Australian/Canadian Tax

[lustique]

Hi guys!

It's time to do my Australian tax return very soon, and I've just started work here in Canada in May... I'm very confused about all the tax implications and I'm also not sure that I filled out my tax forms right when I started work too...

Is there somewhere I can get help on this? Even a professional? What's the best to make sure I'm doing this all correctly and most economically?

I don't want the tax man after me! Haha.

Appreciate any suggestions and recommendations. Thank you

[Auld Yin]

Originally Posted by lustique

Hi guys!

It's time to do my Australian tax return very soon, and I've just started work here in Canada in May... I'm very confused about all the tax implications and I'm also not sure that I filled out my tax forms right when I started work too...

Is there somewhere I can get help on this? Even a professional? What's the best to make sure I'm doing this all correctly and most economically?

I don't want the tax man after me! Haha.

Appreciate any suggestions and recommendations. Thank you

I'm sorry but I know nothing about the Australian tax system, even when the tax years ends.
For tax year 2009 you will file a Canadian tax return on or before April 30th. 2010 for year ending December 31st, 2009. You are required by Canadian law to file your global income for the 2009 year. If you have to pay Australian taxes for 2009 you will be allowed to deduct that paid from your Canadian return.
If most or all your income is employment derived you do not need an advisor. The Canadian system is quite simple. The tax form you filled out for your employer would indicate/instruct the Government as to how much allowances you wished to claim. If you under/overclaim it will be adjusted by refund/payment when you file your return.
If you have investments/rental properties then I suggest you hire an accountant.

[nessietee]

Hi,

Congrats with your move to Canada! I'm hoping to go there next year! Did you find it easy to find a job and settle in?

With regards to your question, I think the best bet is to consult the Australian Tax Accountant. I assume you were working the whole Australian financial year up to May. Also it depends on your declaration on being domicile/non resident etc etc. As Auld Yin mentioned, if you have investment property etc its best to hire someone. It's even more complicated!

You can also go to the ato website which has some information:

www [dot] ato [dot] gov [dot] au/taxprofessionals/content.asp?doc=/content/64070.htm

You are correct to have concerns about the tax ramifications as the Australian government has made changes to the 2009/2010 budgets with regards to foreign income rules. This may affect you next year if you are on a working holiday. Here's some info

www [dot] 1stcontactenews [dot] co [dot] uk/post/Australian-Tax-Working-Holiday-is-Over.aspx

Hope this helps a little bit.

Regards,
Nessie