šŸ‡®šŸ‡³NRI Guide

NRI from Australia\nManaging Finances in India

Cross-border finance guide for Indian NRIs living in Australia. Tax treaties, investment options, and managing money across AUD and INR.

Indian NRIs in AU
900K+
AUD-INR (approx.)
ā‚¹55
DTAA Status
Active
FITO Available
Yes

šŸ‡¦šŸ‡ŗAustralian NRIs ā€” Tax & Investment Overview

Australia-India DTAA: One of the most comprehensive tax treaties. Key provisions: ā€¢ Salary income: Taxed only in Australia (country of employment) ā€¢ Indian rental income: Taxed in India first, then claim Foreign Income Tax Offset (FITO) in Australia ā€¢ Capital gains on Indian shares: Taxed in India, credit available in AU ā€¢ Interest on NRE account: Tax-free in India, but assessable in Australia Important: The ATO requires Australian tax residents to declare worldwide income ā€” including Indian rent, dividends, and capital gains.

šŸ¦Managing NRE & NRO from Australia

Most major Indian banks (SBI, HDFC, ICICI, Kotak) offer NRE/NRO accounts for Australian NRIs with online banking access. Key considerations: ā€¢ Transfer AUD ā†’ INR via NRE account for tax-free interest in India ā€¢ Indian rental income goes to NRO account ā€¢ Use SWIFT transfers or remittance services (Wise, Instarem) for lower fees ā€¢ Maintain KYC compliance ā€” many banks require periodic re-KYC from overseas

šŸ“ŠInvesting in India from Australia

Mutual Funds: Most AMCs accept Australian NRIs. Invest through NRE account (repatriable) or NRO account. Some AMCs restrict online transactions ā€” you may need to submit physical forms. Stocks: Open a PIS (Portfolio Investment Scheme) account with a bank. Trades are routed through this account on BSE/NSE. Property: No RBI approval needed. Payment from NRE/NRO/FCNR account. TDS of 20% on capital gains when selling.

šŸ“±Why Australian NRIs Use Richify

Richify is already Australia's AI financial education app. NRIs from Australia get the unique benefit of managing both sides of their financial life in one platform: ā€¢ Track Indian assets (MFs, PPF, NPS, property) alongside Australian assets (super, property, ETFs) ā€¢ Ask Felix about cross-border tax questions ā€¢ Use Indian tools (SIP to 1 Crore) and Australian tools (Super Snapshot, HECS Calculator) ā€¢ Get AI coaching on asset allocation across both countries

ā“ Frequently Asked Questions

Do I need to declare Indian income in Australia?ā–¼
Yes ā€” Australian tax residents must declare worldwide income in their ATO tax return, including Indian rental income, interest, dividends, and capital gains. You can claim a Foreign Income Tax Offset (FITO) for tax already paid in India.
Can I keep my PPF running from Australia?ā–¼
If you opened PPF before becoming an NRI, you can continue it until maturity (15 years from opening). However, post-maturity extension may not be allowed for NRIs. New regulations require converting to NRI status in PPF records.
What happens to my super when I visit India?ā–¼
Your Australian superannuation stays in Australia ā€” it's governed by Australian law regardless of your residency. If you permanently return to India and cease being an Australian resident, you may be able to claim your super under certain conditions (departing Australia permanently).

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ā“ Frequently Asked Questions

Do I need to declare Indian income in Australia?

Yes ā€” Australian tax residents must declare worldwide income in their ATO tax return, including Indian rental income, interest, dividends, and capital gains. You can claim a Foreign Income Tax Offset (FITO) for tax already paid in India.

Can I keep my PPF running from Australia?

If you opened PPF before becoming an NRI, you can continue it until maturity (15 years from opening). However, post-maturity extension may not be allowed for NRIs. New regulations require converting to NRI status in PPF records.

What happens to my super when I visit India?

Your Australian superannuation stays in Australia ā€” it's governed by Australian law regardless of your residency. If you permanently return to India and cease being an Australian resident, you may be able to claim your super under certain conditions (departing Australia permanently).