After you leave Austrailia, your super remains in your super fund account for six months.
After six months it is transferred to the Australian Tax Office as unclaimed super.
Continue reading “What happens to my super after I leave Australia?”
How long does it take to get my refund?
On average, you should get your refund within 14 to 21 days.
Getting your refund on time depends on the date on which you file your tax return and which work period you report have a definite impact on when you get your money back.
Generally, you can expect a quicker refund if you are reporting income earned before the end of the financial year and expect a long wait if you are reporting work after the close of the tax year. This is because this would require filing an early return with longer processing times.
Medicare Levy Surcharge Exemption
Having private medical coverage or having income below a certain threshold can qualify you for an exemption.
Also, you may qualify for the Medicare Levy Surcharge Exemption if you:
- meet certain medical requirements
- are a foreign resident
- are not eligible for Medicare benefits.
Student Financial Supplement Scheme (SFSS)
The Student Financial Supplement Scheme (SFSS) is a voluntary loan scheme for students to help cover their expenses while they study.
In the fifth year, the Student Financial Supplement Scheme is taken out, the ATO collects the balance of the outstanding loan. Then, it becomes an accumulated Financial Supplement debt.
Nevertheless, it is no longer in effect since 31 December 2003. The tax system collects the existing Financial Supplement debts. Continue reading “Student Financial Supplement Scheme (SFSS)”
Medical Expenses Offset
The Medical Expenses Offset allows you to claim a tax offset for a percentage of your net medical expenses.
In order to qualify for the offset, however, your medical expenses must be greater than the threshold set by the ATO (as shown in the table below). Continue reading “Medical Expenses Offset”