Checklist
Returning to Korea money checklist
Moving back is not just logistics. It is a sequence of tax, retirement, asset, and cash-flow decisions.
Before deciding
- Write down the expected date you may become a Korean tax resident.
- Check when Australian tax non-residency may start.
- Put Australian property, Korean property, investments, super, and Korean pensions in one table.
- Separate family support from gifts in your records.
Super and pensions
- Treat Australian super as preserved retirement money, not moving cash.
- Check Korean National Pension contribution history and expected claiming age.
- Keep the Basic Pension separate from the National Pension: it is means-tested.
- Model KRW income against AUD/KRW exchange-rate risk.
Assets and remittance
- Check CGT and tax residency before selling Australian assets.
- View Korean property proceeds as after-tax, after-remittance, and after-FX money.
- Keep contracts, tax returns, bank records, and settlement statements.
- Plan large transfers around timing, evidence, limits, and FX rather than sending everything at once.
Just before moving
- Update Australian address, bank, tax agent, and super contact details.
- Check Korean health insurance, status, and bank account access.
- Mark your final Australian tax return and first Korean filing year.
- Set aside three months of KRW cash flow after arrival.