# Let’s talk savings!



## Ashryar (May 19, 2018)

The query is for many fellow expats from India in Australia. Australia is country with high income tax with less number of tax saving instruments as compared to India. This post is for discussing various ways so that we can minimise our tax returns and maximise our savings and returns on investments.

Please share your experiences and suggestions!


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## Bevdeforges (Nov 16, 2007)

The first thing to establish is the Australian tax law on foreign or "worldwide" income. If you're required to report/declare your "worldwide" income while tax resident in Australia, you may very well wind up having to pay tax on earnings from "tax-free" or "low tax" investments in India or elsewhere.
Cheers,
Bev


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## Moulard (Feb 3, 2017)

If you migrate to Australia and intend to reside there permanently, you are an Australian resident for tax purposes. This means:

You must declare income you have earned from anywhere in the world in your tax return. This includes capital gains and interest on/from foreign investments.

You can also claim the benefits of the Australian tax system, such as: 

- the tax-free threshold
- tax offsets
- generally lower tax rates than a foreign resident.

While everyone wants to minimise the taxes they pay, remember they help pay for the services and facilities that make Australia an attractive place to live.


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