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Granted a Bridging Visa during the 2018-2019FY

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Hi I set my instalment rate 15% first because I was a working holiday maker first but I was granted a Bridging Visa A after 23rd April 2019. Do I need to change the percentage to 19% as a resident of Australia?? or do I just need to pay 15% for 2018-2019 FY and 19% for 2019-2020FY.

 

Thanks, 

 

 

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Hi @MrPenguin

 

Welcome to our Community!

 

We'd need to know some more information about your query to be able to assist you further, but it sounds as though you're referring to the Pay as you go instalment system whereby you're withholding your own tax from business or investment income. 

 

If this is the case and you're working as a contractor or for yourself, you can choose to vary your instalment rate (at any time on your Instalment activity statement) if your visa type changes or you're now considered a resident of Australia for tax purposes. 

 

When you lodge your income tax return we'll calculate your taxable income and the rate of tax you need to pay based on your total income and allowable deductions and if you've paid too much tax you'll receive a refund, but if you haven't paid enough you'll have an amount to pay. 

 

Let us know if you have further questions. 

 

Thanks, JodieH. 

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ATO Certified

Community Support

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Hi @MrPenguin

 

Welcome to our Community!

 

We'd need to know some more information about your query to be able to assist you further, but it sounds as though you're referring to the Pay as you go instalment system whereby you're withholding your own tax from business or investment income. 

 

If this is the case and you're working as a contractor or for yourself, you can choose to vary your instalment rate (at any time on your Instalment activity statement) if your visa type changes or you're now considered a resident of Australia for tax purposes. 

 

When you lodge your income tax return we'll calculate your taxable income and the rate of tax you need to pay based on your total income and allowable deductions and if you've paid too much tax you'll receive a refund, but if you haven't paid enough you'll have an amount to pay. 

 

Let us know if you have further questions. 

 

Thanks, JodieH. 

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