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Target foreign income

What is target foreign income, and instructions for completing the target foreign income section.

Last updated 4 March 2024

Target foreign income is:

  • any income earned, derived or received from sources outside Australia
  • a periodical payment by way of gifts or allowances from a source outside Australia
  • a periodical benefit by way of gifts or allowances from a source outside Australia

provided that the amount has neither been included in your taxable income, nor received in the form of a fringe benefit.

Types of target foreign income you need to show at this section include:

  • regular receipts of money and gifts from relatives living overseas which are exempt from Australian tax
  • income from foreign business interests and investments, which are exempt from Australian tax, including income received by migrants with business interests in their country of origin
  • foreign source income received while you were a temporary resident that is exempt from Australian tax
  • the amount of exempt foreign employment income you have shown in your tax return.

If you are not sure whether any foreign income you have received is target foreign income, phone 13 28 61.

Completing this section

If you have already entered exempt foreign employment income in the Foreign income, assets and entities section, that amount may be shown here. Otherwise, you will need to include it in the total target foreign income.

  1. Enter the total amount of target foreign income you received during 2017–18.
  2. Select Save and continue when you have completed the Income tests section.

Note: Information shown in myTax may be updated based on you entering data in other sections. Before you lodge, you should review this information again to ensure it is correct.