Thursday, July 22, 2010

Tax Return Season $$££$$

With 30th June being the tax year end, from 1st July begins the season of tax return. For most of you, who don't know what tax return is (I didn't know until I stepped out of my country) I can try and explain briefly but trust me the taxation system in Australia is very complicated.

Like every country, workers have to pay taxes to the government here in Australia as well. A portion of your wage/salary gets deducted for tax purposes as you get paid each time. Tax return is lodged by taxpaying workers with the hope of getting a refund of what has been paid as you earned your income but sometimes one can end up paying back to the Australian Tax office (ATO) because of high income or low tax deduction.

You’ll get surprised to see how much tax you have to pay when you start earning. As international students, you do have work rights and if you find a job, you have to pay tax and lodge tax return. Not only that, if you have some savings in your bank account, you even have to pay tax on the interest received. Most of the things are taxed heavily in Australia and your income is obviously one of them. It doesn’t sound too pleasant but it’s true, the amount of tax you pay in Australia is quite high. In a way it’s good, because it helps to make the country’s economy stronger. I believe that it is one of the reasons why Australia is developed so much. As students, we always manage to get some refund back when tax return is lodged because we don’t earn much income and believe me it feels so good to get a lump sum amount in your hand at the end of the day. I love tax return season as it brings me some extra money and let’s be honest who doesn’t love that extra money???

Anyway, if you want to know more about ATO and tax return, visit ATO's webiste on In future if you come to Australia to study and work, you are going to need a Tax Agent to do your tax returns and you never know you might bump into me:)



  1. Hi Romu, thanks for all information about Tax Return. Looking through all your entries, I can imagine that how good your life are. If you have time, come and visit us at CQUniversity Melbourne.We are happy to see you there. Cheers!!!

  2. Hey, you are welcome Dao! I have been to Melbourne twice already, it's a lovely city and and yeah i will surely come and see you guys next time i travel to Melbourne.