply directly at the office of the Australian Taxation Bureau. Under normal circumstances, you can receive the tax number within 28 days of online application.

After long-term development, Australia's tax system is relatively perfect, and its unique tax management system and strict and effective tax inspection mechanism are the guarantee for the smooth implementation of the tax system. Australia has signed an agreement with China to avoid double taxation. If the overseas income of Australian tax residents has already paid corresponding taxes in China, they can deduct certain taxes in Australia to prevent double taxation. This means that if a taxpayer has paid income tax on his overseas income, he only needs to pay the difference between Australian and overseas taxes; However, if the overseas tax is higher than the Australian tax, ATO will not refund the extra tax.

In short, Australia's tax policy will tend to be strict, and Australian immigrants should pay more attention to the changes and updates of Australian tax terms when paying taxes and avoiding taxes! If you don't know how to file tax returns, taxpayers can make reasonable financial planning with the help of professionals, so that they and their families can have a better life in Australia.

Chapter II Extended Reading: Australian Immigration Strategy

In the past fiscal year, about 5,000 people applied for Australian 188A business visas every year, of which 60%-70% were from China. The most attractive project for reopening in the new fiscal year is 188A with the lowest investment. Its popularity is attributed to its high cost performance and low application threshold. You only need to invest 200,000 Australian dollars to immigrate to Australia. According to the current exchange rate trend, you can start new business in Australia with less than 1 10,000 RMB.

Many people say that Australian immigrant 188A business visa is the exclusive channel for small business owners to move to Australia, not only because it has low requirements for applicants and domestic enterprises, but also for enterprises that are about to invest in Australia. Investors can choose to set up a new company in Australia, buy an existing company, or invest in an existing company to meet the investment requirements of the Immigration Bureau.

Of course, investors care about the enterprise itself. Some people worry that it is difficult to start a business in Australia, while others worry about the safety of their own funds.

First of all, it is necessary to make sure that Australian entrepreneurial immigrants follow the principle of "taking status first and then investing", that is, investors complete their investment in Australia after obtaining residence permits. Prior to this, the applicant only needs to bear the corresponding national guarantee application fee, visa application fee, medical examination fee and other related expenses, and there will be no situation of "investing money but not getting it".

So what did this A $200,000 get? Is the identity of the whole family+children's free public education+comprehensive medical insurance+overseas business development, this kind of business plan is not cost-effective, smart business owners in China must have a plan in mind.