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Exmoney24(Newbie)Newbie
20 June 2024

I have been working overseas for over 6 years and classed as a non-resident for tax purposes.

Due to a combination of regional instability and opportunity I may return to Australia to take up a contract on an international fly in fly out basis.

My accountant says I have over 100k available in concessional carry forward contributions available.

Am I eligible to use this carry forward rule for the years in which I was a non-resident or does it only apply from the time I become a tax resident again. My superannuation balance is less than 500k

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180 views
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JDal(Initiate)Initiate
21 June 2024

Assuming your tax residency revert to Australia (I've no idea how the tax residency rules work for fly in fly out) then I think answer is yes.


I'm in a similar position (albeit i wasn't Aus tax resident whatsoever before Jan 2023) and understand I can use the 5 year carry forward for concessional contributions. Some more detials here:

https://community.ato.gov.au/s/question/a0JRF000001cvHd2AI/p00303580

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Most helpful reply

JDal(Initiate)Initiate
21 June 2024

Assuming your tax residency revert to Australia (I've no idea how the tax residency rules work for fly in fly out) then I think answer is yes.


I'm in a similar position (albeit i wasn't Aus tax resident whatsoever before Jan 2023) and understand I can use the 5 year carry forward for concessional contributions. Some more detials here:

https://community.ato.gov.au/s/question/a0JRF000001cvHd2AI/p00303580

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