While Australia is one of the top destinations for migrants, a native may sometimes look in the other direction and think about moving away to take advantage of new opportunities. If you're in this situation, then you may be strongly considering a move to another country, which may have the advantage of low tax policies. Many people in recent years have been drawn towards the Middle East, where opportunities to help those growing economies abound. However, even though zero tax may be a draw, you still need to be sure that you comply, so what do you need to think about from an Australian tax perspective?
Worldwide Income
This can be a very tricky area to manoeuvre, and you want to ensure that you have good advice, or you may end up having to pay a significant tax bill to the ATO. Even though you may have moved to Abu Dhabi to take advantage of a zero-tax regime, did you know that Australians are generally liable to pay tax on worldwide income nonetheless? In this case, it doesn't matter if you introduce the money to Australia or keep it all overseas, you might still be liable to pay tax on its inherent value.
Tax Residency
There is a way around this, however, so long as you can establish that you are no longer a tax resident of Australia. In this case, you could earn your money tax-free in the UAE and only worry about tax related to rental incomes 'back home' or something similar.
Getting Evidence
You will need to talk with your employer in the UAE (or wherever else you choose to go) to make sure that you have a firm contract of employment, which can be considered to be long-term. You will also need a one-year rental contract or other proof of accommodation, to determine that you will have a permanent place of abode in this country. The more information that you can provide to show that this move is intended to be long-term the better and remember, you're not automatically exempt simply because you have left the country.
Thinking Carefully
To be on the safe side you should definitely talk to a tax consultant, who can help you fill in the right paperwork and get all the information necessary to augment your case. Never leave anything to chance, as an unwanted tax bill could present you with significant financial difficulties.