A lesson from Shane Warne—don’t forget your overseas income
Thursday, February 15th, 2007Shane never seems to be out of the news, this time for supposed tax evasion. And not just Shane this time, but many of his Australian team mates as well.
This is a timely reminder that you cannot ignore income earned overseas if you also earn money in Australia. Many people think that because they earned income overseas and were taxed overseas, they do not have to declare it on their Australian tax return. Sadly, this is not true. See Tax implications of working overseas for more information.
Note that I am not talking foreign pensions here. That is a different subject entirely, and goes on a different place on the tax return.