Tax on Salary for Visa 457 holder

ricominero

Is medicare levy included in the salary deduction for Visa 457 holder?

Malaki po ba talaga yung tax sa Australia?

jayjee09

if im not mistaken, 40 percent rin ang tax for 457? tama ba?

ricominero

@jayjee09, di ko po sure. magkaiba ata yung tax ng temporary resident at ng permanent resident

jaydeetizon

@rpdimapilis chk mo itong link pra may idea ka sa tax

http://www.ato.gov.au/individuals/content.aspx?doc=/content/12333.htm&pc=001/002/046/002/002&mnu=42570&mfp=001&st=&cy=

ricominero

@jaydeetizon, thanks for the info. ang laki pala...

JClem

Hindi naman po 40% I believe. You may check AU Taxation Office (http://www.ato.gov.au/). Meron silang tax calculator para you can extimate your tax dues. Tingin ko nag-aaverage to around 23% to 27%.

<blockquote rel="jayjee09">if im not mistaken, 40 percent rin ang tax for 457? tama ba?</blockquote>

diwata

pag may dependent ka, mas maliit pa. kasi in my case ang laki ng tax refund ko last June 2011. although march 2011 lang ako dumating dito so hindi buong fiscal year ako nagwork. then kung nasa it ka and bumili ka ng mga computer hardware eh tabi mo ung receipt kasi pede syang tax relief.

jaydeetizon

@diwata ang non working spouse ba considered as dependent for tax purposes?

diwata

sa 457 hindi sya kinonsider. un ung sabi sa akin ng accountant. bale ung 2 kids ko lang ang natreat as dependent

ricominero

depende rin kasi sa salary range yung tax e. kaya may range din ung tax.

Davidx23

@Diwata

Alam mu ngaun ko lang nalaman yang computer tools as tax deduction, kaya bumili agad ako for this year as deduction. Alam ko may limit sya ng 300 or lower, pag over, depreciation lang yung pwede mung i-charge. Tska may limit ba, for example dalawang item worth 290? Pwde kaya yun?

@rpdimapilis

Yes, mataas po ang tax dito sa Aus kaya every piece of allowable deduction helps. Ex. yung sabi ni Diwata na tools & equipment deduction pero dapat 300 lang para pwede mung i-expense outright.

jaydeetizon

@Davidx23 my idea po ba kyo kung ano pwede deduction ng civil engr?

LokiJr

457 po is counted as resident di po ba? Yung salary tax depende sa tax table...45% if you are earning more than $150,000 annually....ang medicare levy naman 1.5% of gross annual salary.

Mas mataas ang levy pag walang private health insurance kayo 🙂

Davidx23

@jaydeetizon

If you're a professional, same lang ang treatment ng deduction tulad sa IT pro. For ex., you can claim a portion of your household expense (electricity, rent/mortgate, etc.) if you are working sa bahay, but you need to keep a detailed daily logbook of your work activity plus dapat walang tao sa bahay at the time you are working.

Another ex. for a deductible expense is magazine subscription, pero don't claim your fhm subscription as a deduction 🙂 dapat related sa profession mu.

jaydeetizon

@Davidx23 thanks for the info.

ricominero

@LokiJr for real? 45% ang tax? ang laki naman... kalahati ng salary nasa tax na.

LokiJr

@rpdimapilis, 45% ang tax rate mo kung $150,000 above ang annual salary....Php6.9M a year yun hehehe....usually naman mga $50k - $80k naman ang standard salary range sa Australia...nasa 19%-25% lang ang tax sa ganung bracket 🙂

ricominero

@LokiJr eh yung supernannuation taxable din?

depende nga sa sweldo un. iniisip ko kasi ung offer na pinirmahan ko.

LokiJr

@rdimapilis, ang superannuation po +9% ng annual gross salary...isinasantabi po siya para sa retirement at hindi siya kasama sa tax computation.

Kung kinuha niyo siya sa retirement age, wala siyang tax. May tax kung winithdraw mo siya nang mas maaga hehe

ricominero

@LokiJr thanks.. it helps. excited na kong mag australia.. 🙂 hehe