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Overseas incomes of returned citizen before returned date

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I am an Australian citizen living overseas for many years. I plan to return to Australia permanently on Oct 1, 2019.  

My understanding is that once I arrive, I will become an Australian tax resident and all incomes, including those generated outside Australia, will be taxable in Australia.

What I am not sure is the incomes generated before my arrival. The Australian financial year starts on July 1. Are my incomes earned overseas from July 1, 2019 to Sept 30, 2019 taxable in Australia?

 

Please adivse. Thanks

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Hi @laukkr,

 

Welcome to our Community!

 

If you return to Australia part way through the financial year and your residency status changes from non-resident to resident for tax purposes, when you complete your income tax return you can answer 'Yes' to the 'Are you an Australian resident?' question. This will ensure you're taxed at the Australian resident rate for the tax year.

 

You'll be required to report the income you received from July - September in your income tax return as worldwide income. You can find more information about reporting worldwide income on our website.

 

Thanks, JodieH.

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Best answer

ATO Certified

Community Support

Replies 0

Hi @laukkr,

 

Welcome to our Community!

 

If you return to Australia part way through the financial year and your residency status changes from non-resident to resident for tax purposes, when you complete your income tax return you can answer 'Yes' to the 'Are you an Australian resident?' question. This will ensure you're taxed at the Australian resident rate for the tax year.

 

You'll be required to report the income you received from July - September in your income tax return as worldwide income. You can find more information about reporting worldwide income on our website.

 

Thanks, JodieH.

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