I'm British citizen now living in Austraila (NSW) and am classed as a Australian tax resident. I have a full time (remote) job for a UK company who pay my salary into my UK bank account. I pay no UK tax on my salary as I have a UK tax code of 'NT'. The salary is paid monthly into my UK bank account at which point I transfer some of it to my Austrailian bank account.

So my question is how much tax do I pay on this when I come to do my self-assessment in Australia? Does foreign income count towards my tax-free allowances?

I earn around £70,000 GBP but I will not transfer all of it into my Australian bank account as transferring it cost money (even if I do use TransferWise!). I'm also confused as to how I calculate how much AUD to put on to my tax return. Do I have to use the rate on the day I was paid or the rate when I transferred to mu Austrailian bank account?

Any advice would be much appreciated!


  • The advice is easy: hire an accountant.
    – Dale M
    Commented Oct 7, 2015 at 11:46
  • @DaleM indeed I will but I like to know what needs to be done first
    – Tony
    Commented Oct 7, 2015 at 13:31

1 Answer 1


This page and this page on the ATO website provide some information on tax rates.

They're rather lengthy and there's a few exceptions, but essentially, your entire foreign income, even if held overseas, is taxable. Australians are taxed worldwide.


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