Update: Thailand Clarifies Tax on Foreign Income
Expat Taxes Australia Blog
by Shane Macfarlane CA
4M ago
Background to Thailand’s Plan to Levy Tax on Foreign Income Recently we published “Tax Alert: Thailand to tax foreign income”, an article about significant new changes introduced by the Thai Revenue Department through Revenue Order 161/2023, that seek to tax Thai tax residents on any foreign-sourced income that they bring into Thailand at any time after 1st January 2024. In short, Revenue Order 161/2023 reversed Thailand’s long-held policy of not taxing foreign income (where that income was not brought into Thailand during the year of receipt). The new revenue order declared that foreign incom ..read more
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Remote Workers – Australia’s Opportunistic Tax Grab
Expat Taxes Australia Blog
by Shane Macfarlane CA
4M ago
Remote workers – if you are an Australian expat who works remotely for an Australian employer, you’ll want to read more (you should not ignore this article)! In recent months, an alarming issue for remote workers (discovered by our team here at Expat Taxes), has come to light concerning the approach taken by the Australian Taxation Office (ATO) towards expatriates who work remotely for Australian businesses and employers. It has come to our attention that without consultation with stakeholders, tax professionals or the public at large, and although no new legislation has been passed, nor any n ..read more
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Are share trading profits of non-residents taxable in Australia?
Expat Taxes Australia Blog
by Shane Macfarlane CA
11M ago
According to Sydney-based research firm Investment Trends’ 2022 1st Half Online Investing Report, online share traders have increased from 700,000 in 2019 to approximately 1.47m today. Australian Bureau of Statistics migration statistics for 2022 revealed that 224,000 Australians left Australia permanently to migrate overseas in 2022. Thus, it follows on that a large number of those Australians are also online share traders who many of whom are likely to continue trading ASX listed investments from their new homes overseas! With those facts in mind, and with more and more Australian’s packing ..read more
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Everything you need to know about offshore bank fees
Expat Taxes Australia Blog
by Bill Crang
1y ago
Bank fees can be confusing no matter whether you’re paying them at home or abroad. In Australia, bank fees consistently increase, making it important for locals to pay vigilant attention to rising rates. The situation does turn more complex when you travel overseas, with high bank fees becoming even more difficult to navigate and avoid. If you’re wondering what offshore bank fees go towards and how you can avoid paying high fees while you’re abroad, read on – we’ve put together this helpful blog with all you need to know about this important feature of Australian expat life. The purpose of off ..read more
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Three great places to live in Europe as an expat
Expat Taxes Australia Blog
by Bill Crang
1y ago
If you’re planning on becoming an expat and making the move to another country, it can be difficult knowing which one is the right destination for you. Europe is a vibrant continent which has plenty of culture and financial opportunities, but with so many locations to choose from, you might be struggling to make a decision. Here at Expat Taxes, we want you to be confident in whatever you choose, so here are three great places to live in Europe as an expat, one of which you might just fall in love with. Germany Home to the most expats in Europe, Germany is a country filled with culture and life ..read more
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Could Remote Working During the Pandemic Affect Your Tax Burden?
Expat Taxes Australia Blog
by Bill Crang
1y ago
During the recent Covid-19 pandemic, in line with Organization for Economic Cooperation and Development (OECD) guidance, the Australian Taxation Office (ATO) issued some additional guidelines for Australian expats who returned to Australia to visit, but who couldn’t leave due to covid restrictions either here or in the country they wished to return to. Usually, Australians living in Australia who work remotely for foreign companies, or who are classed as employees of a foreign employer, are still be required to pay tax to Australia rather than to the foreign county. This is generally due to th ..read more
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Urgent Deadline for Directors ID Registration in Australia – November 30th 2022
Expat Taxes Australia Blog
by Bill Crang
1y ago
Living and working overseas as an Australian expat, or as a non-resident of Australia means that it’s easy to overlook your Australian tax and compliance obligations, because these things are often “out of sight, out of mind”! If you are a director of a company or business in Australia then you cannot afford to ignore this article. Australia has recently introduced legislation that requires company directors to register for a “Directors ID” number, with harsh penalties in the tens of thousands of dollars, for those who fail to register by 30th November 2022. Yes, you read that correctly – ther ..read more
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The power of property investment
Expat Taxes Australia Blog
by Bill Crang
1y ago
Finding the right commodity, stock or corporation to invest in is a big decision, but it doesn’t have to be a hard one. We all know that investing in property is a fantastic way to build your investment portfolio and work towards financial independence. While property investing has been a strong form of investment for many generations now, many people may not realise just how beneficial or powerful property really is. If you’re thinking about investing in real estate and are considering all of the benefits of building a property portfolio, we can help. Property investing has the ability to pro ..read more
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The power of investment property
Expat Taxes Australia Blog
by Bill Crang
1y ago
Finding the right commodity, stock or corporation to invest in is a big decision, but it doesn’t have to be a hard one. We all know that investing in property is a fantastic way to build your investment portfolio and work towards financial independence. While property investing has been a strong form of investment for many generations now, many people may not realise just how beneficial or powerful property really is. If you’re thinking about investing in real estate and are considering all of the benefits of building a property portfolio, we can help. Property investing has the ability to pro ..read more
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The 5 best cities in Asia for foodies
Expat Taxes Australia Blog
by Bill Crang
1y ago
One of the best parts about moving overseas is being able to sample all the wonderful foods of a different culture and country. If trying new delicacies is something you enjoy, read on for a list of five cities in Asia renowned for their dishes. 1. Nagoya, Japan For a unique dining experience, head to Nagoya and try Hitsumabushi, which consists of sliced grilled eel served on top of steamed rice. However, what makes this a special dish is that you eat it in four portions, each time with slight variations which change the flavour and texture completely. 2. Kathmandu, Nepal Some great dishes fro ..read more
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