Hi,
If someone wanted to purchase a property in Australia with money earned overseas before immigrating to Australia, would this money need to be declared/taxable?
The funds in question were genuinely earned through work and are higher than 10K.
Thank you,
Hello there @Cammie,
No, if the money was earned overseas while you were not a tax resident of Australia, it is not reportable.
If you transfer it between accounts in you name to use in Australia, it is not reportable. If it earns interest in an Australian bank account, this is reportable.
You might need to apply for approval to buy Australian property since you're not a resident yet. You should look into our residential property application for foreign investors webpage.
Hello there @Cammie,
No, if the money was earned overseas while you were not a tax resident of Australia, it is not reportable.
If you transfer it between accounts in you name to use in Australia, it is not reportable. If it earns interest in an Australian bank account, this is reportable.
You might need to apply for approval to buy Australian property since you're not a resident yet. You should look into our residential property application for foreign investors webpage.
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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