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New Migrants & Expatriates
We can help you to determine and plan for your tax resident status when you plan to depart or arrive in Australia.
Your tax residency is vital to your income tax. If you are an Australian tax resident, then you will be taxed globally from the ATO.
We can go through a few ATO tests with you.
helping you in the Pros and cons
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For Australian tax purposes, a person may be considered a resident of Australia, despite:
- living permanently abroad, if the individual intends to return to Australia and visits Australia
- for part of the year as part of the regular order of their life.
Conversely, a person may also be considered a resident of Australia if they maintain a home in Australia
where their family lives and where they spend time while in Australia, even though they are absent from the country for large parts of the year (e.g. a pilot, ship’s captain or contract worker).
The next test is generally referred to as the constructive residence or 183-day test.
Under this test, residence in Australia is attributed to a person who is actually present in Australia,
whether continuously or intermittently, for a total period of more than half the year of income (1 July to 30 June),
unless it can be established the person’s usual place of abode is outside Australia and that there is no intention to take up residence here.
Did you know ...
- Finanical planners are NOT the same with fund managers.
- Financial planners help you achieve goals.
- Fund managers do buy and sell
- Investment is only a small portion of financial planning
- You can …
“not to plan is plan to fail."
— Isaac Asimov.
plan of action
know your Goals
Do NOT trap yourself into selecting the best solution as there is no such thing. Each option is double edge sword and there are pros and cons. It is important to know your goals before discovering solutions with us. What your goals? Tips: pay less tax and earn more wealth are NOT goals, they are habits.
Think about your goals and what you really need.
Stick to your plan but don’t be stubbon. Do it right.
Review your plan, review the situation and adjust them accordingly.