A-Z index

Foreign investment funds

Foreign investments
Australian residents are taxed on their worldwide income, so if you made a capital gain on an overseas asset, have interests in foreign companies or foreign trusts, or have a foreign life insurance policy, you need to tell us about your income from these investments on your tax return.
Investing overseas
As an Australian resident you are taxed on your worldwide income, including your income from offshore bank accounts, interests in foreign entities, rent from overseas properties and selling overseas assets. If you have paid tax on this income in another country, you can claim a foreign income tax offset in Australia.