When you depart the Australia – whether to migrate to a country such as the UK, or to live and work as an expat in a no/low tax jurisdiction for several years – important tax planning and compliance questions will usually arise.
A key issue is whether you will cease to be tax resident in Australia – and (if so) what consequences arise?
For example, what are your obligations if you let a property in Australia while living overseas?
Did you know that ceasing to be a resident of Australia can trigger a deemed disposal of a let property that is located outside Australia?
Also, that a higher rate of Australian tax is payable on income and capital gains that remains subject to tax if you are not a tax resident of Australia?
Or you may be keen to know what steps to take to ensure that the low/no tax salary you will earn as an expat will not be taxed in Australia.
bdh Tax provides the following services to individuals who are departing Australia to live elsewhere in the world:
- Tax planning advice, including advice on your tax residency status in Australia
- Preparation of Australian and (if required) UK Tax returns, including advice on tax deductions to reduce your tax liability. All tax returns are submitted to the tax authorities electronically
- Assistance to ensure income is properly taxed and not taxed twice. This includes a consideration of the provisions of applicable Tax Treaties
- Capital gains tax planning: the timing of the disposal of an asset in Australia such as a let property can be key to the mitigation of tax payable
bdh Tax provides a fixed fee quote whenever possible to all who are interested in engaging our services.
We can assist with the preparation of tax returns in Australia and in the UK.
If you are departing Australia – or are already overseas – and would like a no obligation fixed fee proposal from a firm of tax advisors that understands the issues affecting people who are ceasing to live in Australia 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.