Loading
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
rlaxodn79(Newbie)Newbie
28 Feb 2024

Hi there,


I am currently at a business planning stage with one potential customer and I hope to seek some advice on organising a freelancing business as a sole trader.


My case is a bit tricky as I will be residing overseas/non-tax resident (South Korea) but attracting foreign income between $10k ~ $40k each year. So the question is:


  1. Will I need an ABN?
  2. If I've applied for an ABN as a sole trader then will this be calculated as an individual tax rate? or foreign income tax?

Thanks for your assistance.

236 views
1 replies
Liked by rlaxodn79
236 views
1 replies

Most helpful response

Most helpful replyATO Certified Response

CaroATO(Community Support)Community Support
ATO Certified Response3 Mar 2024

Hi @rlaxodn79,


  1. You'll need to check your entitlement to an ABN first. Keep in mind, one of the criteria is you're carrying on or starting an enterprise in Australia. Because you'll be in South Korea, you won't meet this criterion.
  2. Your Australian residency for tax purposes status will let you know what income you need to tell us about if you need to lodge a tax return. If you did apply for an ABN and receive business income, we'll calculate the amount of tax you need to pay based on your residency for tax purposes status.

Enjoy your new adventure!

All replies

Most helpful replyATO Certified Response

CaroATO(Community Support)Community Support
ATO Certified Response3 Mar 2024

Hi @rlaxodn79,


  1. You'll need to check your entitlement to an ABN first. Keep in mind, one of the criteria is you're carrying on or starting an enterprise in Australia. Because you'll be in South Korea, you won't meet this criterion.
  2. Your Australian residency for tax purposes status will let you know what income you need to tell us about if you need to lodge a tax return. If you did apply for an ABN and receive business income, we'll calculate the amount of tax you need to pay based on your residency for tax purposes status.

Enjoy your new adventure!

Featured articles

Setting up an ATO payment plan

5 Nov 2025 · 6 min read time

Tax tips for social media influencers and content creators

22 Apr 2024 · 3 min read time

Tax tips for managing your side hustle

22 Apr 2024 · 6 min read time

Top liked users

  1. Taxduck

    (Taxicorn)

    327 likes

  2. PayrollDeanne

    (Taxicorn)

    318 likes

  3. Bruce4Tax

    (Taxicorn)

    192 likes

  4. YellowPotato

    (Taxicorn)

    145 likes

  5. Peter_Clyne

    (Superuser)

    101 likes

Top contributors

  1. PayrollDeanne

    (Taxicorn)

    1328contributions

  2. Taxduck

    (Taxicorn)

    1311contributions

  3. YellowPotato

    (Taxicorn)

    580contributions

  4. Bruce4Tax

    (Taxicorn)

    526contributions

  5. YEP

    (Devotee)

    280contributions

Loading
Freelance sole trader residing overseas attracting foreign income | ATO Community