International Tax Accountant for Australian and Cross-Border Tax Matters
International tax can become complex when your income, investments, business interests or personal circumstances extend beyond Australia. An international tax accountant can help you understand how Australian tax rules apply to your circumstances, what needs to be reported and where further specialist advice may be required.
Financially Up provides international tax assistance for individuals, expatriates, investors and businesses dealing with Australian and overseas tax issues. We help identify the relevant Australian tax implications, organise information for tax reporting and address cross-border matters in a practical and structured way.
Book an Appointment to discuss your circumstances, your connection with Australia and the international tax matters requiring attention.
Australian tax residency determinations, foreign income reporting, FITO offsets, and expat tax.
International Tax Practice
- ResidencyTax Residency AssessmentsResides, domicile, 183-day & superannuation statutory tests
- Worldwide IncomeWorldwide Income & AssetsForeign wages, pensions, dividends & overseas rental schedules
- FITO ReliefForeign Tax Offsets (FITO)Division 770 foreign tax credit relief & DTA treaty limits
- Expat CGTExpat & Cross-Border CGTDeemed disposals, offshore assets & residency transitions
- AdvisoryCurrency Conversion & ReportingATO approved exchange rates & cross-border tax schedules
What Is International Tax?
International tax deals with situations where more than one country may be connected to a person, transaction, investment, business or source of income.
For Individuals & Expatriates
For an individual, this can include earning income overseas while living in Australia, moving to or from Australia, owning foreign investments or receiving an overseas pension.
For Businesses & Cross-Border Enterprises
For a business, cross-border issues may arise when operating internationally, dealing with overseas entities, receiving foreign income or expanding business activities beyond Australia.
The correct Australian tax treatment can depend on several factors, including:
International tax is therefore rarely determined simply by where money is received or where a bank account is located.
Our International Tax Services
From tax residency determinations and foreign rental reporting to foreign tax offsets (FITO), temporary resident exemptions, and expat CGT.
Foreign Income Tax Reporting
Declaring overseas employment salary, consulting fees, foreign bank interest, overseas company dividends, and foreign trust distributions.
Tax Residency Determinations
Formal assessments under the 4 statutory residency tests (Resides, Domicile, 183-Day, Super) and DTA residency tie-breaker rules.
New Migrant & Temporary Resident Tax
Tax advice for new arrivals and temporary visa holders, maximizing the temporary resident exemption for offshore investment income.
Foreign Rental Property Tax
Reconciling overseas rental income, apportioning foreign mortgage interest and management fees, and converting local taxes to AUD.
Foreign Income Tax Offsets (FITO)
Calculating and claiming foreign tax credits under Section 770-10 of the ITAA 1997, ensuring you do not pay double tax on foreign earnings.
International Capital Gains Tax
CGT on foreign shares, offshore real estate disposals, deemed acquisition on arrival, and deemed disposal CGT event I1 on departure.
Expat Tax Advisory
Tax planning for Australian expats living in the UK, US, Singapore, or UAE, managing Australian rental properties and HECS/HELP debt repayments.
When Might You Need an International Tax Accountant?
Professional international tax advice may be useful when your affairs involve both Australia and another country.
You have moved to Australia
If you have recently arrived in Australia, determining when you became an Australian resident for tax purposes can affect what income must be reported. Tax residency is different from citizenship or immigration status. Our dedicated Tax Residency service explains this area in more detail.
You are leaving Australia or living overseas
Moving overseas does not automatically mean that you stop being an Australian resident for tax purposes. Your living arrangements, intentions, family, assets and other connections may need to be reviewed. A change in residency can also affect the Australian tax treatment of income and some assets.
You receive income from overseas
Australian residents for tax purposes are generally required to report assessable income from Australian and foreign sources, subject to applicable exemptions and special rules.
Reportable Foreign Income Sources
You have paid tax in another country
Paying tax overseas does not necessarily mean the income can be excluded from an Australian tax return. Depending on the circumstances, a foreign income tax offset may be available in Australia for qualifying foreign tax paid on income that is also included for Australian tax purposes.
The amount that can be recognised depends on the applicable Australian rules and, where relevant, the tax treaty between Australia and the foreign country.
You own overseas investments or property
Foreign shares, bank accounts, investment funds, rental properties and other assets can create Australian tax reporting considerations. The tax treatment may depend on your residency status, the nature of the asset, when it was acquired, how it is held and whether you are entitled to any special treatment.
International Tax for Expats
An expat tax accountant Australia service is often required where a person has connections with both Australia and another country. Examples include Australians working overseas, people returning to Australia after several years abroad, temporary residents working in Australia and foreign nationals who have established significant ties here.
An international tax review may consider:
Cross-border situations require examining both domestic tax law and international treaties to ensure complete accuracy.
When Australian tax residency started or ended
Australian and foreign income during different periods
Foreign investments
Property ownership
Capital gains tax considerations
Foreign tax already paid
Applicable tax treaties
Documentation and record keeping
Australian Tax Residency and International Tax
Tax residency is one of the first questions to address in many international matters because it can determine the scope of income potentially subject to Australian tax. Australia applies specific tests when determining whether an individual is an Australian resident for tax purposes.
Resides Test
The primary test. Examines your physical presence, intention, behaviour, family and business ties, living arrangements and assets in Australia.
Domicile Test
Applies if your domicile (origin or choice) is in Australia, unless the Commissioner is satisfied that your permanent place of abode is outside Australia.
183-Day Test
Applies if you are present in Australia for more than half the income year (continuously or with breaks), unless your usual place of abode is outside Australia.
Commonwealth Superannuation Fund Test
Applies to eligible members of the Public Sector Superannuation Scheme (PSS) or Commonwealth Superannuation Scheme (CSS), and their spouses and children under 16.
Whole-of-Circumstances Assessment
A person's circumstances need to be considered as a whole. Being present in Australia for fewer than or more than 183 days does not, by itself, resolve every residency case. Where a person may also be regarded as a resident of another country, an applicable double tax agreement may need to be considered.
Foreign Income and Double Taxation
A common concern is whether the same income will be taxed twice. Australia's foreign income tax offset system can provide relief in eligible circumstances where foreign income tax has been paid on income that is also included in Australian assessable income.
Foreign Income Tax Offset (FITO)
- Applies to eligible circumstances where foreign tax was paid on income included in Australian assessable income
- Foreign tax must satisfy Australian statutory requirements to qualify as an allowable tax offset
- Prevents double taxation by offsetting eligible foreign tax directly against Australian tax payable
- Requires proper documentation and verification of foreign tax assessments and official payment receipts
Double Tax Treaties
- Bilateral tax treaties determine which country has primary or sole taxing rights over specific income
- Limits the rate of foreign withholding tax that can be legally imposed on dividends, interest and royalties
- Affects the maximum amount of foreign tax that can be recognised and claimed as an offset in Australia
- Contains tie-breaker rules where an individual or entity is deemed resident under the domestic laws of both nations
Why Foreign Income and Foreign Tax Must Be Reviewed Together
However, an offset is not automatically equal to every amount paid overseas. The foreign tax must satisfy Australian requirements, and tax treaties can affect which country has taxing rights and the amount of foreign tax recognised. This is why both the foreign income and foreign tax information should be reviewed together.
Currency Conversion and Record Keeping
Foreign amounts generally need to be converted into Australian dollars when preparing Australian tax information. The appropriate exchange rate can depend on the type of amount and the circumstances. ATO exchange-rate information and accepted conversion methods should be used where applicable.
Useful records may include:
Overseas tax returns
Foreign tax assessments
Payslips and employment summaries
Foreign bank statements
Dividend statements
Investment reports
Rental property statements
Purchase and sale documents
Pension statements
Evidence of foreign tax paid
Travel records and residency information
Documents showing the dates you moved between countries
International Tax Services Australia - How Financially Up Can Help
Financially Up can assist with Australian tax matters involving international circumstances by providing structured, practical guidance tailored to your specific cross-border position.
Reviewing your Australian tax position
Identifying the information needed for Australian reporting
Considering your Australian tax residency
Helping report assessable foreign income
Reviewing available information about foreign tax paid
Assisting with relevant foreign income tax offset calculations
Considering Australian capital gains tax implications where applicable
Coordinating tax-return preparation with international information
Identifying areas where specialist foreign legal or tax advice should be obtained
Australian Tax & Accounting Jurisdiction
Our role is to advise on and assist with Australian taxation and accounting matters. Where advice is required on the domestic law of another country, we may recommend that you obtain advice from a qualified adviser in that jurisdiction.
What to Expect
A structured 5-step approach to managing your international tax obligations.
1. Initial discussion
We first establish the countries involved, your Australian connection, the type of income or assets involved and what outcome or compliance matter needs to be addressed.
2. Information review
We review the relevant Australian and overseas information and identify any missing records.
3. Tax analysis
The Australian tax treatment is considered based on your circumstances, including residency, income type, timing and applicable international tax rules.
4. Tax return or advisory work
Where included within the agreed scope, we can assist with tax-return preparation, calculations and supporting schedules.
5. Further advice where required
Complex cross-border arrangements can involve foreign tax law, legal matters, migration law or specialist international structuring. These matters may require separate professional advice.
Why Choose Financially Up?
Financially Up Pty Ltd is a registered tax agent providing taxation, accounting and advisory services to clients across Australia. Our team includes CPA and IPA members and brings more than 10 years of experience across taxation and accounting matters.
Australia-wide service
Comprehensive cross-border taxation and accounting services accessible to individuals, expatriates, and businesses across all Australian states and territories.
Online appointments
Secure virtual consultations via video conference, providing seamless tax advice no matter your international time zone or location.
In-person appointments where available
Face-to-face meetings available at our primary office in North Sydney for clients seeking in-person consultations.
Practical explanations of complex tax matters
Demystifying cross-border double tax treaties, residency statutory tests, and foreign tax credits into clear, actionable advice.
Assistance tailored to the actual facts of your circumstances
Personalised reviews based strictly on the genuine facts of your cross-border connection, residency timing, and foreign asset portfolio.
Frequently asked questions
Common questions about overseas income, Australian tax residency, foreign tax offsets, and currency transfers.
Australian residents for tax purposes are generally required to declare assessable income from both Australian and foreign sources. Exceptions and special rules can apply, including rules for certain temporary residents and exempt income.