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Ann4(Champion)Champion
13 Oct 2024

  • There was a tax payer who was a Australian Resident till Feb 2024 and after that she moved to UK and started working there and she has became a resident in UK.
  • Once preparing TR of her ,we have updated everything including Medicare Exemptions, pro rata basic tax exemptions etc.
  • And the question is she had a HELP Loan at the beginning of the year & for the repayment purpose we have to declare the foreign income ? and how to record it in TR?


 

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119 views
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RachATO(Community Support)Community Support
14 Oct 2024

 

Hey @Ann4,

 

It all depends on how much worldwide income she's earned after it's converted to Australian dollars.

 

- Less than $12,887 she can submit a non-lodgement advice because it's under the minimum repayment threshold. But check the 'Do I need to lodge' tool just in case there's another reason to lodge.

 

- Over $12,887 worldwide income can be reported through ATO online services by following: Tax > Lodgements > Report worldwide income, aaand also check the 'do I need to lodge' tool for any other reporting requirements.

 

If she doesn't have access to ATO online services, a registered tax agent can do all of this. The Non-resident section should have all the info she needs 🙂

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Most helpful reply

RachATO(Community Support)Community Support
14 Oct 2024

 

Hey @Ann4,

 

It all depends on how much worldwide income she's earned after it's converted to Australian dollars.

 

- Less than $12,887 she can submit a non-lodgement advice because it's under the minimum repayment threshold. But check the 'Do I need to lodge' tool just in case there's another reason to lodge.

 

- Over $12,887 worldwide income can be reported through ATO online services by following: Tax > Lodgements > Report worldwide income, aaand also check the 'do I need to lodge' tool for any other reporting requirements.

 

If she doesn't have access to ATO online services, a registered tax agent can do all of this. The Non-resident section should have all the info she needs 🙂

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