If you’re an Australian resident who is planning to move abroad, it’s important to understand your tax obligations both in Australia and in your new country of residence. Here are some key points to keep in mind:
If you’re an Australian resident for tax purposes, you’ll pay tax on your worldwide income, including overseas earnings.- Non-residents usually only pay tax on income earned in Australia.
- Determining residency status is complex and depends on factors like how long you’ve been overseas and your ties to Australia.
- Seeking residency advice can be a smart move to ensure you understand your tax obligations and take advantage of any tax planning strategies available to you.
Residency advice typically covers the following areas:
1. Taxation laws in Australia
2. Residency status determination
3. Tax planning strategies
4. Compliance requirements
The benefits of seeking residency advice include:
1. Reduced tax liabilities
2. Compliance with tax laws
3. Peace of mind
Gain peace of mind and stay compliant with your tax obligations in Australia and abroad by seeking expert residency advice today.
Get in touch with us, we can help.
