Taxable Income

When your employer asks you to work in a different place than your usual workplace and they pay for your living expenses there, it's called a Living Away From Home allowance (LAFHA).

For example, if you normally work and live in Melbourne, but your company sends you to work in Regional NSW for a few months, they might give you money to cover your living costs in NSW.

This allowance isn't counted as taxable income for you, so you don't have to report it on your tax return. It's an amount your employer gives you, and you don't have to pay tax on it, as long as it follows the tax office rules. You also can't claim any expenses against this allowance.

However, your employer has to pay some tax on it under the Fringe Benefits Tax system. But they can reduce this tax for up to 12 months if you meet these conditions:

You have a home in Australia that you use for your personal needs while you're away for work.
You provide a declaration about your living situation while away from home.
If you meet these rules, your employer can lower the taxable value of the LAFHA by the actual accommodation expenses you have while living away from home, and any food or drink costs you have, minus a certain amount if applicable.

In Australia, there's no inheritance tax. But if you invest the money you inherit and it earns income, that income might be subject to taxes.

It's a good idea to be careful when considering investment schemes. Not all of them are genuine, and some may promise big tax deductions that the tax office won't actually approve.

If you put your money into a risky tax scheme, you could end up losing some or all of your money. You might also have to pay back any tax refunds you received because of claimed deductions, along with extra charges like interest and penalties.

Before you invest in any tax scheme, it's smart to get advice from a professional advisor or the tax office. You can find information and warnings about investment schemes and scams on the Australian Securities and Investment Commission and the Australian Competition and Consumer Commission SCAMwatch website.

When it comes to declaring income, you need to do it the same way the accounts are set up. If you have interest from a joint account, you should split it evenly, 50/50. You can't declare it all on one person's tax return, like your wife's, because that could trigger an ATO audit.

Yes, she needs to file a tax return. If a minor (someone under 18) earns more than $== from income that they didn't actively work for, like investments, they must file a tax return. Income from working (like a job) still has tax, but it can be reduced with a low-income tax offset. Income that wasn't earned through work doesn't get this offset and is taxed at the rates for minors.

You don't have to do a full tax return. Instead, you can fill out the Refund of Franking Credits for Individuals form. You can submit it over the phone or mail it to the ATO.

Usually, if you get a pension from another country and you live in Australia, you have to pay taxes on it, and you should report it in your tax return. But there are a few cases where this might not apply. If you're unsure about your situation, you can call Roger Boghani at 0452 669 147 for help.

You have to report all your income because the tax office needs to figure out the right tax rate for your overall earnings for the year. There might be an offset that prevents you from paying tax on your benefit.

You can get the information you need from Centrelink's online services, their mobile apps called Express Plus, or by using self-service terminals at Department of Human Services Service Centers. If you need help, Roger Boghani can also find the information for you.

You only need to pay tax on the money you earn after you moved to Australia. If the money you brought with you makes interest in a bank account, you'll have to pay tax on that interest.

Usually, the money you earn overseas is taxable in Australia. But if you've been working overseas for more than 90 days continuously and fall into one of these categories:

You work for a recognised non-governmental organisation as an aid or charity worker.
You're a government aid worker.
You're a government employee deployed as part of a disciplined force.
In these situations, your income won't be taxed.

If your overseas income isn't exempt, you should report it in your Australian tax return. You might also be eligible for a foreign income tax offset to account for any foreign taxes you paid on that income.

For tax questions, you can reach out to us. Find a nearby office and schedule an appointment online or call 0452 669 147.