I am on permanent resident visa but have been living overseas with my family for 9 years. I recently moved back to Australia in Jan 2024, went overseas again for some visit then now settled in Sydney since Apr 2024. I stayed in Australia for 116 days btw tax year 2023-2024. Shall I be regarded as an Australian resident for tax purpose for Year 2023-2024 for whole year or a resident for tax purpose from Apr 2024 to 30 Jun 2024? Shall I declare my income from overseas for this tax year?
Hi @rebeccafeng,
It depends. You can work out your residency status for tax purposes here.
As per your situation, you've been living overseas for 9 years and only spent 116 days in Australia between 2023-2024 FY. Your usual place of residence was outside Australia and under the 183-day test, It most likely that you might be considered as non-resident for tax purposes
As a non-resident, you'll be taxed only on your Australian-sourced income. So, as a non-resident for tax purposes in Australia, you do not need to pay tax in Australia on your foreign-sourced income, but you need to lodge income tax return to declare all income both in Australia and overseas. If it is too complex, you can seek financial advice.
All replies
Hi @rebeccafeng,
It depends. You can work out your residency status for tax purposes here.
As per your situation, you've been living overseas for 9 years and only spent 116 days in Australia between 2023-2024 FY. Your usual place of residence was outside Australia and under the 183-day test, It most likely that you might be considered as non-resident for tax purposes
As a non-resident, you'll be taxed only on your Australian-sourced income. So, as a non-resident for tax purposes in Australia, you do not need to pay tax in Australia on your foreign-sourced income, but you need to lodge income tax return to declare all income both in Australia and overseas. If it is too complex, you can seek financial advice.
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