Paying Tax on money transfered from the UK
#16
Re: Paying Tax on money transfered from the UK
Some info from the ATO site on foreign income and tax treatment.
http://www.ato.gov.au/corporate/cont...t/00313612.htm
It states 'If you have assessable income from overseas, you must declare it in your Australian income tax return. If you have paid foreign tax in another country, you may be entitled to an Australian foreign income tax offset, which provides relief from double taxation.'
If you're a permanent resident your foreign interest should have been declared at Question 20 on your tax return:
http://www.ato.gov.au/individuals/co...t/00313892.htm
http://www.ato.gov.au/corporate/cont...t/00313612.htm
It states 'If you have assessable income from overseas, you must declare it in your Australian income tax return. If you have paid foreign tax in another country, you may be entitled to an Australian foreign income tax offset, which provides relief from double taxation.'
If you're a permanent resident your foreign interest should have been declared at Question 20 on your tax return:
http://www.ato.gov.au/individuals/co...t/00313892.htm
Last edited by NickyC; Jan 15th 2013 at 7:24 am.
#17
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Thread Starter
Joined: Jul 2008
Posts: 219
Re: Paying Tax on money transfered from the UK
Some info from the ATO site on foreign income and tax treatment.
http://www.ato.gov.au/corporate/cont...t/00313612.htm
It states 'If you have assessable income from overseas, you must declare it in your Australian income tax return. If you have paid foreign tax in another country, you may be entitled to an Australian foreign income tax offset, which provides relief from double taxation.'
If you're a permanent resident your foreign interest should have been declared at Question 20 on your tax return:
http://www.ato.gov.au/individuals/co...t/00313892.htm
http://www.ato.gov.au/corporate/cont...t/00313612.htm
It states 'If you have assessable income from overseas, you must declare it in your Australian income tax return. If you have paid foreign tax in another country, you may be entitled to an Australian foreign income tax offset, which provides relief from double taxation.'
If you're a permanent resident your foreign interest should have been declared at Question 20 on your tax return:
http://www.ato.gov.au/individuals/co...t/00313892.htm
#18
Re: Paying Tax on money transfered from the UK
I did a H&R tax course a few years ago and it was covered in that. It was a few years ago and things might have changed so worth checking with someone with up to date info