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  • 3 Post By Ephemeral

Moving back to Australia

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  1. #1

    Join Date
    Aug 2009
    Posts
    4

    Moving back to Australia

    Hello
    I am an HK PR and an Australian citizen. I am moving back to Australia in June and wanted to know what advantages are there being a PR and an Australian citizen...especially financially. Thanks


  2. #2

    Join Date
    Feb 2020
    Posts
    24

    It’s quite simple. Once you move back to Australia, assuming it’s at least semi-permanent, you will become an Australian tax resident once again. This means all Australian and globally-sourced income is taxed in Australia at Australian rates (although depending on the country, there may be an offset for any foreign tax paid).

    In other words, there are no “extra” tax benefits from being a Hong Kong PR while an Australian tax resident.

    As always, seek proper advice from your accountant.

    jgl, shri and traineeinvestor like this.