Tax Advisor Foreign Income Sydney
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Miroslaw Zawadka
We’ve been working with Rafal for the past two years, and I couldn’t be happier with his services. He’s incredibly reliable, always professional, and takes the time to explain things in detail. One of the best parts is that he speaks both Polish and English, which makes communication a breeze. Highly recommend him for anyone looking for an experienced and trustworthy accountant!
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Damian Liszka
I have been using the Tax Accounting Group for over one year. I am very pleased with the professionalism of Rafal’s services. He is very knowledgeable and has a lot of passion for his work. As a small business owner I highly recommend the Tax Accounting Group to anyone who wants outstanding tax services.
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Mike Daws
Raf has been taxing care of my company’s tax for the last few years. A big positive change from the previous two tax agencies I had tried. Raf takes a personal, hands-on attitude – I feel as though he treats my company accounting as though it were his own. Raf is extremely knowledgeable and helpful.
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Camellia Nguyen
It was such a relief for me to let Raf do all of my tax return in the past few years. There is alot of thing I don’t know about doing a proper tax return. Since I used Raf’s service, I received a much bigger return that I had previously. One less thing to worry about every financial year: check!
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Cuba Daniel
I’ve been through several different accountants in the past and no other accountant put so much time and effort into understanding my family businesses including our complex family business structure than Tax Accounting Group and Raf in particular. My family had overdue returns, my businesses had messy accounts (despite paying bookkeppers) and I always felt like I was overpaying my taxes. Raf and his team not only brought all my accounts up to date and prepared all my outstanding business returns but Raf also made sure I understood what he was doing. He even found some errors in my already lodged tax returns and amended them saving me a couple of thousands! Raf is very responsive and would always promptly answer every question I had. He knows his stuff and is very easy to talk to. Thank you for your hard work!
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Adrian Taylor
I have used Raf for my personal tax returns over the past couple of years. He is extremely helpful and knowledgeable regarding the process and made suggestions on things we could claim for that my wife and I never even considered previously. I have typically taken a DIY stance when it came to tax returns prior to going through Tax Accounting Group; though this often meant i only got to claim back a couple of hundred dollars in previous years. This time i got a $3000 refund and last year $2500. So for the price I paid for engaging Raf to do my last couple of tax returns, it was worth it many times over. Definitely recommend others to use them and in doing so support this local small business.
An overseas tax statement lands in your inbox.
It might be from an employer, bank, property manager, pension provider, share platform, foreign company or accountant in another country. The income was earned somewhere else, and tax may already have been withheld or paid there.
Now the question is simple, but the answer may not be:
What does Australia need to know about this?
I’m Rafal Slowinski, Director of Tax Accounting Group Pty Ltd. I help clients in Sydney work through foreign income questions before a personal tax return, business return or ATO issue is built on the wrong assumption.
Foreign income is not only an “international tax” problem. Sometimes it is a payslip, rental statement, dividend notice or bank account that needs to be reported correctly.
Rafal Starts With The Source Document
Rafal Slowinski is a highly accomplished tax specialist and the Director of Tax Accounting Group Pty Ltd. He holds a degree in Accounting and Tax Law from the University of New South Wales, and his work has focused on making complex tax issues easier for Australian taxpayers and business owners to understand.
He has partnered with more than 2,000 businesses, providing tailored accounting solutions and sophisticated, compliant tax minimisation strategies. He is known for taking a proactive approach, identifying hidden efficiencies, safeguarding wealth and helping clients solve serious financial and regulatory challenges.
For foreign income, I do not start by guessing based on the country name.
I start with the document. What type of income is it? Who paid it? Which country was involved? Was tax withheld? What dates does it cover? Is it personal income, investment income, business income, trust income, pension income or a capital gain?
The document usually tells us where the next question sits.
Foreign Tax Paid Does Not End The Australian Question
Many clients assume that if tax was paid overseas, the income has already been dealt with.
That may not be the full story.
Foreign tax paid can be important, but the Australian return may still need to show the income, the foreign tax paid and the way the amount has been converted or treated. The final outcome can depend on your tax residency position, the income type, the country involved and whether the records clearly show what was withheld or assessed overseas.
A foreign payslip, dividend statement, or rental summary may appear complete in another country but still requires careful handling here.
I help you read the foreign record from an Australian tax perspective, so the return is not prepared from a shortcut.
The Income Type Changes The Work
Foreign income is not one category.
Overseas wages are different from foreign dividends. A foreign pension is different from rental income. Interest from an overseas bank account is different from selling an overseas property. Business income from another country can raise different questions again.
The treatment may depend on:
where the work was performed
where the property is located
whether tax was withheld overseas
whether the amount was paid in foreign currency
whether the income belongs to you personally, a company, a trust or a business
whether the income relates to an asset that may later create capital gains tax questions
As a tax advisor for foreign income in Sydney, I help separate those items before they are placed into the return.
That is how the income becomes understandable, rather than being treated as a single confusing overseas figure.
Currency, Dates And Evidence Matter
Foreign income is often reported in another currency.
That means the amount shown overseas may not be the same amount that needs to be considered for Australian tax reporting. The date of payment, the reporting period, the exchange rate used, the foreign tax paid and the supporting documents all matter.
This becomes especially important when income comes from several sources.
A client may have a foreign pension, overseas bank interest, managed fund income, dividends and a rental property in the same year. Each item may arrive in a different format, currency and tax period.
I help organise the records so the return can be prepared from a clear set of figures rather than from mixed documents and rough conversions.
Overseas Property And Investment Income
Foreign property and investment income often create more paperwork than expected.
A rental property overseas may involve rent, property management fees, repairs, local taxes, loan interest, insurance, foreign bank accounts and exchange rate issues. Shares or managed funds may involve dividends, withholding tax, capital gains, statements from overseas platforms and different tax-year reporting periods.
The Australian return may also need a future view.
If an overseas property, shareholding or investment is sold later, the records kept now may affect the capital gains tax calculation. Purchase documents, improvement costs, sale records, foreign tax statements and ownership history can become very important.
I help you think about the current return and the records that may be needed later.
If Foreign Income Was Left Out Before
Sometimes the foreign income question appears after a return has already been lodged.
Maybe the statement arrived late. Maybe the income was small and seemed unimportant. Maybe tax was paid overseas, and you assumed nothing else was needed. Maybe the ATO has asked a question.
If that has happened, the next step is to understand what was missed and which year it belongs to.
I can review the income documents, prior return, foreign tax paid and Australian reporting position. If an amendment or correction should be considered, I can explain what information is needed before that step is taken.
Ignoring the issue usually makes the uncertainty last longer.
Bring The Overseas Statement To Rafal
If you need a tax advisor for foreign income in Sydney, bring the document that created the question.
It may be a payslip, pension summary, rental statement, dividend report, bank interest notice, foreign tax assessment, property sale document or ATO letter.
Rafal can help work out what the income is, how it connects to your Australian tax position and what records are needed before the return is prepared or corrected.
Frequently Asked Questions
Foreign tax paid does not automatically remove the Australian reporting question. The income type, your tax residency position, the country involved and the foreign tax record all need to be reviewed.
Keep payslips, foreign tax assessments, pension statements, dividend reports, bank interest records, rental statements, property documents, withholding tax records and any document showing the currency, date and tax paid.
Yes. Rafal can help separate the income by source, country, currency, tax paid and reporting year so the Australian return is not prepared from a single unclear overseas total.
Rafal can review the documents, the year involved and the return that was lodged. If a correction or amendment is considered, he can first explain which records are needed.