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23AG – R.I.P. What happens next? Taxing Australians working overseas is about to get complicated!

Published on 10 Sep 2009 | Took place at Perth Convert Hall, WA

The budget changes to s23AG of the Income Tax Assessment Act 1936 have been passed into law and have from 1 July 2009 severely restricted the income tax exemption previously enjoyed by Australians working overseas.

These changes have significant implications for both employees and employers and this event explored the impact on employees and employers and their options going forward.

In an already challenging economic environment, employers will now face increased tax costs and administration when undertaking overseas projects which utilise Australian resident employees. This event discussed the practical ways some companies are meeting these extra challenges to competing in a global market place and also identified potential risk areas for employers as a result of the budget changes.

Individual sessions

23AG – R.I.P. What happens next?

Author(s):  Chris ANSLEY

This presentation covers:

  • overview of the budget changes, what does the new 23AG look like?
  • transitional rules
  • issues for employers
  • issues for employees
  • what will we see going forward?
    • focus on residency
    • increased use of double tax agreements
    • foreign income tax offsets
    • Fringe Benefits Tax issues
  • other issues.
Materials from this session: