Are you working overseas in a low tax jurisdiction and paying little or no tax? If so, you might be liable to pay tax in Australia.
Your tax position all depends on your classification as an ‘Australian Resident’ for tax purposes. To substantiate this, the Income Tax Assessment Act 1936 (subsection 6(1)) and Taxation Ruling TR 98/17 are relevant. Outside of this, there is other tax legislation, rulings and case law which are continually changing the scope of an[...]
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 fraud or evasion is treated very seriously by the courts. There are close to 100 serious criminal tax offence matters currently before the courts for […][…]
Superannuation legislation does not deal with the situation of one trustee behaving improperly in relation to their Self Managed Super Fund (SMSF) obligations and the other […][…]
One of the benefits of a Self-Managed Superannuation Fund (SMSF) is the 15% tax rate. However if income is ‘non-arm’s length’, the income will be subject to […][…]