I used to live in Australia up to October 2022 when I moved to NZ. Up until then I had an income protection policy for over 20 years and have claimed the deductions against my Australian Income when I was living in Australia. Since October 2022 I have maintained my policy as it is more beneficial to do that. The policy covers global income which means it covers my NZ income. I am a permanent resident in NZ and have not Australian sourced income only NZ salaries and Wages. My question is this. If something happens and I need to claim on the policy in Australia will that income be taxable in Australia. I am not earning any income in Australia; I am a non-resident for Tax purposes. I do have Australian Bank Accounts however no income other than interest is received in those accounts. It is likely this income will be taxed in NZ should I happened to receive it in the future. Note I currently am not receiving income under this policy this question is about the future.
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681 views
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Hi @dmclellan2000,
As a non-resident of Australia, you'd liable for tax on income protection payments. Especially those that have an Australian source.
Similar question has been asked and answered on this forum.
All replies
Hi @dmclellan2000,
As a non-resident of Australia, you'd liable for tax on income protection payments. Especially those that have an Australian source.
Similar question has been asked and answered on this forum.
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