My Client – The Expatriate

Published on 28 Oct 2010 | Took place at UQ Downtown, Brisbane, QLD

Working offshore or arriving in Australia presents a wealth of planning opportunities. It is a critical time for clients to seek professional advice. The post section 23AG regime is live for the 2010 tax return. A series of changes in key legislation around tax and employee share plans means it is time for a review of any clients who may work offshore or intending to seek overseas employment.

The Australian Taxation Office has also issued a number of important rulings and determinations that will impact the use of Australian Self Managed Superannuation Funds by Australians working or living overseas.

This event covered the following topics:

• when do you pay foreign tax and when do you pay Australian tax?
• what are the implications of the 1 July 2009 changes to s.23AG? The loss of the exemption on overseas employment income from Australian tax will affect clients’ tax returns for the 2010 year onwards.
• failure to understand and correctly apply the foreign income tax offset rules will impact on client’s tax liabilities
• how should employers be managing PAYG and FBT for offshore employees in particular the impacts of the recent draft TD
• when can you use a SMSF if you are living or working overseas?
• what should inpats and expats be doing with employee share plans?
• opportunities and pitfalls for inbound individuals getting the benefits of the temporary resident rules.