Tax with Max: Determining residency for tax purposes

Considering an extended stay overseas, changes to the Centrelink income test, taking a lump sum super payment and more.

Summary: Someone who has been living in Australia for decades, owns a family home here, is not a citizen, and is currently living overseas, may wonder if they remain an Australian resident for tax purposes. Their residency is relevant when considering the principal residence capital gains tax exemption.

Key take-out: Someone who lives overseas is considered an Australian resident for tax purposes if they intend to return to Australia and not live permanently overseas. This is not necessarily affected by whether they are an Australian citizen.

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