Hello everyone, I am a new Australian PR and Tax resident, will I be charged Tax for my lumsum investment returns in India where I have paid Rs 500000 (AUD 9315) for 5 to 6 years and held the investment for a period of another 5 to 6 years and then I receive a lumsum payout at the end of 10 and 12 years respectively?
For example I pay Rs 500000 (AUD 9315) * 5 years = Rs 2500000 (AUD 46500) and stop payments.
After waiting for next 5 years I get a lumsum payout on the 10th year of Rs 4800000 (AUD 93100) where out of AUD 93100 amount, AUD 46500 was paid by me only and rest is the interest accumulated over the next 5 years where I wait for the investment to hit maturity date.
Also to highlight, I held this investment for 3 years already in India before becoming a Australian tax resident. So out of the 5 years of payment made by me I was not an Australian Tax resident for first 3 years out of the total 10 years I held the investment.
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