Tax

[Lucea]

Hi everyone

Hope someone can help me. We arrived in March 2012 and end of June 2012 will thus be our first Oz tax return which we need to submit.

From what I understand we also need to declare our salary earned in SA before we arrived, however, wont be taxed on it as we were taxed in SA.

My question is, when we complete our Oz tax returns, how do we provide this info and the necessary documentation to proof our SA income and the related tax paid as the tax years between SA and Oz differs. do we just estimate the amounts? Can anyone also recommend a tax consultant in the Northern suburbs of Perth?

Your assistance will be greatly appreciated. (although I used to lecture tax in SA, i dont know much about Oz-tax.)

[Aneldari]

Hi

You do not need to declare any salary from RSA on your Aus Tax Return.

We arrived in Feb. 07' and of course had to submit a Aus Tax Return that year and we never mentioned any of our RSA salaries.

If this has changed please correct me, but I do not think it has.

Cheers

Aneldari

[Mara]

As you were not tax resident in Australia, BEFORE you arrived, there is no need to declare your RSA income. HOWEVER, if you have received rent for a house or any other income in RSA, since you arrived in Aus, then you need to declare that income.

[OzzieKaner]

Hi,

I can highly recommend recommend Hennie Joubert in Joondalup, Perth. Pvt mail me if you want and I can send you his e-mail and number. Tell him Studio 777 referred you. He knows me well. He does all our business as well as private tax. All insurance needs are met by Gavin Bramly that's located at Hennies office. Hope I'm allowed to say stuff like this. If not, sorry.

[AfriAus]

On the flip side, would you declare your AUS income in your SARS Feb 2013 tax return?

[Gerhardk]

My understanding is as follows:

If you are on a 457 type visa you will be classified as a 'temporary resident' and special rules apply. If you are a permanent resident then the day you arrived in Australia is the day you must start declaring income in Australia - assuming you did not own property before you arrived etc. You will most likely be a dual resident for a number of years but since you are present in Australia, Australia will have preference to tax.

As noted above, all income earned from the day you became an Australian resident, irrespective of source, must be declared and you will be assessed on. This will include interest income, rental income / loss and even business / professional income you may earn in Australia.

For Centrelink purposes, you have to declare your income from 1 July 2011 to 30 June 2012, irrespective of where you earned it, to calculate your eligibility for any benefits. Your salary in ZAR will have to be converted to AUD etc.

Keep in mind that if you cease to be a resident of South Africa and still have assets there such as property, it may trigger a deemed disposal for capital gains tax purposes and a corresponding gain without the cashflow! Similarly when arriving in Australia you will obtain a cost base for CGT purposes based on the market value of the property.

[IngiLiebenberg]

Where can i get tax tables (i.e. if package offered is $x... + Super, what will one take home?)

This is on a PR175

Thanks,

Edited October 4, 2012 by IngiLiebenberg

[21yearsoutofrsa]

this should help

http://www.ato.gov.au/businesses/content.aspx?doc=/content/33283.htm&alias=taxtables

[Rover]

The above should be more accurate, this is semi-idiotproof: http://www.paycalculator.com.au/

(Thus intended for people like me)

Edited October 4, 2012 by Rover

[Mara]

Rover, I like that link of yours, excellent!

[RichtB]

If one has PR and is resident in Australia, and a monthly pension is paid into a bank account in Australia. Will you pay income tax in Australia or South Africa?

[Mara]

RichtB, I am guessing that the pension you are talking about is coming from South Africa? Yes, you have to declare it as an income and yes, if it falls within your taxable income, which requires tax to be paid, then yes you will be taxed on it.

[21yearsoutofrsa]

but any taxes paid in RSA will be deducted from your Australian taxes, so you will not be double taxed.

[RichtB]

Thanks for the info Mara & 10yearsoutofsa.

Yes the pension will be coming from RSA. I also understood that receiving it in Aus (paid into my bank account) will make it taxable in Aus only, once I have changed the bank account from RSA to Aus (lengthy process).