Interests/dividends income tax during tax residency change

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(Dynamo)Dynamo

14 Nov 2024

Hi All

I have one enquire about tax for scenario in title. If someone can help me solve the problem.

Suppose a person change his residency during financial year, may I ask the interests and dividends income tax should be calculated separately for resident period and non-resident period earned or treat the person as resident this whole financial year and just apply tax free month to decrease the tax free threshold?

And if the tax should be calculated separately by two different periods, may I ask it's based on the income arrived date or accrued period? If it is based on arrived date, can the person request the fund to defer the payment date to the time he changes to non-resident?

Thank you all.

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Taxduck

(Taxicorn)Taxicorn

14 Nov 2024

Dividends are declared when they are paid to you. See below

Owning shares | Australian Taxation Office

Similarly with interest, when it is credited to you is when it is declared.

You don't declare Australian sourced interest or dividends received for the period you are a foreign resident provided tax has been withheld by the Australian financial institution or company. See below

Foreign and temporary resident income | Australian Taxation Office