ARTICLE · 11 MAY 2025

Moving Overseas? Don't Forget About Your Australian Assets

Coleman Greig Lawyers

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An Australian tax resident is ordinarily liable to be assessed on worldwide income.

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Bailey Fraser

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Whether it be for work, lifestyle or adventure, people relocate overseas temporarily or permanently all the time. Careful consideration is commonly given towards the taxation of one's salary overseas however, far fewer consider how moving will affect their assets (if any) back in Australia.

It is important to note that the notion of Australian citizenship or nationality and the notion of being a tax resident in Australia are separate (you can still be an Australian citizen whilst being a non-resident for Australian tax purposes). An Australian tax resident is ordinarily liable to be assessed on worldwide income. A non-resident for Australian tax purposes is only liable to be assessed for Australian tax on Australian sourced income.

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