Tax, Superannuation and Bank Accounts

International Students leaving Australia permanently

Tax Refund

If you had tax withheld from your wages and/or bank interest you will need to lodge a Tax Return.

The tax year in Australia is 01 July – 30 June, for example a 2013 Tax Return is for the tax year 01 July 2012 – 30 June 2013.  If you are leaving the country before the end of the year you will be lodging an early tax return.

Getting the required forms and instructions

You will not be able to use E-TAX to complete and lodge an early tax return, you will need to complete a hard copy return using a Tax Pack.  To get a Tax Pack contact the Australian Taxation Office (ATO).

IMPORTANT DISCLAIMER:  This information should be used as a general guide only. It does not replace advice from the Australian Taxation Office, a professional Tax  Agent, or an Accountant.

Helpful information from Financial Aid

Completing your Tax Return
Complete your tax return, and mark the relevant year in bold on the front of the tax return. For example, if you are using Tax Pack 2013 to complete your return for the 2013/2014 income year, cross out the 2013 and mark the tax return 2014.

 

Individual Information
Your Tax File Number
Enter your tax file number here.
If you do not have this information you should contact the Australian Taxation Office
Are you an Australian resident?

In most cases this will be Yes.  Overseas students enrolled in a course of study of more than six months duration are considered Australian residents for Tax purposes.

http://www.ato.gov.au/Individuals/Income-and-deductions/How-much-income-tax-you-pay/Are-you-an-Australian-resident-for-tax-purposes-/

If you are/were in Australia for less than six months you would answer NO.

If you are still unsure you can use the ATO determine residency tool: http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=Resident.XR4&go=ok

Personal Details

Must be completed.

Postal Address: You should enter your home country postal address and cross the YES box if this address is different to the address on your last tax return.

Phone number during business hours: you can leave blank

Will you need to lodge an Australian tax return in the future: select NO this is my final tax return

Electronic Funds Transfer (EFT)
EFT can only be made into Australian bank accounts. If you are closing your accounts and/or will be unable to access your accounts from your home country then do not complete this section.

Refunds will be paid by cheque and mailed to your postal address. Refunds will be Australian dollars.
Income
Income
Most students will need to complete income salary and wages and bank interest.

Your main salary and wage occupation - If you have more than one source of income enter the occupation/job for which you earned the most money.

If you don’t have your Payment Summary from your Employer, use your payslips to calculate income and tax paid. Your employer is obliged to provide you with payslips in hard copy or electronic. If you do not have pay slips - ask your employer for this information.
Deductions
Deductions

Deductions may be applicable.  E.g. Laundry of uniform, Protective clothing, and trade union fees. Please ensure your read eligibility for these claims and any others by reading the instructions or visiting the website.

http://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/

Tax offsets
Tax offsets
(T1) Not applicable if your spouse was born after 01 July 1952
(T2, T3, T4) Not applicable.  (T5) is not applicable as International Student Health Cover is not recognized as Private Health cover for Australian tax purposes.
Medicare Levy
Medicare levy reduction
All tax payers must complete this section.
At Y put number of dependent children with you in Australia
Medicare levy exemption
At V write 365 in the claim type box write C
At W write zero (0)
Note: You have an exemption on the basis of Category 3- you have a letter from Medicare as you are not entitled to Medicare benefits and have a certificate from the Medicare levy exemption unit.

If you do not have a Medicare Exemption Certificate, please complete and mail form:
http://www.humanservices.gov.au/spw/customer/forms/resources/3169-1306en.pdf

Medicare levy surcharge At E cross the NO box
The next question is usually be NO
Then at A enter 365
Private health policy details

You do not need to complete this section. International Student Health Cover is not considered Private Health cover for Australian Tax purposes.
Adjustments
Under 18 If you were under the age of 18 years at 30 June 2013 you will need to complete this section
http://www.ato.gov.au/Individuals/Tax-return/2013/Tax-return/Adjustment-questions-A1-A3/A1---Under-18/
Part- year tax free threshold
The date section needs to be the date that you became a resident for Australian tax purposes
(the day you arrived in Australia)

The calculation of the months includes incomplete months.
For example arrive 28 Aug 2012 – 30 June 2013 = 10 months.
At N enter the number of months
Government super contributions
In most cases this section does not need to be completed.
Income Tests

In most cases this section does not need to be completed.
IT2 - If you have any reportable employer superannuation contributions, these will be clearly listed on your payment summary and the amount should be entered at T.
Spouse Details - married or de facto

If you had a spouse (married or de facto) living with you here in Australia for all or part of the financial year, you will need to complete this section.
Family Assistance consent
In most cases this section does not need to be completed.
Taxpayer’s Declaration
Question 1
The answer will usually be NO

If you had an Australian Business Number (ABN) and you earned money from your business you would need to answer YES at this section. YOU WILL NOT BE ABLE to lodge your tax return unless you do it via e-tax or use a professional tax agent.
Question 2
The answer would usually be NO
Important
Sign and date your tax return.

Where to mail your Tax return

Within Australia

It is IMPORTANT that you write the address exactly as it is written below:

Australian Taxation Office
PO Box 9845
IN YOUR CAPITAL CITY

Outside Australia

Australian Taxation Office
PO Box 9845
Sydney NSW 2001
Australia

Superannuation

International Students who have superannuation fund/s and are leaving Australia permanently may be entitled to claim this money back.

Bank Accounts

Most students departing Australia permanently decide to close their bank accounts before leaving in order to avoid any fees and charges that may be applicable for keeping their account/s active.

Closing Accounts

Visit your bank’s local branch and staff should be able to assist in closing your account and pay out your final balance.
If you are not able to visit a branch, you should notify your bank in writing that you wish to close your account/s.

Not closing your accounts

If you decide you would like to keep your accounts open you should ask your bank about things such as:

  • Monthly account keeping fees – most banks charge these fees and it could reduce whatever money you have left in the account.
  • Dormancy – Some banks close accounts which have not been used for 6 – 12 months. They can close your account, charge a fee, and transfer any remaining balance to a “lost monies” account. If this happens you would need to contact your bank about getting this money back.
  • Mail and replacement cards – ask your bank if they will forward statements and replacement cards to your overseas address. If not you may want to consider having a trusted family member or friend receive this mail and forward it to you in your home country.

You should notify your bank of your change of address for any mail. This will either be your home country address or the address of the friend of family member who will be forwarding your mail.

 

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