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Moving Overseas

The opportunity to live and work overseas presents a range of questions including:

  • What will it be like?
  • Where will we live?
  • Which schools are the best?
  • Which removal firm should I use? 

Often forgotten is:

How much Australian tax will I have to pay when I leave and while I'm away.

This question, asked at the right time, leads to other questions such as:

  • Where will I be a tax resident?
  • I’m going to rent out my home – does that affect the main residence exemption?  What about my rental property?
  • I have a share portfolio – what if I sell my shares while I’m overseas?
  • Do I have to pay tax on my dividends and interest in Australia?
  • Do I have double tax issues?
  • What happens to my superannuation?  What about my self-managed superfund?

The International Team run pre-departure planning meetings to give you an opportunity to understand your tax obligations and plan ahead.  Where appropriate we can meet with your financial planner and look to arrange a connection with a tax advisor overseas so that the financial and tax transition to expat life is smooth.

Contact us today to arrange your pre-departure meeting.

Client Experience

 

Many of our new clients have received offers to work overseas that they cannot refuse.

 

We met with one such client recently who accepted the opportunity to work in the US.  After meeting with her and her financial planner we were able to provide guidance on:

  • The tax treatment of the unrealised gains in her share portfolio
  • The tax treatment of her primary residence once it became a rental property
  • The tax treatment of vested and unvested employee stock option.
  • The potential tax issues to be considered when she returns to Australia.

With this information she and her financial planner were able to make better decisions about her future investment plans.  We were also able to introduce her to a tax advisor in the US with expatriate tax expertise to assist her with her transition into the US tax system with a view to minimising potential tax exposures and double tax issues.