NRI in Australia: India money, tax and document checklist
Indians living in Australia must track the ATO's worldwide-income tax system and India's NRI day-count test separately. Australian tax residents declare NRO interest and Indian rental income to ATO. The India-Australia DTAA covers key income types. Superannuation is generally inaccessible until Australian retirement age. AUD-INR transfers are cheaper via Wise than Australian banks.
ATO taxes worldwide income — declare India income to ATO
Australian tax residents pay Australian tax on worldwide income including NRO interest, Indian rental income and Indian capital gains. The India-Australia DTAA (1991) reduces double taxation. Superannuation cannot be accessed before Australian preservation age (60–65). NRI status in India is determined by India day-count test, not Australian residency.
Key points
- Superannuation locked until Australian retirement age — Super cannot be accessed before preservation age (60, or 55 for older funds) unless you permanently depart Australia.
- India banking — Redesignate Indian accounts on becoming NRI; separate NRE for AUD savings and NRO for India-source income.
- AUD to INR — Compare AUD-INR across Wise, OFX and Australian banks — bank transfers carry 2–3% spread vs Wise mid-market rate.
Australian tax and India income
ATO taxes Australian residents on worldwide income. NRO interest, Indian rental income, dividends and capital gains from India must be declared in your Australian tax return.
India-Australia DTAA: obtain a Certificate of Residency from ATO and submit with Form 10F in India to claim reduced TDS rates on India income.
FBAR equivalent: Australia does not have a specific foreign-account reporting form equivalent to FBAR, but all foreign income must be declared in the Australian tax return.
Annual checklist
Australian visa (temporary), PR or citizenship documents and passport expiry.
India NRE/NRO account KYC and designation review.
AUD-INR transfer planning, India ITR deadline and Australian tax return deadline (October 31 with a registered tax agent).
Frequently asked questions
Can I access my Australian superannuation if I return to India?
If you permanently depart Australia and are not an Australian citizen or permanent resident, you can apply for a Departing Australia Superannuation Payment (DASP) — 65% withholding tax applies. Australian citizens and PRs generally cannot access super until preservation age.
Do I need to declare NRE FD interest to ATO?
Yes. Australian residents must declare worldwide income. NRE interest is exempt from Indian tax but is assessable income in Australia. Declare it on your Australian tax return.
Which rate should an NRI in Australia watch?
For money sent to India, track AUD to INR and compare across Wise, OFX, Remitly and Australian banks.