Published on 29 May 2013
| Took place at WHK/Crowe Howarth, Melbourne
The significance of a change in tax residency can catch foreign nationals unaware with an on-going impact on their overall financial wealth. With recent Visa changes, including the introduction of the Significant Investor Visa, tax advisers are commonly asked:
- What does it mean to be a temporary or permanent resident for tax purposes in Australia?
- What will my tax residency status be and what are individuals taxed on in Australia?
- How is employment income taxed compared to investment income?
This presentation covered:
- an overview on when a foreign national establishes tax residency in Australia
- Concept of temporary vs. permanent residents
- Individual income tax implications for employment income of temporary and permanent residents andthe interaction with Double Taxation Agreements
- individual income tax implications for investment income derived by temporary and
- capital gains tax considerations
- impact of LAFHA changes
- an overview of social security and pension matters for temporary residents.