Settlement Guide: 5 things to know about declaring foreign income

If you're an Australian resident for tax purposes, you are taxed on your worldwide income, so you must declare any foreign income in your income tax return. So, what does foreign income include?

Tax on overseas property

Source: Getty Images

1. Foreign pensions and annuities

Foreign pension
Source: Getty Images
foreign_pensions_2_getty_images.jpg?itok=56BPQug7&mtime=1467180183

2. Foreign employment income

Foreign employment income
Source: Getty Images

3. Foreign investment income

Foreign investment income
nest_egg_-craig_mccausland_getty_images Source: Craig McCausland/Getty Images

4. Foreign business income

Foreign assets
Source: Oliver Burston/Getty Images

5. Capital gains on overseas assets

getty
Source: Getty Images



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By Ildiko Dauda
Source: ATO

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