Question

Australian residents must lodge a tax return if they meet certain criteria. What are they?

Answer 1

YOU MUST LODGE TAX RETURN IF ANY OF THE FOLLOWING APPLY-

1. TAX WAS DEDUCTED FOR ANY PAYMENT DURING THE FINANCIAL YEAR
2. AUSTRALIAN RESIDENT AND TAXABLE INCOME WAS MORE THAN THE TAX FREE THRESHOLD
3. FOREIGN RESIDENT AND EARNED MORE THAN $1 IN AUSTRALIA DURING THE FINANCIAL YEAR
4. PERSON LEAVING AUSTRALIA PERMANENTLY OR FOR MORE THAN ONE FINANCIAL YEAR
5. PERSON WHO WANT TO CLAIM TAX DEDUCTION

EVERY PERSON OTHER THAN FOLLOWING HAS TO FILE A TAX RETURN.

1. A FOREIGN RESIDENT WHOSE ONLY AUSTRALIAN SOURCE OF INCOME

• INTEREST
• DIVIDENDS
• ROYALTIES

FROM WHICH NON RESIDENT WITH HOLDING TAX HAS BEEN CORRECTLY WITH HELD.

2. WORKING HOLIDAY MAKER (417 OR 462 VISA HOLDER) AND WHOSE TAXABLE INCOME FOR THE YEAR IS LESS THAN $37001