Monday, October 29, 2012

Tax Calculator Australia

If you are going to work in Australia during your Overseas Experience you will have to pay taxes as the Australian resident for tax purposes. The best way to figure out how much taxes you have to pay and what's your take home salary is to use this tax calculator for Australia.

This tax calculator can help you calculate what's your Superannuation contributions will be as well. You probably know that employer must pay 9% of your salary into your Superannuation Fund in Australia.

After your stint over the ditch is over, you always can get Australian tax refund. Especially if you worked less than a year. From my experience, people who worked less than entire financial year in Australia is entitled to some kind of tax refund. Of course everything depends on your salary.

Financial year is from July 1st till June 30th in Australia.
P.S. If you don't have flash installed please use this Australian tax calculator...

Tuesday, December 18, 2007

While in the U.S.

If you need any help, while your stay in USA, please contact RTTax.com:

Tel.: +1 630 303 9850
Tel.: +370 37 320 391
Skype: RT Tax
E-mail: info@rttax.com
Live chat: www.rttax.com

Friday, December 7, 2007

What are the most important documents?

Social Security Card. Once you arrive to US you must apply for Social Security Number at the nearest Social Security Administration office. Social Security Number is issued to you just once and it is a very important document in the US. If that number was not issued to you, you might not even get a job and will not be able to get your tax refund. Contact Social Security Administration or your J-1 visa sponsor while in the US if you have not receive Social Security Card.
US Visa.
Last pay slip. Your employer will pay your salary by issuing the check. Each check will have a pay slip attached to it. On the pay slip you can see what salary was paid to you, and what tax deductions were made. Keep all your pay slips secured, especially the last one, which is used for your tax refund.
W-2 form. This is the final document from your employer, where you will find all the information about your income and tax deducted while working at the company. This document will be mailed to you after the end of financial year - the 31st of December. Work and Travle participants should receive W-2 forms by the February 15th. You should receive separate W-2 form from ech employer.
DS-2019 form (J-1 visa participants)
Details about your employer. Company's name, address, payroll department telephone number.

Thursday, December 6, 2007

What taxes do you need to pay in the US?

Participants of Work and Travel program (J-1 visa) are supposed to pay all type of taxes except Social Security and Medicare.
If your employer deducts Social Security and Medicare Tax from your salary, please direct him to IRS publication 519, Chapter 8, page 45.

Participants of all other programs (H-2A, H-2B, Q visas) are due to pay all of the mentioned taxes.

Wednesday, December 5, 2007

What taxes are in the US?

There are several different taxes withheld in the US:
  • Federal Income Tax. This tax varies from 10-12%
  • State Income Tax. There are 8 states, which don't have this tax. The others have 3-6 % tax.
  • Local Tax. Most localities don't have any taxes but few of them do have a small tax.
  • Social Security and Medicare Tax (FICA, OASDI)