DEWS and Australian Tax: What Happens When You Return Home? If you have worked in Dubai, particularly in the DIFC, you may have built up a balance in the Dubai Employee Workplace Savings (DEWS) scheme. Australians returning home from the UAE commonly ask whether Australia will tax their DEWS balance. The answer depends on your […]
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Returning to Australia Due to Middle East Unrest – What It Means for Your Tax Residency With the current instability in parts of the Middle East, we are seeing an increasing number of Australian expatriates temporarily returning to Australia for safety and family reasons. A common question we are being asked is: “Will returning to
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The Commonwealth Superannuation Test for Tax Residency: Is It Still Relevant? In discussions around Australian tax residency, most people have heard of the resides, 183-day test and the domicile test, but few realise there’s a another — rarely triggered but still legislated — tax residency rule: the Commonwealth superannuation test. It’s one of those quirks
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Deceased Estates with Overseas Connections: Key Tax Issues for Executors and Beneficiaries Deceased estates are complex at the best of times. When executors or beneficiaries are overseas, the Australian tax rules can add unexpected complications. If you’re administering or inheriting from an estate that has foreign links, here are the key issues to be aware
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Do You Need an ABN if You’re a Sole Trader Overseas? One of the most common questions we hear from Australian expats running their own consultancy or business abroad is: Do I still need an ABN (Australian Business Number) if I’m no longer in Australia? Your need for an ABN depends on how you structure
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Big Money, “Tax-Free” Contracts and The Tax Trap: What the R360 Offers Really Mean for Australian Athletes The newly announced R360 global rugby competition is generating headlines for its large-scale, apparently “tax-free” contracts. For Australian players this promises the allure of contracts reportedly structured via jurisdictions with little or no income tax, such as Dubai.
Why You Might Not Get a Cost Base Uplift When You Rent Out Your Former Home Many Australian property owners assume that when they move out of their main residence and begin renting it, they can simply get a valuation at that time, and use that value as their new cost base for capital gains
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Deemed Disposal on Ceasing Residency: Should You Trigger a Capital Gain Now or Defer It? When you leave Australia and become a non-resident for tax purposes, one of the most consequential — and misunderstood — tax decisions you’ll face is whether to trigger a deemed disposal of your CGT assets under section 104-160 of the
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Does the 6-Year Absence Rule Apply if You’re a Non-Resident? Sorting Fact from Fiction For Australians living abroad, one of the most misunderstood elements of capital gains tax is the main residence exemption — specifically, the 6-year absence rule. Many expats assume they can simply move overseas, rent out their former home, and sell it
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Clearing Up the Confusion Why Non-Resident Sellers Shouldn’t Be Applying for Clearance Certificates When it comes to selling Australian real estate, one of the most misunderstood issues for non-resident individuals is whether they need a clearance certificate to avoid foreign resident capital gains withholding (FRCGW). Well-meaning conveyancers and real estate professionals unfamiliar with the
