The two main changes the Australian Government has introduced means you must:
- update your contact details and submit an overseas travel notification if you have an intention to, or already reside overseas, for 183 days or more in any 12 months
- lodge your worldwide income or a non-lodgment advice.
These changes apply to new and existing HELP and TSL debts.
You can lodge online through ATO online services or through an Australian registered tax agent.
If you’re lodging your own tax return, the deadline to report your worldwide income for the 2016–17 Australian income year is 31 October 2017. It’s important you lodge on time, even if you can’t pay straight away, as you’ll avoid a penalty for lodging late.
You can use a registered Australian tax agent to lodge on your behalf. Registered Australian tax agents have a special lodgment program and can lodge returns for their clients after the usual 31 October deadline. The due date will depend on your personal circumstance. Contact your tax agent for advice.
After you have reported your worldwide income, you will receive a notice confirming:
- how much you owe or will be refunded
- the due date for payment.
Your HELP and TSL debt will continue to be indexed each year until it is paid. You can make additional voluntary repayments from overseas at any time to reduce the balance of your debt. These repayments will not reduce any compulsory repayment or overseas levy obligations you may have.
Courtesy: ATO website