QUOTE(MUM @ Nov 21 2021, 10:43 AM)
My guess,....just guess
If you are staying in Australia, then you will be an Australian tax residence. Then bnm will tell their Australia counter part thru their information exchange agreement abt your bank a/c information in malaysia.
Being denominated in MYR, after conversion to AUD, the tax bracket is probably quite low or negligible.
QUOTE
Australian resident
As an Australian resident for tax purposes, you must declare income you earn anywhere in the world on your Australian tax return. This is known as your worldwide income. This includes any foreign income you may receive from:
pensions and annuities
business activities
employment and personal services
assets and investments
capital gains on overseas assets.
Australian residents (for tax purposes) with a tax file number generally pay a lower rate of tax than foreign residents.
https://www.ato.gov.au/Individuals/Income-a...rldwide-income/QUOTE
Australian income tax rates for 2020–21 and 2021–22 (residents)
Income thresholds Rate Tax payable on this income
$0 – $18,200 0% Nil
$18,201 – $45,000 19% 19c for each $1 over $18,200
$45,001 – $120,000 32.5% $5,092 plus 32.5c for each $1 over $45,000
$120,001 – $180,000 37% $29,467 plus 37c for each $1 over $120,000
Maybe it is better to be taxed in malaysia afterall.
This post has been edited by prophetjul: Nov 21 2021, 10:54 AM