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Aussie Tax. Nothing as certain as death and taxes ?

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jasonnaite
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Aussie Tax. Nothing as certain as death and taxes ?

Postby jasonnaite » Fri, 01 May 2009 3:22 am

Hi
really confused about the aussie tax rules. ATO website is just rubbish.

if i'm australian working in singapore for under a year am i still considered an "australian resident" for tax purposes?

or does everyone just claim to be a "non-resident" because that would mean not having to pay aussie tax?

some have spoken of a mystical way in which we don't have to aussie tax, anyone keen to demystify the myth?

will be approaching a tax agent soon but just wanted some background info
thanks in advance :wink:

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sierra2469alpha
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Postby sierra2469alpha » Fri, 01 May 2009 8:38 am

Jasonaite - yes it is confusing. Don't confuse the ATO's definition of "resident" with what us normal people call "resident". You're much better off to think "resident for tax purposes" when thinking about this.

The main guts of it all has to do with the 183 day rule. In essence, this means if you reside outside Australia for 183 days or more, you pass one test of being "non-resident for tax purposes". Got to ato.gov.au, enter "183 day" in their search bar, and it brings up most of the articles you need to get a grip on the concept.

To second guess your possible next question - "what happens if I rent my house out - will it be CGT exempt when I sell it", is like opening that old can of worms, but am happy to share my understanding of it should you require.

HTH, Mr. P


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