Australian Tax Residency for Yachties: What You Need to Know If you work on a yacht or cruise ship, understanding Australian tax residency for yachties is crucial for how your income is taxed. Australian tax residents face taxation on worldwide income, while non-residents are generally taxed only on Australian-sourced income. Key Factors in Tax […]
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Do I Still Need to Complete a Tax Return as an Expat? As an Australian expat, one of the most common questions is whether you still need to complete an Australian tax return. If you are not an Australian tax resident, your tax obligations in Australia generally apply only to your Australian-sourced income. However, there
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ATO Focus Areas for Your 2024 Tax Return: What You Need to Know As the 2024 tax season approaches, the Australian Taxation Office (ATO) has released its focus areas. It has highlighted key items that may attract additional scrutiny. If you’re filing your tax return, especially as an expat or property owner, it’s essential to
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Understanding the Australian Tax Residency Test Determining your tax residency status in Australia is crucial, as it directly impacts how you are taxed on your income and investments. Whether you’re an Australian living abroad or a foreigner working in Australia, understanding the Australian Tax Residency Test is essential to avoid unexpected tax liabilities. The
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How Much Should a Australian Expat Contribute to their Super? – The ability of Australian expats contributing super whilst living overseas is something we’re often asked about. For a detailed overview of the background on super contributions and tax implications of super as a non-resident, refer to this article https://atlaswealth.com/news/can-an-expat-contribute-to-their-australian-superannuation/ The most common question we get
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Can An Expat Contribute to Their Australian Superannuation? – The ability of Australian expats contributing super whilst living overseas is something we’re often asked about. There continues to be a great deal of misinformation and uncertainty on the subject and so we have prepared a short guide to dispel some of the myths and to
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How An Australian Expat Appoints a Tax Agent for a Return Extension – Australian expats living abroad often find themselves caught up in the complexities of filing their Australian tax returns. Individuals who do not have a tax agent will have a tax return lodgement due date of 31st October, which is a mere 4
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Understanding Taxation When Moving Back to Australia – For numerous Australian expats, coming back home, be it for a short stint or permanently, is a major decision. Your financial strategies should be versatile enough to adapt to lifestyle shifts, including becoming a tax resident in Australia. Tax Planning: Boosting Your Finances Switching countries necessitates
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Why Australian Expats Should Think Twice Before Renovating Their Property Back Home – For many Australian expats living abroad, the idea of renovating their property back home can seem like a solid investment. Whether the property is an asset they left behind, a recent purchase, or even an inheritance, it’s tempting to improve its value and
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Negative Gearing for Australian Expats Living Overseas: A Comprehensive Overview – Australia’s unique taxation structure provides numerous advantages to property investors, particularly through negative gearing. Negative gearing occurs when the cost of owning a property (interest on the loan, maintenance, property management fees, and other related expenses) exceeds the rental income it generates. This “loss” can
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