Does having Australia as your 'domicile of choice' effect the taxation status on overseas income for temporary residents (410 visa holder) Any advice much appreciated
Your question is a little confusing, but I think you're asking about the taxability of overseas income in Australia while a temporary resident.
As you can see HERE the ATO's residency test is easy to apply. As your visa does NOT lead to permanent residency or to citizenship, you do NOT pass the residency test. Thus, you are taxed only on Australian earned income in Australia. The tax rules of your home country will tax any income you earn there, and it may tax any income you earn in Australia. I STRONGLY suggest that you contact your tax agent in your home country to determine what (if any) the tax treaty between Australia and your home country says.
Visa Application: Sent to ASPC: 12Mar2007 Application received: 16Mar2007 Acknowledgement received: 10May2007 Credit Card Charged: 10May2007 CO assigned: Not set yet... Medicals sent UNrequested: 26Jul2007 PPC sent UNrequested: 18Jul2007 VISA Approved: 07Nov2007 Move: 17Apr2008
Posts: 170 | Location: Sale, Victoria, Australia | Registered: 05 April 2005
410 visaholders are usually tax resident in Australia if they are living in Australia. They are though in a special subset of tax residents - temporary tax residents - which means that only Aus source income is assessable in Australia, at resident rates of tax.
As Marilyn says, also check any applicable Tax Treaty provisions.
Best regards.
Alan Collett alan-at-gomatilda-dot-com Registered Migration Agent Number 0102534 Fellow of the Institute of Chartered Accountants in England and Wales Member of the Institute of Chartered Accountants in Australia http://www.gomatilda.com and http://www.gmtax.com.au Offices in Southampton - England; Melbourne, Perth, and Brisbane - Australia
Posts: 3393 | Location: Southampton, UK | Registered: 01 August 2002