tax & double tax

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(Initiate)Initiate

1 Mar 2024

Hi Everyone,

I have recently moved back from Singapore to Australia (1st Sept)

My annual bonus is payable next week (period 01/01/23 to 31/12/23) & I am being told that it will be taxed in Singapore (8 months i was there) and now Australia for the full 12 months.

Can somebody tell me:

a) is this correct?

b) is it correct that im taxed for the full period when I was only here (Australia) for 4 months?

c) for the 8 months Im being taxed in Singapore will i get taxed the full amount in Australia? or is there an offset?

really appreciate your help!

thx

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AriATO

(Community Support)Community Support

6 Mar 2024

Hi @Blue191

That depends. Are you an Australian resident for tax purposes? If so, you need to report your worldwide income to us in your tax return.

Don't stress though, Australia and Singapore have a tax treaty and this has guidance about relief from being taxed twice. If you're taxed in Singapore you can likely claim a credit for that tax paid in your Australian tax return. This is known as a foreign income tax offset. The treaty is the place to look for more info.