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uckiller(Enthusiast)Enthusiast
20 May 2023

Hello ATO Community!


I just migrated to Australia from Hong Kong with my Temporary Resident (sub class 188) few months ago and plan to stay permanently. I believe now I am a resident for tax purpose. However, I have following questions want to clarify. Do I need to pay tax from:


1) interest earned from AUD deposits hold in my offshore banking account (e.g Hong Kong)


2) interest earned from AUD deposits hold in my bank account in Australia


3) interest earned from USD deposits hold in my offshore bank account


4) interest earned from USD deposits hold in my bank account in Australia


5) dividend derived from US & HK stocks holding in my offshore brokerage account in HK.


6) dividend derived from US & HK stocks holding in my brokerage account in Australia.


7) dividend derived from Australia stocks holding in my offshore brokerage account


8) dividend derived from Australia stocks holding in my brokerage account in Australia.


Thanks and looking forward to you answer.



996 views
7 replies
996 views
7 replies

All replies

AnitaATO(Community Support)Community Support
23 May 2023

Hey @uckiller,


Yes, as an Australian resident for tax purposes you must declare income that you earn from anywhere in the world in your Australian tax returns. This includes any assets or investments you have overseas.


If you're an Australian resident for tax purposes and you have a temporary visa you won't pay tax on most of your foreign income.


If you receive foreign income, you may pay tax in both countries unless you're entitled to an Australian foreign income tax offset.


If you receive income from a country that has a tax treaty with us, you may be exempt from paying tax in that country.


You can read more about Australian resident foreign and worldwide income on our website.

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