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Hi All,
I have recently moved to Sydney on SI 189 from Singapore.

I am currently by my Singapore company as a consultant for which I will send them an invoice and they will pay fees to my Singapore bank account.

1. Do I need to declare this income in Australia and pay tax on the same?
2. If yes, how do I do that? Do I need a ABN for this?

Any help on this is highly appreciated?

thanks a lot in advance,
Mandar
 

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From the above website:

If you migrate to Australia and intend to reside here permanently, you are an Australian resident for tax purposes. This means:
You must declare income you have earned from anywhere in the world in your tax return.
ABN is a business identification number, and that only applies if you are running a business. As an individual, you need a TFN.
 

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Au residents for tax purposes for sure. I have TFN already.

I figured that out too. But still can't find answer on:
- Do you need to pay tax as foreign income is after tax in that foreign country already? I find tax treaty section are especially complex :(
- Foreign employer won't pay superannuation. Do we need to consider our income inclusive of superannuation? Or superannuation only applies to AU company.
- If we don't live in AU full financial year, would the tax threshold (18k) stay the same or should be divided. Let's say I live & work here 6 months, would the tax free threshold is 18k or 9k?

Any one has experience with tax declaration for foreign income, please share. I'm considering to use tax agent but have no idea how much they would charge and per application or per hour etc...
 

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You can get credit for any tax paid on overseas income assuming Australia has a treaty with that country. You may be liable for additional tax if the other country's tax rate is lower. I assume you are from Vietnam; I am not familiar with tax treaties with that country, you need to talk to a professional who is familiar with tax law.

Superannuation is only paid by Australian employers, not foreign employers.

The tax free threshold applies to any income earned in that financial year.

You really should consider talking to a tax professional about this. You will need to pay but it'll save you the hassle of potentially doing your taxes incorrectly and getting audited.
 
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