Before you leave Australia it is important to consider the tax issues that may affect you as an expat, both in Australia and in your new location.
Your tax position whilst overseas will depend on a number of factors including your overseas location, the duration you are away and the nature of your investments.
Issues that you may need to consider could include:
- The tax rates in the overseas location
- Your tax filing obligations in Australia and overseas
- How your employment income will be taxed
- Will your investment income be taxed in the overseas location
- What tax deductions you can claim in Australia
- The impact of your overseas travel on your superannuation or retirement plans
These are complicated issues and you should seek professional advice in relation to your own specific circumstances.