Must I declare my profits from FX trading for tax purposes?

Tax implications working in multiple countries?

• Hi A couple of questions. 1. Can anyone suggest a good OS tax specialist in Australia - teven better would be in Dubai! - the question below will indicate the requirement. 2. I work in Dubai and have done for more than 3 years so I understand my earnings will not be subject to tax when I move back except the first 90 days. I have also come into s small amount of money (around 200k) from a relative who passed away in Australia recently. For the past 9 months I have been foreign exchange trading and plan to to continue this as my primary source of income for the foreseeable future. I will be 50 at the end of the year and am investigating retiring to Thailand as I can get a retirement visa there and can trade fx without having to pay tax there on the earnings as all moneys will be earned into OS accounts - I believe although need a confirmation on that. So - to avoid paying tax in Australia - and lets face I won't be living there so why should I - how should I best manage this. Do I place my earnings and funds in an offshore account. Should I xfer the 200k out of Australia and into the offshore and how do I ensure the taxman does not follow me on this Do I have to pay tax in Thailand on money earnt from fx trading if on a retirement visa - in Australia if I lived there and earnt it I know I would have to declare it but I don't think so in Thailand? To get a Thai retirement visa I believe all I need to do is put around $35,000 into a Thai bank account for a period of 3 months and then apply for the visa... As you can see I have so complexity here and would appreciate advice and direction to an Aussie tax agent who can help in Dubai or Australia or Thailand. Thanks!

• Answer:

  Try an international wealth management company. There are plenty in Dubai via the major banks. There are also offshore specialist like HSBC: http://goo.gl/f7vVJ