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Expatriates: Section 23AG exemption presentation

Published on 13 Aug 09 by QUEENSLAND DIVISION, THE TAX INSTITUTE

The government in their May budget announced the removal of this much utilised section of the 1936 Act which allowed for employment income of outbound expatriates to be exempt from Australian tax. This presentation explores these amendments and the impact they will have on employees and employers.

The taxation impact on employers include PAYG, pay-roll tax and superannuation obligations and increased FBT costs. Given the changes employers will also face a loss of international competitiveness, increased assignment costs and reduced ability to attract employees on overseas assignments.

Employees will face greater issues such as double tax and the associated cashflow concerns. Accordingly, this presentation also explores the alternatives available including the use of foreign income tax offsets and the use of double tax agreements.

Author profile:

Justin Long
Justin is a Senior Manager in PricewaterhouseCooper’s International Assignment Solutions (IAS) practice in Brisbane. Justin has been with PwC for over 7 years specialising in managing expatriate programs for multinational corporations, as well as advising on related topics such as international tax, expatriate policy, employment taxes, US personal tax and individual tax planning. Justin's experience with PwC includes a 3 year assignment with PwC in San Francisco, US specializing in US personal tax compliance and expatriate program coordination for US based multinational corporations.Justin is a Senior Manager in PricewaterhouseCooper’s International Assignment Solutions (IAS) practice in Brisbane. Justin has been with PwC for over 7 years specialising in managing expatriate programs for multinational corporations, as well as advising on related topics such as international tax, expatriate policy, employment taxes, US personal tax and individual tax planning. Justin's experience with PwC includes a 3 year assignment with PwC in San Francisco, US specializing in US personal tax compliance and expatriate program coordination for US based multinational corporations. Current at 02 July 2009 Click here to expand/collapse more articles by Justin LONG.
 

This was presented at Expatriates: Critical Tax & Super Issues.

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