All residents of Australia are required to declare all the income that they earn including foreign income. The ATO is on the lookout for people who have been trying to hide foreign income so as to avoid taxation. If you get income from overseas in the form of investments, employment income, or from relatives, you […]
Australian residents are taxed on their worldwide income and as such, there is a requirement to declare income from foreign sources. The challenge is that most people do not understand the tax implications. You should note that the foreign income you receive may be taxed at the origin country and also in Australia. However, there[…..]