Income Tax for non residents
I retired in January this year at age 61 after receiving a redundancy package. As of January I ceased receiving any taxable income with the exception of a small amount of bank interest I have opened a pension account (income stream), which is my only source of income and not taxable whether I am a resident or not.
If I apply for residency in Germany during the same financial year that I was still receiving a salary in Australia will I be taxed on that salary at non resident rates i.e retrospectively? Or am I only taxed on any Australian income I receive whilst a non resident?
U will be taxed at resident's rates
you nominate on your tax return for that year the date you ceased to become resident for tax purposes in Oz
All taxable income derived in Oz post that date will be at 30%
TO maximise your tax rebate, leave after 30 June