Moving to Australia in September - Tax query
Aug 14th 2019, 9:30 am
#1
Just Joined
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Joined: Jun 2019
Posts: 7
Moving to Australia in September - Tax query
Hi everybody, this is my first post here and need some advice.
I have a Parent Visa (Permanent Residence) 143, and will be moving to be near my daughter towards the end of September NW of Melbourne.
I'll be transferring the proceeds of my house sale to my NAB a/c, but my concern is that as that money won't immediately be used to buy another property (which won't be ready for 12 months so I'll be staying with my daughter) will the Australian Tax Office treat it as earned income for Tax purposes?
Thanks for any advice.
I have a Parent Visa (Permanent Residence) 143, and will be moving to be near my daughter towards the end of September NW of Melbourne.
I'll be transferring the proceeds of my house sale to my NAB a/c, but my concern is that as that money won't immediately be used to buy another property (which won't be ready for 12 months so I'll be staying with my daughter) will the Australian Tax Office treat it as earned income for Tax purposes?
Thanks for any advice.
Aug 14th 2019, 12:00 pm
#2
BE Forum Addict
Joined: Jan 2003
Location: Brisbane
Posts: 1,576
Re: Moving to Australia in September - Tax query
I'll be transferring the proceeds of my house sale to my NAB a/c, but my concern is that as that money won't immediately be used to buy another property (which won't be ready for 12 months so I'll be staying with my daughter) will the Australian Tax Office treat it as earned income for Tax purposes?
