Australian's End of Financial Year: What You Must Not Forget as an Expat in America

If you’re an Australian living in the United States, the end of the Australian financial year (EOFYS ads ringing in your ears?) might not be top of mind—but it should be. While your U.S. tax obligations are important, you may still have ties to Australia that require attention as soon as possible. From investment properties to HECS debt, this time of year can have real consequences for your tax obligations and future financial plans.

Even if you don’t think you “earn income” in Australia anymore, you might be surprised to learn how many expats still need to submit something to the ATO—or risk fines and unexpected issues down the track.

Common Traps for Expats

Here are just a few of the common traps we see expats fall into:

Forgetting to declare Australian-sourced rental income
Not updating residency status with the ATO
Assuming you don’t need to lodge a return just because you’re abroad
Missing the 10% withholding on property sales
Not realizing your HECS debt is still accruing

The result? Late fees, interest, and unwanted mail from the ATO.

Want a Simple Checklist?

To help you get organized, we’ve teamed up with Odin Mortgage & Tax to put together an Australian Expat EOFY Checklist—a simple, no-jargon summary of what to check, what to file, and what not to forget before June 30.