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Hi Guys,

After completing initial entry, if we are waiting to move to Oz, are we required to submit OZ tax tax returns for income earned in other countries ?


What are the other formalities we need to be aware of that we need to perform/ submit

Thank you
 

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Hi Guys, After completing initial entry, if we are waiting to move to Oz, are we required to submit OZ tax tax returns for income earned in other countries ? What are the other formalities we need to be aware of that we need to perform/ submit Thank you
No. You are not considered a tax resident until you are actually physically residing in Australia.
 

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Is there any upper-limit for PR holders on amount of money that one can bring to Oz? I am talking about depositing to Oz bank accounts and not physical cash..

Does all of this money has to be transfarred within first few months of settling as PR or can be transferred after 1-2 years of settling down ??
What if it takes 2 years for PR holder to dispose property at his originating country..

Does PR holders have to pay any taxes for money brought in after 1-2 years ?

Thanks in advance to seniors for their comments..
 

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Is there any upper-limit for PR holders on amount of money that one can bring to Oz? I am talking about depositing to Oz bank accounts and not physical cash.. Does all of this money has to be transfarred within first few months of settling as PR or can be transferred after 1-2 years of settling down ?? What if it takes 2 years for PR holder to dispose property at his originating country.. Does PR holders have to pay any taxes for money brought in after 1-2 years ? Thanks in advance to seniors for their comments..
No limit on the amount of funds you can bring in. If you sell a property overseas and you are a tax resident of Australia you may be liable for tax on any capital gains as a result of the sale. Australian residents are taxed on their worldwide income.
 

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No limit on the amount of funds you can bring in. If you sell a property overseas and you are a tax resident of Australia you may be liable for tax on any capital gains as a result of the sale. Australian residents are taxed on their worldwide income.
Thanks Ozbound....
 

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Hi guys,

i have a very quick question......

Can a PR holder apply for a TFN (Tax File No) while not physically being to Australia?? Also can an individual have a two TFN's??
 

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