US Tax Deadlines for Americans Living in Australia

If you're a US citizen or green card holder living in Australia, you still have to file a US tax return each year if your income is above the filing threshold. Living in Australia gives you a little more time, but the key dates are worth knowing.

The key US dates

• April 15: the normal due date for your Form 1040, and the date interest starts on any US tax you owe.
• June 15: an automatic two-month extension applies if you live and work outside the US on April 15. Attach a statement explaining that you qualify.
• October 15: you can extend further by filing Form 4868 before your due date.

Don't forget the FBAR

If the combined balance of your non-US accounts (including Australian bank accounts) was more than US$10,000 at any time during the year, you must also file an FBAR (FinCEN Form 114). It's due April 15 and is automatically extended to October 15.

Two tax years, two calendars

The Australian tax year runs from 1 July to 30 June. The US tax year is the calendar year. That means your US return draws on income from two Australian tax years, converted to US dollars. Planning both returns together avoids mismatches and makes sure you get the right foreign tax credits.

Behind on your filings?

Many Americans in Australia don't realise they need to file until years later. If your failure to file wasn't wilful, the IRS Streamlined Foreign Offshore Procedures let eligible taxpayers catch up by filing three years of returns and six years of FBARs, generally without failure-to-file penalties.

Need help? US returns for SydneyTaxAccountant clients are prepared and filed by Waycorp Advisors Inc., an authorised IRS e-file provider, and signed by IRS Registered Tax Preparers. Call 1300 661 380 or book a free consultation.

This article is general information only and doesn't take your personal circumstances into account.