Experts at Taxback.com are calling on anyone who worked in Australia in the years 2005 to 2015 to submit a tax refund application.
The tax experts say that every year so much money is left unclaimed because people are simply not aware of their entitlements and/ or because they think the “hassle” of trying to get the money back is simply not worth it.
According to Eileen Devereux of www.taxback.com, “Every year we try to get the message out to as many people as possible and although we may sound like a broken record at this stage – there are still people who do not know that if they worked in Australia in the last 10 years then they might be entitlement to a tax and possibly pension refund! There is an estimated €100 million in Tax refunds in the Australian Tax Office (ATO) and because Australia is such a firm favourite of Irish travellers then Irish people could be entitlement to a significant chunk of that pot”.
Taxback.com say that approximately 150,000+ Irish workers travelled to Australia in the last 10 years on the Working Holiday visa alone. While this is the most popular visa for Irish workers it’s not the only one people use – employer sponsored visas are also popular and these people may also be entitled to refunds.
Eileen went on to say “Thousands of workers leave our shores every year in search of job opportunities and new experiences in Australia – some come home after a year or less whereas others stay for longer. All of these workers have one thing in common; they will have paid tax in Australia and may be owed some of this money back.
The primary tax rebate entitlements that Irish people are eligible to claim for are income tax and superannuation. On average, our customers get a refund of $2,600 for the former and $3380 for the latter; a substantial sum of money by anyone’s standards and certainly not something to be left behind or forgotten”.
Taxback.com says that the size of an individual’s income tax refund will depend on a number of factors such as, the amount they earned, residency status and tax rate.
Eileen concluded, “Basically, if you’ve worked and paid tax in Australia, it’s well worth your while checking whether you can claim it back. Furthermore, most people who work in Australia will have contributions paid by their employed into a superannuation fund, which everyone is entitled to claim back.
In our experience, most people don’t claim back refunds from overseas as they are unsure what is owed to them and envisage that it will be a long and difficult task. We take all that on for them and look after all the document processing, ask the right questions and deal direct with the tax office on our customers behalf. If individuals have lost documents or are unsure what superannuation fund they have paid into we will contact their employers and get this information direct (with the customer’s authorisation”.