Our CST Managing Director, Boon Tan joins MoneyFM 89.3 Breakfast Show in Singapore with host Audrey Siek to discuss “How to Successfully Scale your Business Overseas”. Delve into the key strategies and tax obligations in the foreign market for Singaporean businesses looking to expand to Australia, the US, and regional Asian markets. Boon also discusses the risk of premature scaling and employment-related aspects that businesses should consider when expanding into the global market.  Listen to the podcast on Spotify. The podcast transcript is available here. The post Podcast: How To Succes ..read more

Retirement savings, especially when managing finances across international borders, can be complex. If you live in Australia, but hold plans in the USA, you need to understand the tax implications of having 401(k) and IRA plans.  USA Tax Implications Of A 401(k) Or IRA Plan 401(k) and IRA plans are tax-advantaged retirement accounts that are available to US taxpayers. Contributions made to these accounts are typically tax-deductible, and earnings within the account grow tax-deferred until withdrawal. However, withdrawals from these accounts are usually subject to taxation in the USA. You ..read more

The current remittance basis tax regime will be replaced by a residence based regime from 6 April 2025. Foreign Income And Gains Existing non domiciled individuals who have been resident in the UK for less than 4 years will be able to take advantage of the new scheme which provides for tax free foreign income and gains for up to the first four years of residence. Longer term UK residents (greater than four years) will have to pay tax on all foreign income and gains from 6 April 2025.  However, transitional arrangements will mean that: For the 2025/26 tax year they will only pay UK tax on ..read more

Boon Tan, Managing Director of CST in Singapore, recently joined Hemandra Tanapalan, Chief Executive Officer at Mstige Holdings, to discuss the intricate world of Web3. Together they unpack the tax implications of trading NFTs, investment strategies, and the vibrant community dynamics within the space. In this podcast, Boon delves into topics such as DAOs, GameFI, and opportunities for additional income in Web3. Learn how to manage crypto and NFT profit taxes while navigating the evolving landscape of decentralized finance. Listen to the podcast on Spotify. The post Podcast: Navigating NFTs, D ..read more

Our Managing Director in Singapore, Boon Tan, will be participating in Singapore Global Network’s “Relocation to Singapore” webinar. The webinar is designed for foreigners relocating to Singapore, including job seekers, trailing spouses, and students. Boon will be joined by Ms Marina Lopes, who has been residing in Singapore with her family since 2021. Boon and Marina will guide you through the process to ensure you embark on your Singaporean adventure with confidence.   Hear from the personal experiences of those who have made the move, on various topics such as housing, transportat ..read more

Leaving Australia means leaving your home. Unless you’re intending to return to Australia in the foreseeable future, this means deciding whether you want to keep or sell that property.  When you move overseas on a permanent basis you cease to be an Australian resident and become a resident of your new home country. This means you need to consider the tax consequences on your Australian property from both an Australian perspective and in the tax jurisdiction of your new residence.  Convert Your Former Home Into An Investment Property When you hold onto the residence as an investment p ..read more

Exceptionally talented individuals with the capacity to raise Australia’s standing in their field may be eligible for a Global Talent Visa. This Visa is a permanent residency Visa that offers a migration pathway to individuals who can bring exceptional skills into Australia. Because the Global Talent Visa is not a temporary visa, the temporary resident tax concessions are not available and you will be taxed just like any other Australian citizen moving home to Australia. As international tax specialists in Australia we are often asked by individuals moving to Australia on a Global Talent Visas ..read more

The US has similar payroll tax requirements to Australia. From withholding taxes on wages, to payment of payroll taxes assessed on wages paid, and lodgement of employee forms, there is a range of compliance requirements that your company must fulfill. There are a wide variety of payroll tax considerations, including tax withholding and taxes payable on the amount of wages. These taxes are levied to fund social security, Medicare, unemployment and disability benefits, and other State and Local requirements. Withholding Taxes Employers are responsibility for withholding taxes from wages and pay ..read more

The US has a complex tax system, with multiple taxes, including income taxes, often being imposed on a State level as well as a Federal level. Some types of taxes also apply locally, meaning that even within the same State you can pay very different taxes to other parts of the State. The US Corporate tax system operates on a Federal, State and Local system. This means taxes and other compliance costs may be charged from all three levels. Filing requirements, lodgement deadlines, and available deductions or credits often differ between locations. Due to the complexity of Local variances, compl ..read more

Expanding to the US means you are entering a complex tax system. From international tax concerns, to different Local, State, and Federal requirements, there are many factors to consider. The type of legal structure you choose will impact your compliance and tax considerations obligations. Type Of Entities C Corporation (C Corp) Separate Legal Entity that works like an Australian private company does. Offers some asset protection due to legal structure. Taxed at the corporate level and when profits are distributed as dividends, these are taxed in the hands of shareholders. Has Directors, share ..read more