Example: A non-resident working temporarily in Australia and earning A$90,000 ($58,500) will pay 32.5%, which is equivalent to A$29,250 ($19,012).
Goods and Services Tax (GST)
GST is a 10% tax levied on most goods and services new zealand phone number library in Australia. Although it is paid directly by businesses, consumers bear the cost of the tax in the final price of their purchases. Some basic goods, such as essential food items, medical services and education, are exempt from this tax.
Capital Gains Tax (CGT)
CGT applies to gains made from the sale of assets. That is, youshares or investments. The rules are different for residents and non-residents:
Tax residents: are taxed on capital gains generated anywhere in the world. In addition, they can benefit from a 50% discount if they hold the asset for more than 12 months before selling it.
Non-tax residents: are taxed only on profits obtained from assets located in Australia and do not have access to the 50% discount.
Example: If you buy a property for A$500,000 ($325,000) and sell it for A$700,000 ($455,000) after two years, as a resident you will only pay taxes on half of the gain: A$100,000 ($65,000).
If you rent out a property in Australia, the income generated is subject to income tax. You can deduct certain expenses related to the maintenance of the property, such as repairs, mortgage interest and management fees.
Will have to pay it if you sell property
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