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Tax questions – Relocating overseas – What is my tax obligation?

Relocating overseas will not only mean a change in lifestyle and culture, it can also mean a change in your Australian tax obligations.

Tax residency

The tax outcomes depend on your tax residency which determines how you are taxed by Australia. Tax residency should be considered separate from your citizenship and visa status.

Generally, if your intention is to be away for a period of less than two years, you will remain a resident of Australia for tax purposes. Otherwise, it is more likely, but not certain, that you will be treated as a non-resident for tax purposes.

Taxation of residents: In this case, you will be subject to Australian tax on all your worldwide income, which will be taxed at Australian rates. You will however, receive a credit for any foreign tax that has been paid on foreign income.

Taxation of non-residents: You are taxed on Australian sourced income (such as rental income on properties).

Once again, this is complex and you should seek advice from Saward Dawson.

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