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Re: What is my accessible income in Australia?

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Newbie

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I have a question about my friend’s accessible incomes in Australia as she is in overseas now and needs to do tax return for 2018/19 financial year

 

Background: Sarah is holding a Malaysia passport arrived in Australia since January 20156 with a relevant working visa and started work as an administrator in a Melbourne hospital.

 

On 10 July 2018, she travelled back to the MALAYSIA for personal reasons and worked in odd jobs until 1 April 2019 when she returned to Melbourne and resumed her position at the hospital. While in the MALAYSIA she continued to maintain the apartment she had bought in Melbourne and her Australian bank account. She was on “leave without pay” from her job at the hospital.

Her income for the 2018/2019 as follows:

MALAYSIA: Yvonne was paid AUD$25,000 (gross) for her work in the MALAYSIA, tax of AUD$4,500 was deducted from her salary

AUSTRALIA: -$15,000 for her work as an administrator in Australia.

        - a bonus of $12,000 on 15 February 2018 for her work done during 2017.

        - $2,000 interest on the savings in her Australian bank account

        - a fully franked dividend of $700 from her share investments in the Australian company

Question:

- Calculate her Australian assessable income for the 2018/19 tax years.

- Advise Sarah regarding foreign tax paid in Malaysia for the 2018/10 tax year only. Calculate the tax offset amount.

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Devotee

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You need to read up the rules around "residency" for this.

 

If your friend is a resident of Australia (which is different to citizen), then they are generally taxed on all income earned worldwide. If not a resident of Australia, then only income derived in Australia is taxed.

 

I suggest you go see a professional with experience in this area.

1 REPLY 1
Highlighted

Most helpful response

Devotee

Replies 0

You need to read up the rules around "residency" for this.

 

If your friend is a resident of Australia (which is different to citizen), then they are generally taxed on all income earned worldwide. If not a resident of Australia, then only income derived in Australia is taxed.

 

I suggest you go see a professional with experience in this area.