Tax: Australians with business interests in foreign companies
There are many Australian residents who have business interests in overseas companies. These are often with overseas business partners with both as directors. Also, many people migrating to Australia have these overseas business interests when they arrive. For these companies to remain foreign companies and subject to taxation in the country they reside there are a number of things to consider.
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 […][…]
International offshore business dealings? Undeclared taxable income? Make a voluntary tax disclosure now
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Many of the Australian Chinese community may be affected by the Common Reporting Standard (CRS) the new international tax reporting system. The CRS is designed to […][…]