If you’re an Australian resident for tax purposes and you receive income from overseas you generally need to declare it on your Australia tax return. If you have paid tax in a foreign country you might be able to claim that as a foreign tax credit offset to reduce your Australian tax liability. This sounds [...]
All Australian residents for tax purposes must declare all income they earn on their Australian Income Tax Return, whether the income is earned in Australia or overseas. Under the Common Reporting Standard for the automatic exchange of financial account information, banks and other financial institutions will collect and report to the ATO financial account information on [...]
