Actual deal is 240 000 AUD per annum at .93usd or $390000 equivalent AUD if grossed up,for tax- its tax free for ozzis as tax paid @20 % in china for you and sino ozzi tax treaty covers this...) ...
Are you sure about this?
Tax treaties mean you only pay the difference between Aussie and overseas tax, if the overseas tax is lower.
As the top Aussie marginal rate is 45%, I don't see how you get away with paying 20% in China, and none at home.