Ex Patriot & Cross National Tax Residents
What types of clients do you assist in this area?
Our Ascendia Mooloolaba, Mitchelton and Noosa accountants provide tax & accounting services specifically tailored for Australian Tax Residents or Superannuation Residents with interests, assets or income derived from overseas countries, including with interests in:
- United Kingdom
- New Zealand
- United States
- Hong Kong
- A number of other countries
Some of these interests are throught companies or trusts, super funds or individually.
We also have provided services to clients who may not have been Australian Tax Residents for a period of time but may be re-entering the Tax Residence Status.
What areas of support do you find are most required?
- Ex-pat tax management (Australian residents coming and going between Australia and overseas) - including preparation of all AustralianTax Returns for all entities related to take up foreign tgax credits as may be available.
- Advising on changes to tax accounting services rules for Australians working overseas
- Advising New Zealand Investors who reside in Australia
- Advising UK and SA investors who reside in Australia
Ex-pat and cross-national tax situation...
Many people who have been in the past taxed as non-residents - and have returned to Australia in the last few years but still do work overseas - may be impacted by the changes in this area in 2009.
Don't take tax advice from your employer - it's your problem if they are wrong not theirs. There are many things you can do to mitigate your tax liability even if you are taxed as an Australian resident.
It may be that you don't need to do anything - peace of mind at no cost! It may be that a few simple changes can save you a lot of unnecessary tax expense.
Many investors in Australia think they don't have to lodge a tax return because they are not Australian residents - not true! For example, if you are a New Zealand or UK resident but you own assets in Australia, you must lodge a tax return and be assessed for tax in Australia.