- Sponsored Content
For Australian expats living in Singapore, the end of October marks an important date: the Australian tax return deadline.
If you missed this deadline, you’re not alone. Thankfully, there are still options available now to help you catch up and stay on track with the Australian Tax Office (ATO).
The ATO understands that Aussie expats may have unique challenges, and there are ways to manage your overdue taxes effectively. By taking action now, you can minimise potential penalties and interests and keep your Australian tax status in good standing.
Steps to take for overdue Australian tax returns:
- Get back on track Gather your documents, including income statements, bank records, and property-related expenses. Use the ATO’s online portal or contact an expert
- Consult an expat tax specialist Tax laws and requirements can be complex for Aussie expats in Singapore. A specialist can help you maximise deductions, avoid penalties and interest charges, and even assist with filing multiple overdue returns/backlogs at once
- Consider a payment plan If you owe a tax amount you weren’t expecting, the ATO also offers a payment plan to help manage your debt in instalments
- Set reminders for future deadlines Mark key dates in your calendar or set reminders to avoid missing future deadlines. Consider using ATO’s MyGov app or working with a tax agent to keep track of dates for every tax season
Why staying compliant matters
Filing your Australian tax return as an expat is essential for accessing tax benefits and protecting your income in Singapore from Australian tax. Staying compliant allows you to claim deductions on property expenses like loan interest and maintenance, reducing your taxable income.
If your property expenses are higher than the rent you’re earning from it, you’re in a “negative gearing” position. You may carry those losses forward to reduce your taxable income in future years, potentially lowering your tax when your property becomes profitable.
The ATO fines $313 every 28 days on overdue payments (up to $1,565 annually), plus interest. Staying on top of your taxes avoids these penalties and keeps your residency status updated, so you don’t even need to disclose foreign income.
“Filing your Australian tax return as an expat is essential”
Do an ATO tax health check
Ready to get back on track? Contact Odin Tax for a free Australian tax status check. We’ll assess your overdue returns, address compliance issues, and help you to avoid further penalties. Our expat tax specialists ensure secure handling of your data and offer:
- Early detection of tax issues to minimise fines
- A tailored action plan
- Ease of mind, knowing your taxes are managed professionally
Whether you’re catching up on overdue returns or simply want clarity on your current tax situation, we’re here to help make your Australian tax return process effortless.
Scan to check your Australian tax status for free
+61 485 980 277
support@odintax.com
