Are you required to pay Inheritance Tax as an Australian Resident?
5th Apr 2022
Daniel Wilkie
Australia does not have an inheritance tax When a person dies, the estate, or person who inherits the assets does not have to consider any special inheritance tax on the money or assets that are...
Potential Changes To Australia’s Personal Tax Residency Laws
16th Mar 2022
Matthew Marcarian
On 11 May 2021, the Australian Government announced that it is considering replacing Australia’s existing residency rules with a new ‘modernised framework’ This update is intended to be...
The Five Key Requirements for Setting Up a Company in Singapore
16th Dec 2021
Boon Tan
A Singapore Company is governed by the Singapore Companies Act which is administered by the Accounting & Corporate Regulatory Authority (ACRA) There are 5 essentials that need to be covered...
Understanding the Differences Between Australian Citizenship, Visa Residency and Tax Residency
18th May 2021
Daniel Wilkie
It can understandably be confusing to determine the difference between being an Australian tax resident for tax purposes compared to visa residency If you’re an Australian citizen who was born...
Australians moving to the USA: Key Differences in the Australian and US tax system
2nd Apr 2021
Matthew Marcarian
Like any overseas move,...
Changes to Foreign Surcharge: Discretionary Trusts with property in NSW or VIC
22nd Mar 2021
Daniel Wilkie
Discretionary trusts provide flexibility in relation to revenue and capital distributions This is one of the reasons they are a common choice for families However, when there is a potential foreign...
US Taxpayers given some Reporting Relief on certain Foreign Trust Investments
10th Mar 2020
Jurate Gulbinas
Section 6048 requires US taxpayers to make an annual report regarding financial or asset transfers in relation to the receipt of distributions from foreign trusts Taxpayers can be penalised if they...
Making a check-the-box election as a foreign corporation
4th Mar 2020
Jurate Gulbinas
This article relates to foreign business founders with an active business, who are moving to the US There is a risk that foreign earnings may be double taxed when your organisation is taxed as a US...
Non-Residents Can No Longer Claim the CGT Main Residence Exemption
28th Jan 2020
Matthew Marcarian
On December 5th 2019 the contentious law denying non-residents the Capital Gains Tax (CGT) main residence exemption was passed This means that the update...