Happy New Year All! Hopefully 2015 is being good to everyone so far – the Australian taxback.com offices are back to work since the 2nd January and we are back with a bang as there seems to be lots of people on the move .
With this we just wanted to share with you all some information that will help you boost your travel budget if you are leaving Australia in the coming weeks/months.
Lots of people who have been coming in to see us recently have been very concerned about how they will be able to sort all their tax affairs at the end of June as they will not be in Australia anymore – when we then tell them that they don’t need to wait until June the reactions are priceless!
Early Tax Assessment
If you are currently in Australia and have been working in the 2015 (1st July 2014 to 30th June 2015) and are planning on leaving Oz before June they you are able to file for your income tax now via what is called an Early Assessment. An early assessment is a paper tax return which will take 6-8 weeks to be processed but it means that you will have the refund well in advance of June and can use this money to then get yourself set up back home or indeed if you are continuing on your travels this refund will allow you to knock some more items off that bucket list!
There is nothing different in organising an early assessment over a traditional year-end refund other than we need the original signed paperwork as this is a paper application to the ATO so it can be easier to pop in and see us before you leave at one of our 7 offices across Australia.
The other items that you will need to arrange this are:
- Final year to date payslip for all jobs from July 2014
- Copy of photo ID
- All work related expenses incurred from July 2014
The average tax refund Down Under is AU$2600
Claiming your superannuation
The other great news for all those who are finishing their time here in Australia is that you are able to now also claim your superannuation – this is pending that you are on a temporary visas to Australia such as a working holiday or a 457 sponsorship, anyone that has a PR visa will not be able to file for superannuation.
This application again requires original paperwork to be completed and can all be done at the same time as early assessment if you pop into one of the offices.
There are some additional requirements for superannuation detailed below:
- Expired Visa – in order to be able to file for a superannuation refund you need to be able to demonstrate that your visa has expired, if you are leaving Oz and still have a couple of months on your visa this is not a problem as we can cancel your visa in order to get your application started sooner.
- Certified Documents – each superannuation fund in Australia has individual requirement on what is needed to claim your funds but most will at least require that you have a certified passport copy attached to the application. By certified this means that you need to have your passport witnessed by a person from a profession as set out by your fund, for example those who might be with Kinetic will need to have your passport signed by a police officer. It is very important to stress that each fund is different in their requirements so if you have more than one fund it is important to know what is needed for both and this is something we can advise you on.