Foreign income and tax residency advice, to avoid double taxation. Doing business overseas. Tax advice for creatives and professionals entering Australia. Skilled immigrants and temp visa holders. Departing Australia – what you need to know before you go!
Electra Frost holds a Masters degree in International Taxation and has over 15 years experience with numerous clients experiencing all kinds of foreign income and overseas residency tax scenarios.
Many of our clients are based overseas, and we meet with them over video when they need our help. If you have an overseas accountant, we can work with them to ensure that your cross-jurisdictional tax matters are handled responsibly.
Careful planning and structuring may save you paying unnecessary tax.
If you’re planning to work overseas, before you leave it’s very important to know how to report correctly to the Tax Office . Your overseas income may not be exempt from Australian tax and there are steps to take if you expect the ATO to consider you a non-resident for tax purposes.
If you are leaving Australia permanently, you will need a Tax Plan for your Australian based business activities, assets subject to Capital Gains Tax and Australian sourced income from investments. Before you leave, we can review your assets and advise you on the tax treatment and best possible strategies.
Before commencing business overseas, you need to understand some complex rules. Australian residents can be taxed on the income of their overseas business under the Controlled Foreign Corporations laws. If your Australian business transacts with related entities overseas, consideration must be given to the transfer pricing rules to ensure that profits are correctly determined for each jurisdiction.
If you are new to Australia, we have the expertise to give you sound advice on setting up a business, tax obligations, registrations and dealing with the government agencies.
Overseas tax lodgments – we cannot lodge your overseas tax documents, however we may be able to refer you to an appropriate accountant and deal with them on your behalf if you wish.