I looked at this the other day as I have a handful of expat clients.
This is from the Treasury Press release and I believe change of law was part of the last budget legislation (which I think has passed):
Press Release - Better Targeting the Income Tax Exemption for Australians Working Overseas [12/05/2009]
Under the new measures announced today, the Government will amend the general exemption to provide a better targeted exemption which is only available for income earned:
* as an aid or charitable worker employed by a recognised non-government organisation; or
* as a government aid worker; or
* as a specified government employee (for example, defence and police force personnel deployed overseas).
Further, income earned by an individual employed on an overseas project approved by the Minister for Trade as being in the national interest will remain exempt, as provided for by existing rules.
Hopefully your employment can fall under one of the above categories - and if not see if you can get a contract directly with the UN, or some other means to MAKE you fit into one of these categories.
And yes, KRUDD and SWANNY are killing us!
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This is a general comment only and does not constitute advice. Before making financial decisions you should seek advice from a professional adviser, who can take into account your specific circumstances and investment goals.
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