International Student
Taxation in Australian for overseas students
Are you come from overseas to study in Australia?
Do you know what you need to do for your money and tax issues in Australia?
Will you pay higher tax or lower tax is largely depend on if you are a "Resident for tax purpose", or NOT a "Resident for tax purpose".
The definition of "Resident for tax purpose" is not the same as Resident for immigration. For example, you can be holding a passport as an Australia Citizen but not a resident for tax purpose.
Step 1: Get your Tax File Number (TFN)
IF you study in a course more than 6 months in Australia, you will be regard as a "resident for tax purpose". It means you will enjoy a lower tax rates similar to people in Australia.
If you are looking for work, or if you have a bank account which will earn you interest. The first thing is you need to apply for a "Tax File Number" or TFN from the Australian Taxation Office. We provide this service to apply TFN for you with a very small charge.
Step 2: If I start a job tomorrow, my employer ask me to provide my Tax File Number (TFN)
If you are offered with the job, employer will give you the "Employment Declaration Form" to fill in. The form will have you and your employer's details. The completed form will be sent to Australian Taxation Office (ATO) by your employer, and you can asked your employer to give you a photocopy of the completed form.
Warning:- DO NOT fill in the form with your details until AFTER you have been given the job. You are not required to fill in this form at the time of your interview. You can take the blank form home to fill it in, and give it back to your employer when you start to work. In fact, the Tax Law allows you to provide your "Tax File Number" (TFN) to your employer within 28 days after you have commenced your job. Remember this, always keep your TFN safe.