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Commonwealth Super residency test – not as easy as first meets the eye
There are many tests which determine whether an Australian living overseas is foreign resident for Australian tax purposes.
One of the main tests is called the Commonwealth Superannuation test. Under this rule, to be considered as a foreign resident, you must not be a contributing member of CSS or PSS (not PSSap).
If this test is satisfied then the Australian taxpayer is regarded as a resident of
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Tax Planning
CGT event K3- Estate planning traps
In Australia, we don’t have death duties or inheritance taxes, so when assets pass to beneficiaries through a person’s estate, capital gains are generally disregarded. However, […][…]
Tax Advice
Subdividing your main residence – Tricks & Traps
Generally, in Australia, you are not taxed on gains from the sale of your home (including up to 2 hectares of adjoining land). This is because […][…]
Superannuation
Bringing your super to Australia from overseas
When people relocate to Australia, superannuation is sometimes forgotten. Depending on when you bring back your super to Australia, and how much, it can have different […][…]
International Tax
Thin Capitalisation explained
An entity is considered ‘thinly capitalised’ where the assets are funded by a high level of debt and little equity. But why is this significant? The […][…]
Tax Dispute
Recent TPB wins: A reminder that supervision of staff is key
The Tax Practitioners Board (TPB) has dramatically increased its investigation of tax agents who are not complying with their tax agent obligations. This is the result […][…]
Tax Residency
Tax Issues: Hong Kong residents moving to Australia
In the growing unrest in Hong Kong, you may be considering moving to Australia – you should be aware of the following tax issues: When moving […][…]
