A person is Australian tax resident for part of FY24, let’s say until end of April 2024. They would disclose worldwide taxable income for the first 10 months of FY24 whilst Australian tax resident. They then disregard any foreign income earned in May24 and June24 as non-residents are only taxed on Australian source income.
Does this mean IT4 target foreign income also disregards any foreign source income, e.g. foreign employment income earned in May24 and Jun24 as the individual is no longer an Australian tax resident at this time?
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