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The $47 billion in deductions claimed against rental income every year will face tougher scrutiny from the Australian Taxation Office after more than 300 audits…
TAX
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How will the new capital gains tax changes happening in June 2019 affect property owners financially?
Since the May 2017 Australian Federal Budget, Australian Expats have been living under a cloud of fear that they may become taxable on their former Australian r…
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I have bought a house in Australia that will be my home eventually. When I go back how long do I have to live in it to become tax free?
In Australia we have a special Capital Gains Tax Free status for a persons home, or Principal Place of Residence.One of the great myths is that you only have to…
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I recently received a penalty notice from the Australian Tax Office for not lodging my tax return. Is there anything I can do about this?
Many people do not realise that it is a legal requirement to lodge an Australian Income Tax Return if they receive any taxable income in Australia.For most peop…
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I have recently got a letter asking if I need to pay Land Tax on my Australian property, what is this for?
In Australia the Federal Government is entitled to receive Income Tax and Capital Gains Tax and this is managed through an annual lodgement of a tax return.Unde…
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I will be moving to Australia shortly and expect to be receiving an inheritance soon after I arrive, what Inheritance Tax will I have to pay?
I am glad to report that Australia is one of the very few western countries that does not charge any inheritance tax or death duty.As such you will not have any…
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I have been offered an “interest only” repayment on my Australian property loan. Is this a good idea?
Most Australian expatriates remember how expensive our home mortgages were when we were living in Australia, as there was no tax relief available for interest c…
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I am pleased to hear that you have opened your heart and wallet to this important cause. It never ceases to amaze me just how powerful Mother Nature is and how…
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I have recently been granted a Permanent Resident Visa for Australia and will be going down to activate it shortly. Will this mean I have to start paying tax in Australia?
Australia does have strong international tax rules that require anyone living in Australia to declare and pay tax on their worldwide income and capital gains. U…
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I have a property in Australia in just my name and I want to give half to my new wife. Is there any problem doing this?
In Australia there is no gift duty so the actual transfer of the value of a propertyfrom spouse to spouse does not attract a direct charge. This is true evenwh…
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The good news is the answer is “yes”, you can claim the cost of travelling to Australia against your tax if you collect rental on an Australian Property and mak…
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I am living out of Australia and have just started renting a property I own in Australia so understand I'll be liable for Australian tax. Will the ATO calculate tax owed on a base income of my Australian rent earnings or on my overseas earnings?
Usually when you are genuinely living out of Australia for an indefinite or extended period, then you are considered Non Resident in Australia for tax purposes,…
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Latest Podcasts
Join Steve Douglas as he discusses:
- Global financial markets, issues & influence on our daily lives;
- Australian property markets, driving factors and has it peaked?
- International markets review & forecast;
- Australian Dollar review & prediction;
- Interest rates…
Join Steve Douglas, Executive Chair and Julie Kelley, Sales & Marketing Manager as they answer your burning questions during the 'Australian Residency and Tax Changes & Implications To Expats' webinar.
You can also book a FREE 20 minute tax consult by emailing smats@smat…
Hidden away in the back of the Australian Budget and unmentioned in the Treasurers speech, was a simple statement confirming that:
“The Government will replace the individual tax residency rules with a new framework that is easy to understand, provides certainty and reduces compl…
We trust this seminar gives you a clearer understanding of the Australian Budget Announcements including:
• How Covid19 has impacted the Australian Government’s federal finances
• Measures the Government intends to undertake to reinvigorate the Australian economy
• Latest taxatio…
Australian property prices look to be on a rocketing path, with first home buyers, low-interest rates and FOMO (fear of missing out) fueling the demand for the start of 2021.
However, with stimulus packages coming to an end, and international borders remaining closed, can this ex…
For anyone considering Australia as a future place of residence planning your taxation affairs is a critical element of the migration process.
The Australian taxation system is extremely complex and taxes residents worldwide income.
Thankfully, legal and sensible tax …
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