taxation issues for an aussie working in korean airlines

[prodigy777]

Hi all,

I'm an Australian citizen considering applying to Korean Airlines. I plan to be based in Australia however I don't know where I stand when it comes to the taxation issues in Australia. Would anyone be kind enough to shed some light on this issue.

Regards,
Prodigy777

[engine out]

I have never investigated but from my understanding of the bar talk that I hear, if you reside in Australia then Mr Taxman will want his share.

[E&H]

Find out if the ATO has an agreement with Korea and if you will be paying tax in Korea if yes to both then you will have to pay for your medicare levy here in oz...You can find out if Korea has an agreement with Oz by going onto the ATO website...if they don't have an agreement then chances are you will have to pay tax here...you can thank K Rudd for that one...also ring the ATO and tell them your details and they will help although when I did they were still working through the new rules and were confused themselves...they should have their story straight by now though????

Where I work I am taxed at a higher rate than in Oz so all I pay is the medicare levy...as my accountant says if it were a true agreement by rights I should get tax back.

[Minosavy Masta]

"Where I work I am taxed at a higher rate than in Oz so all I pay is the medicare levy...as my accountant says if it were a true agreement by rights I should get tax back. "

Pray Tell where this place may be...I thought OZ was the World leader in Income TAX Imposition..:}

[prodigy777]

Many thanks to all of you for the information


Cheers

[Teal]

...I thought OZ was the World leader in Income TAX Imposition..Bad enough, but there are many worse...see Forbes' Tax Misery Index below which covers most of the big taxes, though not all:

http://i365.photobucket.com/albums/oo92/essendonfc/forbestaxmiseryindex.jpg

Prodigy - PM me if you want some specific advice re Korea etc.

T.

[apache]

get the job first..... then think about that!

[hongkongfooey]

I thought OZ was the World leader in Income TAX Imposition

Live in a :mad:hole like Hong Kong for a few years and you will soon see why Oz tax is double, it's worth every cent !

Korea does not have a tax treaty with Australia so you could conceivably end up paying tax in both countries, a private ruling from the ATO is the only way to go.

[sleeve of wizard]

A tax treaty is in place with South Korea
Countries that have a tax treaty with Australia (http://www.ato.gov.au/businesses/content.asp?doc=/content/59547.htm)
however you are not employed by KE, you are employed by a contracting company.:(

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Prodigy777

I think you will obtain a lot more useful and accurate information if you ask this question on the South Asia and Far East forum.

For the most part they will answer your question without pontificating and hijacking the thread and will most likely have the facts.

Good Luck with the contract.