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Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
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Income coming from overseas

This post is archived and may not be up-to-date.

Newbie

Views 933

Replies 3

Hello,

I am australian citizen now, but 10 years ago I was leaving and working overseas. I recently received a payment from an employer I was working with before to come here. I thought that money will be lost but now it is sitting into and account in my name overseas and I want to bring that money here. My question is, Do I have to pay tax over that amount? If so How much it will be?. The amount I want to bring is US$20,000.00. Thanks

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Community Moderator

Replies 2

Hi @LOBENU,

 

If the money was earnt as income when you were a non-resident then you don't need pay any tax on it.

 

You are free to transfer it here without any income tax as it is not income.

 

KylieS

3 REPLIES 3

Most helpful response

Community Moderator

Replies 2

Hi @LOBENU,

 

If the money was earnt as income when you were a non-resident then you don't need pay any tax on it.

 

You are free to transfer it here without any income tax as it is not income.

 

KylieS

Newbie

Replies 1

Thanks Kylie for your prompt answer. Do I have to declare this amount into my tax return?

Community Moderator

Replies 0

@LOBENU, No you don't need to declare it.