Financial Considerations for Expats Before June 30 – June 30 is fast approaching and for Aussie expats there are several financial considerations you need to keep in mind to ensure all your ducks are lined up. With tax returns due soon after, it’s important to ensure that you’ve taken advantage of all the opportunities available […]
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What is Foreign Resident Capital Gains Withholding Tax? If you sell real estate located in Australia and are a foreign resident for Australian tax purposes (non-resident), the purchaser will generally withhold 15% of the purchase price and send it to the Australian Taxation Office (ATO). This is ‘Foreign Resident Capital Gains Withholding’ (FRCGW). Understanding the
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ATO releases draft ruling TR 2022/D2 on tax residency principles – The Australian Taxation Office (ATO) have released much anticipated guidance on the current residency rules with Draft Taxation Ruling TR 2002/D2 (Draft Ruling) The Draft Ruling replaces longstanding ATO guidance in IT 2650 and TR 98/17, essentially combining the content along with some recent
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Should I Hold Shares In A Trust As A Non-Resident? – where and how a Australian expat who is a non-resident for tax purposes should hold their shares is a commonly asked question in the expat community. In this article we run through some of the considersations that take into account the recent ATO Tax
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What Should An Expat Do When Leaving The UK With A ISA Account? – Leaving the UK and unsure what to do with your ISA account? Here’s some important considerations to help. Australian Expats who have lived in the UK as residents for long enough would have likely opened an Individual Savings Account (ISA) at
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Queensland Government Scraps New Land Tax Changes – Back in July, we wrote about the new land tax changes in Queensland taking effect from 1 July 2023 that were set to significantly increase the land tax bills of Qld property owners with interstate land. Since the changes were announced in July, the Queensland government has received
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Importance of Double Tax Agreements for Australian Expats – With the prospect of new tax residency laws being introduced in Australia, we have put together a refresher article on what Double Tax Agreements (DTA) are, how they interact with Australia’s tax residency laws, and why they are important for Australian Expats. Note: The proposed new Australian
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Tax Treatment of Dividends as a Non-resident Australian Expat – The Australian reporting season for Financial Year 2022 has seen several ASX 200 companies post stellar results, with some paying out record dividends to Australian shareholders. In this article we look to spotlight dividend yield and discuss how dividends are treated for tax purposes as a
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Selling Australian Real Estate As An Expat? You might want to reconsider your timing – In this post we look to provide an overview of the Australian Capital Gains Tax (CGT) landscape when it comes to disposing of Australian real estate (residential property) as a Non-resident for tax purposes. It aims to act as a refresher for
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Can A Downsizer Contribution Strategy Assist Australian Expats? – Returning to Australia and looking to play catch up on your super balance? Here’s what you need to know about the Downsizer Contribution strategy. What is a Downsizer Contribution & How Can Australian Expats Benefit? The downsizer contribution allows individuals who meet certain eligibility
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