Aussie Expats

[Garry9999]

New rules came into effect on July 1 and are forecast to bring in an extra $675 million in tax receipts over four years....................... Under the changes, Australians who work overseas for more than three months but less than two years are no longer exempt from paying Australian tax while they are out of the country.

SMH http://business.smh.com.au/business/miners...90723-duw5.html

[david96]

Here is information on the subject from the Australian ATO website.

http://www.ato.gov.au/taxprofessionals/con...ntent/64144.htm

[sanmiguellight]

This is going to be the outcome of the credit crunch for many offshore workers of all nationalities soon.

[Harcourt]

Sounds a bit startling and unfair at first: Ozzies suffering double taxation. However, "....If you have paid foreign tax in another country, you may be entitled to an Australian foreign income tax offset, which provides relief from double taxation...." (from David96's link) mitigates the effect somewhat.

It's going to be fun adjusting amounts for partial financial years if the Thai financial year is different to Australia's.

[tuky]

Just become a Non Resindent for tax purposes.

Then forget about the ATO.

[soundman]

Moved to business forum.

[samran]

Just become a Non Resindent for tax purposes.

Then forget about the ATO.

exactly.

The rest of it is all a bit of a blow up from people who were maintaining residence in australia - eg to claim many middle income welfare benefits available eg Family benefit, access to tax deductions for work and travel, etc etc etc, while at the same time skimping on tax. At least that is what the government will argue.

So, become a non-resident. Thailand is a good place. Money that stays offshore and not bought into the country in the year it is earned isn't liable for tax.

[david96]

There is quite a lot that one needs to consider if you are going to live overseas as a

non resident tax payer.

Plan to be away for several years at least.

You need to find a country that you can obtain long term residency and that does

not mean tourist or visitors visas. You need to be able to buy or lease a place to

live.

If you are self employed you may have to pay taxes in the country you are now

living in.

If you are an employee your place of hire may not be the country you are now

living in, but a third country and you may be subject to taxes in that country.

To consider this option you should be single, and marriage, unless to a national of that

country you are considering living in could cause problems.

One would imagine most persons who have recognised professional qualifications

wuld head for Singapore, Malaysia, Hongkong etc. Thailand may not be the best

option except that its cost of living is much lower. For others Thailand may suit.

It is not just about minimising your tax. The one thing you will not loose is your right

to vote while overseas, but that is a waste of time because you have no one to

represent you,yet come election time political parties want the overseas vote!