tax implements

[gres147]

Hi, We are moving to oz in December. We are planning to live off the interest we earn from our offshore savings account? we are looking to import funds as and when we need them ie $100,000 aud per anum. Can anyone give me advice on oversea investments importing funds to oz. Is there tax implications? if so how much? thanks Brian

[Pinhead]

If you are a taxable resident in Oz you need to declare all your worldwide income on your oz tax return if you are a Permanent Resident.

[gres147]

Originally Posted by Pinhead

If you are a taxable resident in Oz you need to declare all your worldwide income on your oz tax return if you are a Permanent Resident.

Hi pinhead, thanks for your reply, do you know any % of tax band that we will be under for $100,000.00 per anum? Do we have a tax code for a married couple, like the UK before taxes are to be paid? thanks Gres 147

[Pinhead]

This website has the tax bands for next few years on it for permanent residents
Tax Rates

The 'tax free' amount is on it, there isn't a 'married allowance'.
You also pay Medicare levy of 1.5%.