If you are going to live overseas as an Australian expat it is probable you can’t simply forget about tax in Australia.
You will have an Australian tax return to complete in the year you cease to live in Australia, and if you have a recurring source of income in Australia – for example income from a let property – you will need to submit an Australian tax return each year.
The tax return which you send to the Australian Taxation Office will include a comment as to your residency status in Australia, and it should be remembered that those who are not resident in Australia and who have income with an Australian source – such as income from a let property in Australia – will pay tax on that income at a higher rate than is payable by a resident: 32.5% on the first $ of taxable income.
bdh Tax offers the following services to individuals who are going to live and work in an expat location:
- Tax planning advice, including advice on your tax residency status in Australia. This can be key to the question of whether your low/no tax salary is subject to income tax in Australia.
- Preparation of Australian tax returns (including advice on tax deductions to reduce your tax liability); all Australian tax returns are submitted to the ATO electronically
- Assistance to ensure income is properly taxed and not taxed twice. This includes a consideration of any applicable Tax Treaties, and (where required) liaising with your local tax accountant
bdh Tax provides a fixed fee quote whenever possible to all who are interested in engaging our services.
If you are an expat with Australian income and would like a no obligation fee proposal from a firm of tax advisors that understands the issues affecting you please contact us by completing the enquiry form on this webpage, or telephone the bdh Tax office that is closest to you.
We look forward to hearing from you.