AUSTRALIAN AND NEW ZEALAND CHAMBER OF COMMERCE IN JAPAN
Hidden away in the back of the Australian Budget and unmentioned in the Treasurers speech, was a simple statement confirming that:
“The Government will replace the individual tax residency rules with a new framework that is easy to understand, provides certainty and reduces compliance costs for globally mobile individuals and their employers.”
The Budget has flagged that these changes will likely come into effect from the 1st July 2022.
A new “Bright Line” test is proposed that would deem someone a Resident for Australian Tax Purposes if they are in Australia for more than 183 days in a year. This has very serious and unfair consequences for many expats during this pandemic.
What is more concerning is the proposed ‘Factor Test’ for someone that has spent more than 45 days in Australia. This test is a simple tick box test made up of 4 questions that are so ‘loaded’ that almost any expat would score enough to be considered a resident if they tick 2 of the boxes.
Register for this exclusive free webinar as we clarify:
ANZCCJ are glad to be teaming up with Australian Chambers in Taipei, Lao, Cambodia and Mongolia for this exclusive webinar featuring SMATS Group.
Date: Tues 29 June, 2021
Speaker: Steve Douglas, SMATS Group CEO
Steve Douglas is the Co-Founder & Managing Director of Australasian Taxation Services (1995) and Chairman of SMATS Group and an avid property investor and developer himself. He is also a Chartered Tax Advisor, Fellow of the Taxation Institute of Australia and a Registered Tax Agent. SMATS Group attends to the needs of over 10,000 property investors and ATS, its tax division, has grown to become one of the Top 100 Accounting Firms in Australia (AFR 2019, 2020).
Please note - SMATS is offering an exclusive free initial tax consult to registrants with their qualified Australian tax accountants to discuss your personal circumstances. There is no-obligation to proceed with their services.
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Contact UsThe Australian and New Zealand Chamber of Commerce in Japan
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Address (Since 01. Oct. 2020) UCF635 Win Aoyama, 2−2−15, Minami Aoyama, Minato-ku, Tokyo 107-0062