Our principal, Matthew Marcarian, was recently published in Australia’s leading tax journal, Taxation in Australia (run by the Tax Institute), with his article titled “Australian Expatriates: Casualties of Law“.
In his article Matthew looks at how over the last 20 years, Australia’s international tax settings have changed in a way which has increased the tax burden on Australian expatriates. Too often they become “casualties of law”, their interests overlooked by poorly conceived, and sometimes politicised, tax policy and design.
The article examines these changes and analyses major tax issues facing Australian expatriates at different stages of their expatriate journey. The article demonstrates how Australian expatriates can face higher taxes and significantly more complexity than fellow Australians.
The tax issues examined include the ongoing legislative uncertainty relating to individual and corporate tax residency, the removal of both the 50% CGT discount and the main residence CGT exemption for non-residents, the forex rules, the treatment of foreign structures, and overseas retirements plans.
The article also notes that an opportunity exists for the new Albanese government to address many issues to make them less burdensome and fairer for the Australian “diaspora”.