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Tax Refunds

How to get a bigger tax refund

By April 12, 2019June 24th, 2019No Comments

Many travellers get all their tax back, but it is not a rule or law that all travellers must be paid all their tax they paid.

Travellers come under the same rules as regular Australians do. Travellers take advantage of not working for the full year, and consequently falling within the low (or tax-free) thresholds.

Travellers may also claim deductions for expenses incurred in employment or business. Please refer to our checklists for hints on types of expenses you may claim.

Getting a high tax refund is not just getting the best accountant. It requires your awareness throughout the year. Most of your work simply comes down to “keeping your receipts” (receipts here have a wide meaning so please check our FAQ for more information).

Without receipts, you can only deduct $300 per year of your expenses – and in many cases taxpayers would be entitled to claim a lot more. We will not require you to present your receipts to us, you will only need to give us a summary of them, and sometimes we may come back with some questions.

You will then be required to keep the receipts for 5 years in case the ATO would like to see them. If you subscribed to our Secure Mail service, you may send the receipts to us from time to time. We will return them to you after preparing the return.

In general, you must declare your income from all sources, and from all over the world. In some circumstances, your foreign income is exempt from Australian taxation, mostly when you are not Australian Resident for immigration purposes (residency for tax purposes is a different matter). Most travellers fit into this exemption, but please check before making the decision.

Thomas Murmylo

Thomas is the Principal Tax Agent at BTMH. Unlike most in the accounting industry, Thomas takes a different approach when it comes to the management of his clients’ taxation and accounting needs. Thomas has helped local and international businesses to grow and prosper for more than 30 years.

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