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How does that work with income banding? Like, does the foreign country take your whole income and then band it in their own way or do they compare it with the other countries bandings?
I believe they band it in their own way, as if the money was earned in the home country.
Also, that still doesn't answer how they share this tax info? Like, does the UK know about my savings in Oz? They've never mentioned it anywhere.
Depends on the countries involved.
US Citizens, I believe, have to complete a tax return in the US even if they live overseas and earn money in a foreign country. If they would have paid more in tax earning that amount in the US then they pay the difference to the IRS.
I'm sure there's some tax information sharing between the US and the UK for example.
I doubt the UK and Aus have any similar arrangement, and if they did it'd only be for the £££££ type of people, not the lowly average person that's
not in the golf club threadpaying less than £100k in tax a year.
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Greenbank
How does that work with income banding? Like, does the foreign country take your whole income and then band it in their own way or do they compare it with the other countries bandings?
Also, that still doesn't answer how they share this tax info? Like, does the UK know about my savings in Oz? They've never mentioned it anywhere.