Is money transferred from overseas taxable in Australia if it was earned before tax residency?

 Author: KaraATO(Community Support)Community Support

30 Apr 2026

Hi @135Jade,

Just adding onto what @YellowPotato has said - If you owned and sold the property in Vietnam before you became an Australian resident for tax purposes, Australia doesn't usually tax the capital gain from that sale. Capital gains tax is based on your tax residency at the time the property was sold, not when the sale money is brought into Australia.

Moving your own money from an overseas bank account to Australia doesn't make it taxable by itself. What matters is:

• where the money came from, and
• when it was earned or made.

If the above applies to you, no - currently the income doesn't sound like it would be assessable in Australia.

The transfer of money likely won't need to be included in your tax return, if:

• the money is from the sale of your own overseas property, and
• it's not income.

Have a read through:

• Australian resident and foreign worldwide income, and
• foreign and temporary resident income.

If you earn interest after the money is deposited into your Australian bank account, that interest is taxable in Australia if you're a resident for tax purposes at the time.

Your residency depends on your situation, such as your:

• intentions
• where you live, and
• your ties to Australia.

You can use our residency tools to help work out your tax residency for the right period, but as already mentioned if you're still unsure it might be best to reach out to our tailored technical assistance or private rulings team.

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