FAQs

1. What documents do I need to submit for a tax file return?

Ans : You need to present client’s personal details, PAYG summary to start the individual tax file return process.

2. Do every company need to file a tax return?

Ans : Regardless of a non-trading or a nil transaction company, all the companies need to file a tax return.

3. Is it possible to file the tax return on my own? (focus on penalties)

Ans: It is possible to file tax return on you own but there are details that need to be taken care of. There are penalties for falsified or misinterpreted information.

5. Do I get all of my tax refund on the first year as a tax resident of Australia?

Ans : No, absolutely not. If your income is less than 18,200, you get all the tax refund. Anything above that amount will be deducted as per your income.

6. Do I need to pay medicare levy?

Ans: It depends whether you are an Australian Citizen, Permanent Resident or Temporary Resident. Temporary Residents may get an exemption from medicare. However, they need to lodge an application for the medicare levy exemption. However, Australian Citizens and Permanent Residents need to pay medicare levy.