Hi, I am an international student who’s currently working part time. I have a couple questions regarding tax:
Thank you.
Hey there @frvncs,
You're pretty much spot on with this :)
1. If you're earning income from an Australian employer while on a student visa, you'll need to lodge an Australian tax return to declare your Australian sourced income. The first thing you should do is work out whether you're an Australian or Foreign resident for tax purposes, as this determines how your earnings will be taxed. Our online residency tool might help you with this. You'll also need to apply for a tax file number (TFN) if you haven't already got one.
2. If you're transferring personal savings between your own bank accounts (this includes if you've transferred amounts to cover your tuition), then these transferred amounts aren't taxable. However, if the transferred amount earns interest while being held in your Australian bank account, then the interest will need to be declared on your tax return.
Hey there @frvncs,
You're pretty much spot on with this :)
1. If you're earning income from an Australian employer while on a student visa, you'll need to lodge an Australian tax return to declare your Australian sourced income. The first thing you should do is work out whether you're an Australian or Foreign resident for tax purposes, as this determines how your earnings will be taxed. Our online residency tool might help you with this. You'll also need to apply for a tax file number (TFN) if you haven't already got one.
2. If you're transferring personal savings between your own bank accounts (this includes if you've transferred amounts to cover your tuition), then these transferred amounts aren't taxable. However, if the transferred amount earns interest while being held in your Australian bank account, then the interest will need to be declared on your tax return.
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