Tax implications for an Australian citizen/resident

[James111]

I have reached the final stages of job interviews for a job with a new company in Bangkok. I was expecting them to fly me there for final interviews in the coming few days, but salary was raised at the end of the last discussion. The salary budget is lower than I expected. I'm trying to work out the financial impact of that package which is influenced by the tax implications. My accountant is on holiday and the info online isn't clear. 

 

In sum: 

• I'm an Australian (and UK) citizen, with two properties in Australia. If I move overseas I'd rent my current home
• I have no clear plan for the future at this stage, how long I'd stay in Bangkok, if and when I might move back to Australia or elsewhere
• It's a permanent role

 

It looks like there is a treaty between the Thai gvt and Australian gvt, but I'm not clear on what that actually means. It might simply be the Australian ATO takes further tax up to the Aus tax rate for the income level; or perhaps it might mean I'd only pay tax in Thailand. 

 

If I need to pay tax in Australia (the difference after taking into account tax to Thai gvt), then this job opportunity may not be viable. Some roles in the company are paid at a lower than usual tax rate as per agreement with the Thai gvt, but we're unclear in this moment this role would meet that criteria. If so, and that's the only tax I need to pay, then this job is perhaps feasible. 

 

Any advice from someone who knows about this would be much appreciated, so I can work out if it's worth me flying there in the next few days. Please note this is not a discussion about cost of living comparisons etc. It's purely focused on the tax position. With having properties in Sydney that I don't want to sell, it seems like the Aus gvt may interpret that as Sydney is still my 'base' (when in fact it might not end up being so). 

 

Thanks so much.

 

[gamb00ler]

You might want to check the ATO rules on tax residency.

ATO

[mshs]

There is hesitation and it's not going to be fun.

You could find yourself rationalizing into the job and that would be that.