• Foreign income

    If you're an Australian resident for tax purposes, you are taxed on your worldwide income, so you must declare any foreign income in your income tax return.

    Foreign income includes:

    • foreign pensions and annuities
    • foreign employment income
    • foreign investment income
    • foreign business income
    • capital gains on overseas assets.

    As your foreign income may also be taxed in the source country, it is potentially subject to double taxation. To overcome this, Australia has a system of credits and exemptions and has signed tax treaties with more than 40 countries, including all our major trade and investment partners.

    If you're not an Australian resident for tax purposes, you are only taxed on your Australian-sourced income, so you generally don't need to declare income you receive from outside Australia in your Australian tax return.

    See also:

  • Last modified: 23 May 2016QC 31917