tax file no - is it required?

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tax file no - is it required?


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Old 01-14-2015, 06:49 PM
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tax file no - is it required?

I am a holder of PR visa class 176, issued in August 2012. I went to Australia for 1 wk in the same month.
I didn't make any tax file no since I am not staying / working in Australia

Is it required to apply for it ? Or can I stay without one?
also I read that if I am not staying in Australia then I don't need to pay any kind of taxes. Is this right?

Appreciate your help


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Old 01-14-2015, 06:53 PM
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Quote:
Originally Posted by ahmedwk View Post
I am a holder of PR visa class 176, issued in August 2012. I went to Australia for 1 wk in the same month.
I didn't make any tax file no since I am not staying / working in Australia

Is it required to apply for it ? Or can I stay without one?
also I read that if I am not staying in Australia then I don't need to pay any kind of taxes. Is this right?

Appreciate your help
If you want to work in Australia you will need a tax file number - if you don't want to work in Australia you don't need one

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Old 01-15-2015, 12:14 AM
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As has been said if you want to work in Australia you must have a tax file number.

Just be aware you can't get PR and not live in Australia. Eventually DIBP will not renew the PR.

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Old 01-15-2015, 03:28 AM
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While you aren't resident in Australia you won't need a TFN. If/when you become resident and either start working or are required to file a tax return, then you will need a TFN.

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Old 01-15-2015, 04:43 AM
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It's ok with me. Just wanted to be sure that I am not doing anything illegal.
So what if I bought a property in Australia and lease it? I think I need a tax file no, right?
and if this is the case , will I need to pay taxes on my overseas income? Because if this the case then it would be a bad idea to invest anything in Australia


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Old 01-15-2015, 04:52 AM
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Quote:
Originally Posted by ahmedwk View Post
It's ok with me. Just wanted to be sure that I am not doing anything illegal.
So what if I bought a property in Australia and lease it? I think I need a tax file no, right?
and if this is the case , will I need to pay taxes on my overseas income? Because if this the case then it would be a bad idea to invest anything in Australia
If you buy property in Australia and lease it out you will have to get a TFN and pay tax or get a refund (depending if you make a gain or loss). If you are not a resident for tax purposes you will be taxed as a foreign resident.

It all depends if you are a resident for tax purposes. If you not live in Australia and own a property and rent it out then you wouldn't be a resident for tax purposes which would mean you only pay tax on your Australian income.

If you are an Australian resident for tax purposes (your intention is to live in Australia permanently or you are in Australia more than 6 months of the tax year) then you have to declare all your Australian income and foreign income. With foreign income they make sure you have paid tax on it.

Property in Australia is not cheap and you wouldn't get a loan if you aren't in Australia. I am not sure if PR holders can get a home loan (not something I have looked into) someone else can confirm this.

Hope that all makes sense.

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Old 01-15-2015, 06:00 AM
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Yeah. After some research, it's actually cheaper and have higher return-on-investment here in Abu Dhabi than any part of Australia.
Just wanted to know my options.


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Old 01-15-2015, 06:09 AM
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Are you planning of live in Australia?

If you don't know PR is valid for 5 years and then you have to renew it if you leave Australia.

If you have not settled in Australia since been granted PR you may struggle to get a RRV or get a short one.

UAE is also tax free. If you live in Australia and have a property overseas it will need to be declared on your tax return. You may have to pay tax on it then in Australia as I would think that there would not be an international tax agreement between Australia and UAE.


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Old 01-15-2015, 06:27 AM
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I simply wish my lawyer was as helpful and friendly as u, Amish.
I am not trying to manipulate the system or anything . I wanted to immigrate to Perth back in 2013. Interestingly, when I started searching for a job before immigrating , I got an amazing offer for a job here in UAE. So I postponed my plans of immigrating for couple of yrs. I think I can make good savings and maybe fully immigrate to Australia to invest instead of searching for a job and working as an employee.
I know that my PR will expire in 2017. once it expires I will reapply again. I hope they will give me another 5 yr though I highly doubt it.
Btw I need to apply for Return return visa (subclasses 155, 157) . Right?


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Old 01-15-2015, 06:37 AM
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Yep that is correct.

I would expect they might only give you 2 years.


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