You may need to declare any foreign income you earn and pay tax on it. The income you pay tax on depends on your residency for tax purposes. Generally, Australian residents are taxed on their worldwide income and foreign residents are taxed only on income from Australian sources.
As an Australian resident for tax purposes, you must declare income you earn anywhere in the world on your Australian tax return. This is known as your worldwide income. This includes any foreign income you may receive from:
pensions and annuities
employment and personal services
assets and investments
capital gains on overseas assets.
Work out what income you need to declare if you are an:
Should you have any questions regarding foreign income please do not hesitate to contact us.
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