Business migration tax planning & reporting

 

Do I have to pay tax on my overseas income?

• If you are a tax resident, then you will need to pay tax on your worldwide income
• If you are a non tax resident, then you only need to pay tax on your Australian source of income.
• If you are a temporary resident, you will need to pay tax on your overseas employment income & personal service income

Who is a temporary resident?

You’re a temporary resident if you:
• hold a temporary visa granted under the Migration Act 1958
• are not an Australian resident within the meaning of the Social Security Act 1991
• do not have a spouse who is an Australian resident within the meaning of the Social Security Act 1991.

The Social Security Act 1991 defines an ‘Australian resident’ as a person who resides in Australia and is an Australian citizen, the holder of a permanent visa or a protected special category visa holder.

At ML Tax Solution, we understand your anxieties when you migrate to this beautiful and yet so unfamiliar country. So contact us on info@mltaxsolution.com.au or 03 95338980 if you would like to know more about your tax obligations in this new country.

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