G’day and welcome to Australia

Yes. Apply for that here.

Yes, if you are going to be subcontracting you will need an Australian Business Number (ABN).

We can organise this for you.

If you will be an employee, you won’t need one.

Yes, it is best to set up an Australian bank account.

We recommend that you have an Australian bank account that is used solely for business income and expenses.

You will need your TFN for this.

Goods and Services Tax (GST) is an Australian equivalent of the VAT.

GST is a 10% tax that is added on to certain goods and services. Businesses collect it and then remit it to the tax office.

The GST paid on expenses incurred that relate to earning your income can be claimed back.

Your GST will be calculated on a quarterly basis, and your BAS submits this information to the Australian Taxation Office.

The ATO has guidelines for when you must register for GST. The most relevant of these is the requirement to register for GST once your turnover (gross income less GST) reaches – or expects to reach – $75,000.

You can also voluntarily register for GST if you do not fit into one of the required categories.

We generally recommend registering for GST alongside your ABN and TFN registration. We can organise this for you.

Common income and expenses and the GST treatment:

Includes GST

Income:

• Clinic guaranteed hourly rate income
• Cosmetic work
• Medical reports

Expenses:

• Indemnity insurance
• Laptop / equipment
• Internet access
• Mobile phone expenses

Excludes GST

Income:

• Medical billings to a patient through Medicare

Expenses:

• International travel
• Bank fees

A Business Activity Statement (BAS) is a form that needs to be lodged quarterly with the ATO to declare all the GST collected on income, and all the GST paid on expenses during that quarter.

If you are a subcontractor and registered for GST, you will need to lodge a BAS each quarter.

We can assist you with this.

The Australian financial year runs from 1 July – 30 June. As well as the quarterly activity statements, an annual income tax return needs to be lodged with the ATO. This deals with your income tax as opposed to GST.

September quarter: 1 July – 30 September

December quarter: 1 October – 31 December

March quarter: 1 January – 31 March

June quarter: 1 April – 30 June

We will always get in touch with you to ensure you are aware of the ATO due dates for tax returns and business activity statements.

Work related expenses that can be claimed include:

• Mobile, computer, internet
• Travel expenses
• Medical equipment
• Training
• Professional memberships and registrations
• Indemnity insurance
• Our fees

What can’t I claim?

• Expenses incurred prior to you moving and starting work
• Moving costs
• Expenses incurred in relation to obtaining a visa
• Personal expenses

For a full list please see here.

No, the ATO considers these to be private expenses.

Visitor cover acts as a stop gap while you are waiting for your Medicare card and may not meet the requirements to avoid the Medicare Levy Surcharge.

You will most likely need private health insurance with hospital cover instead.

Talk to your fund about what kind of health insurance cover you require for your specific circumstances.

Please see here for some videos explaining the medicare levy surcharge.

Australian tax rates can be found on the ATO website here.

This will depend on your specific circumstances.

If you’re not an Australian resident for tax purposes, you are only taxed on your Australian-sourced income and generally don’t need to declare income you receive from outside Australia in your Australian tax return.

Once you are considered to be an Australian resident for tax purposes, worldwide income will need to be included in your return.

We will determine whether we need to include your foreign income when preparing your return.