What is a Tax Return?
Everybody that works in Australia will pay tax on their income. Depending on your visa status; different tax rates will apply. Working holiday makers are liable to pay 15% tax on every dollar from $1 - $37’000. The normal resident tax rates as per the ATO website will then apply on any income higher than 37’000. Taxes are automatically deducted from your pay if you are working under tax file number (TFN)
When you leave Australia, or at the end of the financial year (June 30), you can file your tax return and claim any overpayment of tax.
Who can claim taxback?
Any person that has legally worked in Australia.
June 30th is the end of the Australia’s financial year. Write it in your diary! You can apply for your tax return for any work that you have done in Australia between July 1st to June 30th.
What if I am leaving the country before June 30th?
If you are leaving Australia you can claim tax back at any time, as long as you will not be returning to work before June 30th.
What will I need for my Tax return?
- Tax File Number (this can usually be found on your pay slips or PAYG Summary)
- A PAYG Summary (also known as a Group Certificate) or your Final Pay Slip from each employer
At the end of the financial year your employer should give you a PAYG Summary. This is a summary of all work and tax deducted for that employer throughout the financial year. If you cannot find your documents, our recommended tax agent Taxback.com can help you retrieve them for an additional cost.
How long does it take?
It will usually take 2 – 4 weeks for you to receive your Australian tax refund once you have successfully lodged your application.
What is the average refund amount?
The average tax refund is around $2600.
How much does it cost?
If you have worked in Australia you are legally liable to submit a tax return. Most companies have a no refund, no fee policy. This means that you can register your details for free and if you are not entitled to a tax refund you will not need to pay a fee. You can apply for your refund for free online at www.ato.gov.au, however it can be extremely confusing! We recommend using a Tax Agent specialising in working holiday makers.
Taxback.com prices for working holiday makers are:
- If refund is under $1100, the fee is $99 + HF of $19.80
- If refund is over $1100, the fee is 9% of refund + HF (HF is 20% of the 9% fee for refund)
Can I have it returned into an overseas bank account?
Yes you can have your tax refund deposited into an international bank account. Please note an international bank transfer fee will apply.
What if I have lost my payslips?
You can ask your employer for a PAYG Summary at the end of the financial year. If you are missing this however most tax agents will help you retrieve the documents.
Chat to the staff at any of our Base hostels, or email [email protected] and we will help get you on your way.
- Fill out the forms provided along with any documents needed
- You will receive an estimated tax refund amount and provided with an online tracking code
- You will receive the refund within 2 – 4 weeks. This can be deposited into your Australian or overseas bank account*
*Tax Refunds can be deposited into an overseas bank account. This will incur an international transfer fee of around $40 and may take a little longer for processing
What is Superannuation and can I claim that back?
Usually if you earn more than $450 a month your employer will deposit 9.5% of your wage into your nominated Super fund. If you do not have a Super fund set up, your employer will normally nominate a fund for you. It is important to obtain the name and details of this fund from your employer.
Once you have left Australia you can claim a partial Superannuation refund. You can do this at any time during the year, as long as you are leaving Australia and not returning on the same visa.
How can I claim my partial Superannuation refund?
The application itself will be lodged after you leave Australia but you can fill out all the paperwork before you go. We recommend using Taxback.com to assist in claiming your superannuation.
But I am a Jobsearch Australia Member?
Lucky you! If you are a Jobsearch Australia member all you need to do is contact your local Jobsearch Australia specialist, or email [email protected]