Cross border taxation fundamentals

Individuals and businesses are living and operating in an ever-increasing global world. By now, you should understand basic residency principles and their implications for Australian taxation, namely:

Residents are taxed on their world-wide income, regardless of source; and
Non-residents are taxed on their Australian sourced income.

In this unit you will start to look at the tax rules associated with cross-border transactions, as they relate to resident and non-resident taxpayers.

Your unit starts with a short recap of the fundamental principles of residency and source. You will find as you work through international taxation issues, this will always be your starting point - is the tax entity a resident and what is the source of its income? You will look at the restriction to income tax concessions to foreign residents, for example the 50% CGT discount. You will then look at the foreign income tax offset rules, exemptions, withholding tax rules and finally income tax treaties, focussing on the income tax treaties with the United States of America and the United Kingdom.

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Unit details

Level: Advanced

Estimated learning duration: 10 hours

CPD: 10 hours

Assessment: 20 multiple choice questions within 60 minutes. 75% pass mark.
2 attempts permitted.

Assumed knowledge: It is recommended learners have a thorough understanding of the taxation of income and income tax deductions as well as an understanding about the concepts of residence and source before undertaking this unit.

Learning outcomes:

Determine the taxation treatment of individuals and companies in receipt of foreign income.
Apply the withholding tax provisions to dividends, interest and royalty payments to non-residents.
Explain the allocation of taxing rights provided by the UK and USA double taxation treaties.

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Cross border taxation fundamentals

Cross border taxation fundamentals

Unit details

Learning outcomes: