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If their explanations don’t do the job, give us a call and together we’ll clear up any confusion.
Are you a tax resident?
To be considered a tax resident by the ATO, you must come under a number of categories: for example the amount of money you earn, your Australian citizenship status, or the way your visa operates will all determine whether or not you’re a tax resident. However if you were born in Australia, earn your money in Australia, or you’re a permanent naturalised Australian citizen, then you are a tax resident for Australian purposes.
When do I need to lodge a tax return?
You will need to lodge a tax return at the end of the financial year, which on the 1st of July.
What is ‘franking credits?’
They are a form of credit that allows a registered Australian companies to pass on the tax they paid through a company level to shareholders