ill put this in hypotheticals as im not too sure about alot of it...
lets say, hypothetically, I lived overseas for a number of years and wanted to transfer my savings back to australia on my return or immediately preceeding it. i have been told that after already being taxed o/s i will also be taxed in Oz.
if this is the case, if I set up an offshore bank account (which I assume is legal to do) can i transfer earnings (or future earnings at a later date) to Australia without having to pass it through my country of residence? or is this a no-no?
i have read that it is possible to move money into an o/s pension fund and legally send it back to Oz upon return, but only once, without having to pay tax on it?
it sounds like a grey area to me
any opinions are welcomed
lets say, hypothetically, I lived overseas for a number of years and wanted to transfer my savings back to australia on my return or immediately preceeding it. i have been told that after already being taxed o/s i will also be taxed in Oz.
if this is the case, if I set up an offshore bank account (which I assume is legal to do) can i transfer earnings (or future earnings at a later date) to Australia without having to pass it through my country of residence? or is this a no-no?
i have read that it is possible to move money into an o/s pension fund and legally send it back to Oz upon return, but only once, without having to pay tax on it?
it sounds like a grey area to me
any opinions are welcomed