As a declared non tax resident, do I still need to file tax returns?

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(Newbie)Newbie

31 Aug 2023

I have been living overseas for the past 10 years and have declared myself as a non-tax resident to the ATO. I have no tax returns that are due on my account since 2018 (there is also no option to lodge since I declared as a non-tax resident).

I just checked my only bank account and I have received $35 Gross Interest Earned in my tax statement, while Tax withheld from Interest Earned is $0.

Do I need to report this as I have interest as income for the last year? Thanks

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ATO Certified Response

TobyJDodd

(Devotee)Registered Tax Professional

ATO Certified Response

31 Aug 2023

HI aabbee01

Non-tax residents of Australia are taxed only on income earned in Australia.

As such, the $35 bank interest may be taxable in Australia as it appears your bank is not aware you are a non-resident and has not withheld tax. (Dependant on the terms of any applicable double taxation treaty)

As a non-tax resident, you do not have access to the tax-free threshold and will be taxed at 32.5% on the $35 (so $11.38 tax to pay)

Further information can be found at https://www.ato.gov.au/Individuals/Coming-to-Australia-or-going-overseas/Your-tax-residency/Foreign-and-temporary-residents/

A tax agent can prepare a non-resident tax return for you.

Toby