After another month, it is time for us to return taxes, every time, students should be the most worried time, also do not know whether to return taxes, wages are not paid, spend a lot of money.
We are here to advise you to declare your own taxes, or to find an accountant to help you with your tax returns, otherwise, it may be you who will be investigated.
The Australian Inland Revenue Authority will start a major tax review of all visa holders this year, with or without tax returns likely to be put on the list.
What's more, they don't just check for one year, they check for nearly five years!
In early 2017, ATO conducted tax review. across Australia for small businesses such as restaurants, cafes and nail salons.
After this inspection, ATO got a little angry. They made up their mind to crack down on tax evasion, so they decided to step up their inspections. The strictest thing they check is foreigners in Australia who hold visas.
Any form of income of an individual must be taxed, including even overseas income.
For example, if you work while studying abroad, you don't have to pay tax when your annual income is less than $18200, but you have to report your income to ATO;.
If foreign students do not work, but there are bank deposits, the interest income generated by the deposit must also be returned to tax.
So everyone in the tax return time hurriedly can return the tax report, or call you to check you ah.