The global workforce is a reality for companies of different sizes and in different locations. Studies show that businesses increasingly perceive workforce mobility as critical for achieving their objectives, but compliance with tax regulations is a key concern.
Global businesses and their senior executives regularly come to Accru Felsers with complicated tax scenarios as a result of living and working overseas, and we are adept at anticipating and solving them. However, for Australians going to work abroad, it’s important to plan for the tax consequences, especially if you have substantial superannuation, investments and property.
The starting point to determine the tax impact of working overseas is whether you remain resident of Australia for tax purposes, or whether you become a tax non-resident under Australian laws. Accru Felsers partner, Brett Cox provides a quick guide to how the Australian Tax Office determines whether you are an Australian resident or not, and how common items will be taxed if you are considered an Australian resident vs a non-resident. Read his full article Australians working abroad – how will you be taxed?
You may also be interested to find out how Steve from Accru Rawsons Brisbane helped an Australian working overseas sort out his tax and superannuation issues.