Tax Residents

Section 23AG – Exempt foreign service income

Under section 23AG of the Income Tax Assessment Act 1936 (ITAA),  Foreign employment income is exempt from tax if all of the following applies: you are […][...]

Tax Advice

CGT main residence exemption

If you sell your home, you are entitled to a Capital Gains Tax (CGT ) exemption known as the main residence exemption. There are some restrictions […][...]

Tax Residents

International tax: CFC tax rules explained

If you have interests in offshore companies you should be aware of the taxation rules relating to Controlled Foreign Companies (CFC) or Controlled Foreign Trusts Rules […][...]

Tax Residents

Aussie crew member of overseas yacht? Australian resident for tax purposes?

A question that frequently arises is whether an Australian who is living and working on a yacht based in overseas waters is a non-resident and thus […][...]

Tax Residents

Are you an Australian working overseas? Your residency status will affect your liability to tax on foreign earned income

A recent case in the AAT concerned an individual working in Oman, who successfully claimed to be a non-resident of Australia, despite being domiciled in Australia […][...]

Tax Crime

Tax Crime: Failure to Lodge Tax Returns

Did you know that the Australian Taxation Office (ATO) can prosecute you for failure to lodge a tax return and, even worse, if you are convicted, […][...]