28/05/2026
If you've earned money overseas this year, it doesn't just stay overseas for tax purposes.
As an Australian resident for tax, foreign income - whether from a job, freelance work, or even a bank account abroad - needs to be declared in your return.
The silver lining: if you already paid tax on it in another country, you may be able to claim a foreign income tax offset. No double-dipping from the ATO!
Two things to keep in mind... Many countries have a different tax year end so make sure you're working with the right figures, and all foreign income needs to be converted to Australian dollars.
We are here to help you work through the details - talk to us at your next appointment.