04 Dec 09 More on amendments to s 23AG (employment income earned overseas)In response to Member 41's feedback last week on the amendments to s 23AG:
MEMBER 44 writes:
"Regarding Member 41's comments on the removal of the exemption for foreign earnings for residents, plenty of international tax consultants based in London know about the above amendments and how to mitigate them. An internet search to help locate international tax expertise is better than turning high end clients away."
MEMBER 45 writes:
"Like Member 41, I need enlightenment. Do the s 23AG etc amendments mean that persons who are classified as Australian tax residents and who work for salary/wages, in an overseas country with which Australia has a tax treaty, for > 183 days , have a requirement to lodge Australian tax returns and face a tax bill where the tax paid overseas is less than the Australian tax liability?"
MEMBER 46 writes:
"Just a question about overseas income now being taxable in Australia. Not all countries have a 30 June Financial Year. What do we do if a financial year is March or December. In these instances do we pro rata say 9 or 6 months this year and 3 or 6 months next year?"