Hi there
I hope you are well. I spoke with a UK/Australian Tax Specialist today but wanted to confirm with the ATO to double-check. I am expecting to receive a short term 482 temporary shortage VISA in the next few weeks, it will last for 2 years. I am not in a de facto or any relationship with an Australian Citizen or Permanent Resident — which he said makes me a “temporary resident”.
On this basis, he said I would not be taxed on any overseas investments gains or income. I have stocks, shares and am the director of a small UK company, which I won’t be receiving an income from. He said until I receive Permanant Residency, I won’t have to move my positions in any of the above to Australia. However he said once getting PR, they would become included in the taxable parameters of Australian tax law.
Is that all correct? Thank you for your time.
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