Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
I am australian citizen now, but 10 years ago I was leaving and working overseas. I recently received a payment from an employer I was working with before to come here. I thought that money will be lost but now it is sitting into and account in my name overseas and I want to bring that money here. My question is, Do I have to pay tax over that amount? If so How much it will be?. The amount I want to bring is US$20,000.00. Thanks