Let’s dive into the tax implications when you spread your financial wings beyond our sunny shores. Corporate Tax at the Source: First off, when you invest in foreign stocks, those companies are taxed at their home turf. Yep, they pay their corporate taxes there. But here’s the twist: These investments don’t dance under the Australian…
Let’s waltz through some strategies to minimize your tax bill when selling that charming villa in Tuscany or that beachfront shack in Bali. Foreign Resident Capital Gains Withholding (FRCGW): First, let’s address the elephant in the room: If you’re selling foreign property in Australia and the sale price is $750,000 or more, the ATO does…
Let’s unravel the tax implications for Contractors. Australian Taxation Office (ATO) Wisdom:As an independent contractor in the land Down Under, you’re effectively treated like a small business. Picture yourself in a cozy corner office (or maybe just your home office with a nice cuppa). Here’s what you need to know: ABN (Australian Business Number): First…
Who cannot access the FBT exemption Your business structure makes a difference By its nature, the FBT exemption only applies where an employer provides a car to an employee. Partners of a partnership and sole traders will not be able to access the benefits of the exemption as they are not employees of the business.…
