Tax on 457

[Guest keith73]

Simple Question

Has anyone completed a tax return on a 457 visa and got a rebate ?

 

Also as i'm a stay at home Dad will my OH get any cash for me like a tax free allowance ?

Edited April 27, 2012 by keith73
More Questions

[Guest Topcat]

Hi keith,

 

I completed a tax return last July (2011) and just got my rebate last week! So yes you do get rebates on 457's. The ATO called in a lot of tax returns last year and couldn't cope with the amount hence there was a back log and mine was only just reviewed and paid out. Use a good reliable accountant to amke sure you get good advice. Also, there is an allowance for one person that stays at home.

 

Hope this helps.

 

Tom

[Guest keith73]

Cheers Tom thanks for that.

[Atchy]

Hi

 

i am also coming over in Sept on a 457 visa. There will only be myself working, my wife will be at home with our 2 kids. Would like to know how that allowance works.

 

Cheers

[Guest Topcat]

Hi

 

i am also coming over in Sept on a 457 visa. There will only be myself working, my wife will be at home with our 2 kids. Would like to know how that allowance works.

 

Cheers

 

Hi Atchy,

 

You complete your tax return after the end of each tax year (june 30th). The allowance is added at that point then you submit the return. The tax office assess it then pay the money to you via bank account or cheque. Generally they pay out within weeks but sometimes the returns are called in fr review and this can delay payouts for months. There is no tax coding notice as in the UK so the allowance is given at the end of the year not averaged per month.

 

Tom