How to Get Tax Back for Temporary Residents in Australia
Even if you are no longer an Australian resident, you can still file tax return papers if you want to get tax refund for the period you were working here. But for that, you will have to follow certain procedures throughout from the very beginning.
How to get More from your Tax Returns
It is difficult for temporary workers to get substantial online tax returns as non-resident Australians do not enjoy any tax-free threshold on their income unlike Australian residents. So every dollar you earn as a temporary worker is taxable. Even then there are a few ways by which you can get some extra money under your tax refund claims.
Apply for Medicare Levy Exemption
As a temporary resident, you are not entitled to any medicare benefit under the Australian government’s public healthcare system. However, a medicare levy is incorporated into your tax structure and is automatically deducted from your total income when your taxes are calculated by your employer. This deduction can start at 1% and go up to 1.5% in case you belong to high income category.
So while filing for tax returns, you must as a temporary worker claim refund of this medicare levy and any surcharge related to it. however, some countries have a reciprocal healthcare agreement with Australia and if you are resident of these nations, you cannot claim refund of medicare levy.
Consolidate all your Superannuation Accounts
Superannuation contribution by employers currently run at 9% of employee salary which is set to increase to 9.25% from 1st July 2013 and is expected to go up to 12% by the year 2019. This is not a measly amount, especially if you have multiple superannuation accounts. By consolidating all of them you can certainly funnel some extra cash into your bank account.
Working hostel in Australia offers cheap accommodation for temporary workers.
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