Income Tax on Foreign Exchange Gains (FX)

The planning for Forex fluctuations can also be relevant. Generally under Australian income tax laws, realised FX gains/losses are assessable or deductible for income tax purposes.

Be aware of leaving funds overseas waiting for a better rate of exchange, as the movement in the rates from the date of residency to your actual transfer would be caught by Forex and assessable/deductible to income tax in Australia.