Moving countries

Leaving Australia

Your residency
Determining whether or not you are an Australian resident for tax purposes will affect your financial matters, including your tax and superannuation. The Australian Taxation Office (ATO) can assist in determining your residency status for tax.

Your super
If you’re leaving Australia temporarily to work overseas, you don’t want to be doubling up on super payments. Australia has bilateral agreements in place with some countries, so that you or your employer do not have to meet social security obligations in that country, as well as in Australia.

If you’re leaving Australia permanently, there are strict rules regarding accessing superannuation and you should talk to a financial adviser about your situation.

Your estate and finances
If you are leaving behind financial interests such as bank accounts and investments, it’s important to know that they will be properly looked after. With a power of attorney, a nominated person can act on your instructions while you’re overseas. It’s also good practice to keep your will up to date, to ensure that your remaining wealth is distributed according to your wishes after you die. 

Your insurance
Check your insurance policies to ensure that you, your spouse and dependants, are adequately protected, wherever you are in the world. When planning an international move, it’s a good time to review all of your insurance needs.

Moving back to Australia

Your super
If you have retirement style accounts in another country, you may be able to roll them into your new or existing Australian super account.

Your banking
Setting up your banking can take time. Some Australian bank accounts can be opened from overseas, which means you can begin arranging your direct debits, credits and regular payments to the account before your arrive.