manraysky

Hi all

I just had a quick question about tax returns as I am fairly sure people here have experience with them ! If I have X amount of money in a regular UK savings account, and earn interest on it over the year. Do I need to declare that on my tax return? Even though it would be a minimal amount?

Any help greatly appreciated.

Cheers

ExSmoggie

If you are an Australian Resident for tax purposes then the answer is yes, you need to declare all worldwide income in your Australian tax return.
If you are not an Australian Resident for tax purposes, then no, you only need to declare your Australian income.

manraysky

Thanks for the help. Much appreciated.