Expert Info

Posted by palakkadiyer
on 7 Apr 2017
Can someone answer my Doubt? On getting PR, and am not planning to be employed in Australia, will the Money I remit from other country in a Savings Bank Account in any Australian bank be Taxable and if so, How much ?
Anonymous (not verified) on 10 Apr 2017 - 05:50
Yes but unless you have a very large amount of money, it won't be earning much interest in a bank deposit account. If that's your only source of income you will not pay any tax on the first $18,200. That should see you in the clear. This assumes that the money you transfer from abroad has already been taxed of course and is covered by a double taxation agreement.