I have a realtive who is an Indian resident and lives in India. He has a Bank account here in Australia that he opened when he last visited to Australia. He has been transferring some amounts to his account for savings which he wants to later use to invest in a property in Australia.
He is Non-resident and doesn't have a Tax File file number.
1. So what are his Tax Obligations if any? Does he need to pay any Tax on that transfer or savings?
2. Is there a limit on how much amount can he Transfer or Save in this account?
3. Can he use this money to buy an Investment property in Australia?
4. What information does he need to provide about the account or Transfer to ATO if he needs to?