Good day,
Here is the situation:
- I came here on a visitor visa last October 2023 (to be with my boyfriend who is now my husband and is an Australian citizen).
- We got married this year 2024 here in Australia but I had to exit Australia twice and then came back because that is what the visitor visa requires me to do (one year multiple entry but can only stay for 3 months for every entry).
- I have been granted a Bridging Visa last month while my partner visa application is being processed. The bridging visa will become active once my visitor visa expires within this year.
- Visitor visa does not allow me to work here but I am an independent contractor for an overseas client in the US (American company) for the last 7 years. The client allows me to work wherever I go as I do it online. So here in Australia I work from home and my payment goes to my US bank account. Client did not tax me.
- I have investments in the Philippines (e.g. stock market shares which I sold this month, mutual fund that I withdrew this month, pre-selling real estate which is in the construction stage so no income yet, dividends from government-held savings/investment, private equity or shares that I just paid this month and won't be generating interest income until middle of 2025).
- I still have bank accounts in the Philippines and I transfer money monthly to pay for my remaining bills there (credit card, car loan, life insurance, etc).
- I also have a bank account here in Australia which I opened last year.
- I transfer funds to my husband's bank account every month as we share the household expenses (rent, utilities, grocery, etc.). All household expenses are paid by his credit card and bank account.
Questions:
- Do I need to lodge tax returns as a part resident for 2023-2024?
- If so, how does this work?
- Will there be tax offset?
- What will be the deductions that I can claim?
Thank you for taking the time to answer.
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333 views9 replies
9 replies
333 views
9 replies