[Aphex]

Hi everyone

I hope you can help me.

I will start sending money back to my Australia bank account. I will probably send back around 2k-3kUSD per month. What will be the tax implications for doing this?

Can anyone also recommend an Australian Tax Specialist in HK?

Regards

[Skyhook]

If you didn't earn the money in Australia and can prove you have not lived there for a period longer than 6 months, you're 100% tax free.

Why do you need a tax specialist to know that ?

Its also pretty clear on the ATO website in regard to Australians working abroad, in which we are no longer recognised as taxable residents after 6 months away.

However, if you fall under the 6 month rule you will be subject to dual taxation qithin, but not there after.

[gwal]

I would say the Australian tax rules are not as simple as a 6 month test, this is but one of a few tests to determine residency for taxation purposes.

There is also domocile test - ie if your normal permanent residence is in Australia - even if you move overseas for a year or two it may still be viewed that you are domocile in Australia. Sending money back to Australia monthly would be a pretty strong indication that you do intend on returning to Australia at some time so you may still be a resident.

[MovingIn07]

with the money. If it sits in a savings account, this might not indicate a close link. If you are using it to fund a mortgage, pay kids school fees , look after your aging parents or whatnot, you are clearly highlighting a continuing link with Aus. We sold our Aus house when we left, and closed a number of bank accounts, to make it clear that we had "gone" - so I think you probably do need tax advise. If all you are doing is sending money back for saving, just get a multicurrency account here (HSBC do them as standard, as one example) and you can convert it into AUD and earn AUD interest rates right here in HK......