What is Taxable Australian Property for Aussie Expats

As the expression goes, there are only two certainties in life, death, and taxes, and this applies whether you’re an Australian resident or an Australian expat living and working overseas. From the many conversations that our team at Ally Wealth Management have had with Australian expats over the years, we know that there’s a lot

Main Residence Exemption Denied for Aussie Expats

The Main Residence Exemption (MRE) has officially been scrapped for Australian expats and other non-residents that own property in Australia. On the 5th December 2019, the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 was passed without amendment. This was originally proposed in the 2017/18 Federal Budget, which effectively meant that if

By |2021-09-15T08:39:31+08:00September 15th, 2021|Australian Expats, Property Investment, Tax|0 Comments

Deemed Disposal of Shares for Australian Expats

If you’re currently living and working in Australia and are considering a placement offshore, or if you’re currently an Australian expat, then it’s important to consider what happens to your shares and other assets when you depart and repatriate to Australia. This is what is referred to as the Deemed Acquisition and Deemed Disposal rules.

End of Financial Checklist for Australian Residents and Expats

As we rapidly approach the end of another financial year in Australia, it’s a great time to be looking at whether you should consider your options to reduce your tax liability at home. While we believe that everyone should pay the tax that they are liable for, we don’t expect anybody to have to pay

Canberra Looks to Cut Tall Poppies – Proposed Tax Changes

I, like many other Australian expats still call Australia home, but should this mean that I have to pay tax there regardless of where I may live and work? If the proposed changes in Australia’s most recent Federal Budget are passed, then this may very well be the case. While the 2021 Budget was always

By |2021-05-18T17:07:47+08:00May 18th, 2021|Australian Expats, Tax|0 Comments

Australian Budget 2021 – The Good, the BAD, and the UGLY

Australian Budget 2021 – The Good, The Bad, and the Ugly As was already highlighted, this year’s Australian Federal Budget was always set to be a ‘cash splash’ to secure Australia’s economic recovery as we plan ahead to a post-Covid period. From the simplification of tax residency tests (great news for Australian expats), to tax

Withholding Tax for Australian Expats

Withholding Tax for Australian Expats A common misconception amongst many Australian expats is that if they invest in the Australian stock market whilst a non-resident of Australia for tax purposes, that they will be liable for Capital Gains Tax (CGT) or income tax on their dividends while abroad. In most instances, this is not the

By |2021-05-06T07:26:14+08:00May 6th, 2021|Australian Expats, Tax|0 Comments

Australian Expats – Know Your Tax Residency

One of the most important questions that Australian expats should be asking is – ‘am I an Australian resident for tax purposes or not..?’ If you’re not sure of the answer to this question, or even if you just have some slight concerns, it’s time to seek advice, particularly given the recent announcement from the

New South Wales Stamp Duty Changes

Residential property is often a key element of investment portfolios for most Australians, and as the largest asset class in Australia, it’s easy to see why. Our love for brick and mortar exposure has remained strong for many years, and we don’t expect that this will change any time soon. This is also reflected in

Victoria Stamp Duty Changes for Investors & Homebuyers

The 2020 Victorian State Budget has been a positive one for homebuyers, providing many with an opportunity to get into the market earlier with changes to stamp duty. While Victoria has decided that they wouldn’t follow down the same path of New South Wales in transitioning away from stamp duty, they have announced that there

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