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Case study: Tax residency and main residence exemption. Bert Lancaster is an enterprising young mining engineer who has just been offered a new job in New Zealand. He recently bought his first home in Brisbane in January.…
We can help you take on an overseas employment position by offering planning guidance to optimise your tax residency circumstances so you do not pay unnecessary double taxation.…
Can you claim the main residence exemption after you move overseas? The answer depends on timing, tax residency, and a few rules that catch people out. Let’s say you have lived in your home in Brisbane for years.…
Appeal lost: Foreign companies were tax residents of Australia. The Full Bench of the Federal Court declined an appeal by multiple foreign companies against an assessment based on them being Australian tax residents.…
Save tax - super benefits for non-residents. Non-residents who have permanently departed Australia can withdraw superannuation benefits on departure subject to deduction of withholding tax. Keywords: Next Article.…
Australian Tax Changes 2022-2023. Recent changes are outlined below: Keywords: Australian Tax Changes 2023. Next Article. Disclaimer: We believe this information to be correct at the time of publication.…
Tax Insight: Your private bank account data transferred overseas by the Government. What? Keywords: Next Article. Disclaimer: We believe this information to be correct at the time of publication.…
Save Tax: Salary sacrifice. You can salary sacrifice to maximise your total concessional superannuation contributions up to $30,000 (or $35,000 if aged 50 years or over) for the 2015 tax year and enjoy substantial tax savings. Keywords: Next Article.…
Save tax - foreign losses. From July 2008 the quarantining of foreign tax losses was abolished and these can be claimed against any other income. Keywords: Next Article. Disclaimer: We believe this information to be correct at the time of publication.…
Save Tax: Repairs and replacements. Repairs are generally tax deductible when they relate to property which is used for income producing activities.…