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As a 188 visa holder, what kinds of tax liabilities do I need to fulfill in Australia?

I want to apply for a 188 visa and set up a new business in Australia. What types of tax liabilities do I need to fulfill? What about my business?


Answers
  • Quentin Kuo Law + Immigration
    March 17, 2020

    You should confirm this with a local accountant or lawyer who specializes in tax as we are not suitable to give tax advice. You should also be aware of anyone who gives advice out of their scope of the profession. Some general information is contained on the Australian Tax Office website. You may benefit from this link: https://www.ato.gov.au/individuals/international-tax-for-individuals/work-out-your-tax-residency/#Temporaryresidents There are also many tax and costs related to businesses in Australia.

  • Regis Legal
    February 04, 2020

    This is a question that would need to be directed to professional accountants if you would like specific details. In general, if you are residing in Australia as a 188 visa holder, which is a temporary visa, you are termed a temporary resident and will pay tax only for the income you derive or earn in Australia from your business and any income earned from your employment/services performed overseas while you are a temporary resident of Australia. Your other foreign income will not need to be declared. To find out more details, you are advised to contact a certified tax agent in Australia and also go through the ATO website at https://www.ato.gov.au/Individuals/ and https://www.ato.gov.au/Business/.

  • ANZ Migration
    January 31, 2020

    This is a complex question and best addressed by a qualified tax professional, not a migration agent. However, the information below will assist. You can find information about your tax obligations here as a new migrant - https://www.ato.gov.au/Individuals/International-tax-for-individuals/Coming-to-Australia/Moving-to-Australia-permanently/. One benefit of the Subclass 188 is that as a temporary visa you are entitled to certain foreign income exemptions. This scheme is not available to permanent visa holders (or citizens). You can find more information about the concessions here - https://www.ato.gov.au/Individuals/International-tax-for-individuals/In-detail/Foreign-income-of-Australian-residents/Foreign-income-exemption-for-temporary-residents---introduction/

  • Australian Visa Options
    January 31, 2020

    I would recommend contacting an Australian Certified Practising Accountant (CPA) for tax-related inquiries.

  • Julian-Armitage Migration Lawyers (JAM)
    January 30, 2020

    You will subject to all local taxes at the same level as citizens and residents.