FAQs - Associates

What is Superannuation (Super) and is it compulsory ?

Superannuation (Super) is a compulsory retirement contribution made by your employer that has been calculated into your salary package ie. hourly rate. It is calculated at 9.5% of your taxable salary. Your super contributions can be claimed back when you leave Australia, however, fund fees and tax in lieu will apply.

For more information about superannuation and GN Australia nominated Super Fund Visit www.ato.gov.au or contact us on 02 8022 8000

What is a Tax File Number (TFN) ?

A Tax File Number (TFN) is a 9 digit number issued by the Australian Taxation Office (ATO) to each taxpayer (individual, company, superannuation fund, partnership or trust) to identify that taxpayer's Australian tax dealings.

Why you need a TFN ?

A TFN enables you to:

  • lodge a tax return
  • make or receive payments under the Pay As You Go (PAYG) withholding system
  • start work or change jobs
  • submit a Tax file number declaration or a Withholding declaration form
  • have savings accounts or investments that earn income
  • join a superannuation fund

Applying for a TFN ?

If you are a temporary visitor to Australia you can apply for a TFN online at any time after entering Australia.

This option is available if you:

  • are a working holidaymaker
  • are an overseas student
  • have a valid visa allowing you to stay in Australia indefinitely
  • have a business visa
  • are a New Zealand citizen

To apply online, you need a valid passport or relevant travel documents and must be authorised to work in Australia by the Department of Immigration and Boarder Protection (DIBP).

When can you expect your TFN ?

You will receive your TFN no more than 28 days after the ATO receives your completed application and required documents. They will forward your TFN to the postal address on your application.

Am I an Australian resident or non-resident for tax purposes ?

Generally, you are an Australian resident for tax purposes if you:

  • have always lived in Australia
  • have been in Australia for more than half of the income year, or
  • are an overseas student enrolled in a course of study for more than six months duration.

If you do not qualify for resident tax status then you must claim ‘non-resident’ when filling in your tax file declaration form and tax return.

The tax rates that apply to your taxable income depends on whether or not you are an Australian resident. A higher rate of tax is applied to a non-resident’s taxable income and non-residents are not entitled to a tax-free threshold.

Visit the following ATO site and complete the online questionnaire to determine which tax status you qualify for (takes approximately 1 minute to complete):

http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=Resident.XR4&go=ok

If you are a working holidaymaker, do you have to lodge a tax return ?

If you earn income in Australia you are required to lodge a tax return.

A Tax Return is the procedure followed to declare your earnings and tax paid in any given Australian Tax Year and needs to be lodged by 31st October.

The Australian tax year is from 01st July to 30th June

Visit www.ato.gov.au or contact us on 02 8022 8000 for more information

How can I extend my working holiday visa ?

You cannot extend your working holiday visa however you may be able to apply for a second working holiday visa. To be eligible for a second working holiday visa you must meet a number of requirements. You may apply either while you still hold a first working holiday visa or at a later date.

You must:

  • have completed three months of specified work in regional Australia while on your first working holiday visa
  • not have previously entered Australia on a work and holiday 417 visa
  • be aged between 18 and 30 years
  • apply no more than twelve months before you intend to travel
  • will not be accompanied by dependent children at any time during your stay

For further information on a second working holiday visas please visit www.boarder.gov.au