If you're a South African living in Australia, tax time can feel like navigating an unfamiliar system with unfamiliar rules — especially in your first year. Australia's financial year runs from 1 July to 30 June, which means every year as 30 June approaches, employees, business owners, and investors across the country start thinking about their tax obligations.
The good news: once you understand the basics, lodging an Australian tax return is considerably less complicated than most newcomers expect. This guide explains everything South African expats need to know before 30 June — from EOFY basics and Medicare to managing financial ties you may still have in South Africa.
Please note: This article provides general information only and is not financial or tax advice. Your individual circumstances will vary. Always consult a registered tax practitioner in Australia and/or South Africa for advice specific to your situation.
Australia's financial year ends on 30 June — tax returns are lodged after this date, typically from late July onwards
Your employer reports your income and tax withheld directly to the ATO, which simplifies most first returns
If you arrived mid-year, earned overseas income, or still have financial ties to South Africa, your return will be more complex
The Medicare Levy Surcharge applies to higher-income earners without eligible private hospital cover — it surprises many new arrivals
If you are still considered a South African tax resident, you may have obligations in both countries simultaneously
Keeping organised records throughout the year makes EOFY significantly easier
EOFY stands for End of Financial Year — 30 June — and it is one of the most widely discussed dates in the Australian calendar. You will hear it in advertising, at work, and in conversations from about April onwards each year.
Australia's financial year runs from 1 July to 30 June. This is different from South Africa's tax year, which runs from 1 March to 28/29 February — so the adjustment takes a little getting used to.
After 30 June, the Australian Taxation Office (ATO) opens the lodgement period for tax returns. Most individuals can lodge from late July, either through a registered tax agent or via the ATO's online MyTax system. The standard deadline for self-lodged returns is 31 October. If you use a registered tax agent, that deadline is typically extended.
If you arrived in Australia partway through the financial year, your first tax return will cover only the period from your arrival date to 30 June — not the full twelve months. You will still need records of your Australian income, any tax already withheld by your employer, superannuation details, and records of any overseas income earned during the same period.
EOFY is also when many people review their private health insurance, make concessional superannuation contributions (the cap is NZ$27,500 per year for most people), and organise records for their accountant. Starting this process early — not in the last week of June — makes a significant difference.
Your first Australian tax return can feel daunting simply because the system is unfamiliar. Here is what the process typically looks like.
If you earned a salary from a single Australian employer: Your employer will have been reporting your income and tax withheld to the ATO through a system called Single Touch Payroll. By the time you lodge your return, much of your income information will already be pre-filled in the ATO's MyTax system. For straightforward situations, the process is often simpler than people expect.
If your situation is more complex: A more involved return may be needed if any of the following apply:
You arrived in Australia mid-financial year
You earned income overseas (including from South Africa) during the same period
You have investments, rental income, or capital gains to declare
You have foreign bank accounts or assets above certain thresholds
You are not certain of your Australian tax residency status
In these cases — which apply to many South African expats in their first year or two — using a registered Australian tax agent is strongly recommended. The cost is generally tax-deductible and the peace of mind is worth it.
Staying organised throughout the year is what separates a straightforward EOFY from a stressful one. Here is what to keep track of:
Work-related expenses — tools, uniforms, home office costs, and professional development may be deductible
Charitable donations — donations to registered Australian charities of $2 or more are generally tax-deductible
Investment income — dividends, managed fund distributions, and rental income all need to be declared
Private health insurance records — you will need your annual statement from your insurer
Foreign income and assets — any income earned overseas and certain foreign assets above AUD $10,000 require disclosure
Receipts and records — keep digital copies where possible; the ATO recommends retaining records for five years
If your circumstances change during the year — new visa status, property purchase, starting a business, or changes to your South African financial situation — speak to a tax professional before 30 June rather than after.
Yes — family circumstances affect a number of things at tax time in Australia.
Families with children may be eligible for the Family Tax Benefit, childcare subsidies, and other government support payments. These need to be reconciled against actual income at EOFY, which sometimes results in an overpayment or underpayment to settle.
Income splitting between partners can affect which Medicare thresholds apply to your household. Higher combined household income can also trigger the Medicare Levy Surcharge if appropriate private health insurance is not in place.
Parents should keep records of childcare expenses, school-related costs, and all government support received during the year. The Australian tax system ties several family payments to annual income, so EOFY often involves a reconciliation that can go either way.
This is one of the most common surprises for South African expats in Australia — and one of the most important things to understand before 30 June.
Australia has a public healthcare system called Medicare, funded partly through a Medicare Levy of 2% of taxable income, which most taxpayers pay automatically.
The Medicare Levy Surcharge (MLS) is separate and additional. It applies to individuals and families who earn above a certain income threshold and do not hold an eligible private hospital insurance policy. The current thresholds are:
| Income | Surcharge rate |
| Up to $93,000 (singles) / $186,000 (families) | No surcharge |
| $93,001 – $108,000 (singles) | 1.0% |
| $108,001 – $144,000 (singles) | 1.25% |
| Over $144,000 (singles) | 1.5% |
Family thresholds increase by $1,500 per dependent child.
For many South Africans earning a professional salary in Australia, the MLS is not a small amount — 1.5% of a $120,000 salary is $1,800 per year. In many cases, taking out private hospital cover costs less than paying the surcharge, which is why many people review their health insurance before 30 June each year.
If you are unsure whether your current private health insurance qualifies, contact your insurer directly before the financial year ends.
This is where it gets more complex — and where many South African expats in Australia get caught out.
Moving to Australia does not automatically end your South African tax residency. Until you have formally ceased tax residency with SARS through a process called tax emigration, you may still be considered a South African tax resident — even if you have been living in Australia for years.
This matters because it can create obligations in both countries simultaneously:
Income earned in Australia may need to be disclosed to SARS in South Africa
South African income (rental property, investments, retirement annuity income) needs to be declared in Australia
The double taxation agreement between Australia and South Africa determines which country has primary taxing rights on various income types — but navigating this requires specialist advice
If you still have South African bank accounts, investments, retirement products, or property, your cross-border tax situation is likely more complex than a standard Australian tax return. Getting advice from someone who understands both systems is important.
Importantly — South African citizenship does not affect your tax status in either country. Tax residency and citizenship are entirely separate.
The ATO generally opens lodgement from late July each year, after 30 June. The deadline for self-lodged returns is 31 October. If you use a registered tax agent, the deadline is typically extended — sometimes to May of the following year.
If you are considered an Australian tax resident, you are generally required to declare worldwide income — including income earned in South Africa. This includes rental income, investment returns, and any salary earned from South African sources. The double taxation agreement between the two countries is designed to prevent you from being taxed twice on the same income, but you still need to declare it.
If you have not formally ceased tax residency with SARS, you may still be considered a South African tax resident, even while living in Australia. This can result in obligations to both SARS and the ATO simultaneously. Completing tax emigration through SARS is the formal process for ending South African tax residency — and it also unlocks access to South African retirement funds for eligible expats.
Potentially yes, depending on your circumstances. If you have been a tax resident in another country for at least three consecutive years, you may be eligible to access your South African retirement annuity before maturity. This is a significant financial opportunity that many South African expats in Australia are unaware of.
If your income exceeds $93,000 (for singles) or $186,000 (for families) and you do not hold eligible private hospital cover for the full financial year, the MLS will apply. Your tax return will calculate this automatically, but reviewing your health insurance before 30 June gives you the opportunity to avoid the surcharge for the coming year.
For a first return — particularly if you arrived mid-year, have South African income or assets, or are uncertain about your residency status — a registered Australian tax agent is strongly recommended. The fee is generally tax-deductible in the following year, and the advice is worth far more than the cost for a complex cross-border situation.
If you're still holding South African retirement funds, investments, or savings while living in Australia — EOFY is an excellent time to get your cross-border financial situation sorted.
Rand Rescue has been helping South African expats in Australia access their funds, complete tax emigration, and transfer rands internationally since 2008. The process is simpler than most people expect when you have the right specialist on your side.
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Related reading: Tax Emigration from South Africa — a complete guide · How to transfer rands overseas from Australia
This article provides general information only and is not financial, tax, or legal advice. Tax laws and thresholds change regularly. Always consult a registered tax practitioner in Australia and/or South Africa for advice specific to your circumstances.