There are only two things in this world that you can’t avoid, death and taxes. Death is easy to understand, but the tax, you need to sit it down.
If you are planning to go for jobs in Australia, even if you are not really their citizen, you are required to pay your taxes. The Australian government is imposing taxation laws that ensures everyone getting income from companies in Australia complies to their responsibility. Violation of any laws will be apprehended by the government. And ignorance is not an excuse. So if you think your working visa to Australia is all-set to a mission, know first the taxation in Australia. This will make your stay hassle free.
Taxes in Australia mainly come from three sources: personal earnings, business earnings and capital gains. Since you are holding a working visa for Australia, you’ll be dealing with the personal earnings tax. First thing you need to do is get a Tax file number, issued by the Australian taxation office. All Australian citizens are required to apply for this. This is the only way you can receive your wages or salary, so obviously, it means that tax and income cannot live without the other.
As an overview for individual taxation, minors also have to pay for taxes, only that it is very much different with the payments for adult. Most Australians are also liable for Medicare levy that normally stands at 1.5% of taxable income. Just like in any other countries, taxes in Australia are refundable in the form of services like medical, health, infrastructure, education a lot more.
With the Australian Taxation Office, here are different ways for you to pay for your tax responsibilities. You can make payments directly from cheque or savings account using your financial institution’s telephone or internet banking service. Credit card is also a good form, conditions are being applied though. You can also pay through direct credit or debit. Mail is one of the oldest form. All you gotta do is mail your payment slip together with the cheque or money. Through Australia Post, Pay by cash, cheque or EFTPOS at your Post Office (subject to daily limits). Your payment slip must be presented with your payment.
Here are the individual tax income rates for Australian jobs:
Tax rates 2008-09
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