Kai

Visa 457 - Deductibles and Allowances Entitlements

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    Hi Resourceful members,

     

    I am moving to Adelaide on 457 with my non-working spouse and one year old child, sometime end April for employment. I understand that I am expected to pay hefty tax scheme without much entitlements as we may not be eligible to, such as FTB, Childcare link etc. Having said that, I came across some news that I could off-set some deductibles and/ or allowances. I am not sure how true they are and I wonder anyone could assist me on this matter.

     

    Appreciate for your kind advises. Thx in advance!

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    It depends on what job you do to what sort of thing you can off set against your tax. However, as a 457 holder you will be counted as a resident for tax purposes, so won't pay any more than an Aussie.

    Your health insurance can be offset I believe.

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    I managed to look up at this website with a list of deductibles and offset allowances. Thought it would be great to share

     

    https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Vehicle-and-travel-expenses/Award-transport-payments/'>https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Vehicle-and-travel-expenses/Award-transport-payments/

     

    I thought I should probably point out that this link only applies if you receive an award transport payment from your employer. For most people that work 9 to 5 in an office environment there is little that they can really offset against the tax bill, although things like payment of professional memberships could be claimed providing you have paid for them and not your employer.

     

    This link is the best one to start with when looking at what you might be able to claim against your tax bill - https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/

    Edited by NicF
    added a bit

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    Yeah. Most people can't claim that. As I said, it depends on your job. I work outdoors so can offset sunlotion, sunglasses, wet weather gear, steel toe cap boots (not just any boots), wellies.

    My partner has to use his mobile for work (this can't just be the odd call into work etc, he had to phone clients on it) so he can claim a percentage of that cost.

     

    The best thing to do when you get here is to have a chat with the people you work with. Be aware though that many people claim more than they are actually entitled to, then end up with big bills and fines. I know a couple of people who used a tax agent (the same agent). He must have been audited and they went through all his clients. They had claimed for travel expenses to and from work (which you can't claim for), non company branded clothes etc. They had to pay a lot back.

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    Yea @NicF, that was the link I wanted to share, not sure why it appeared to be the specific award transport payment lol

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    Welcome. Out of interest what job do you do that is in demand on a 457 visa?

    I am in the accountancy line

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    I am in the accountancy line

    Unless you have to work from home, there is going to be hardly anything you can offset there.

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