2018 Australian Federal Budget – tax changes


Changes have been made for personal and business tax clients; Australian corporates and multinational groups. Personal Taxes Introduction of a Low and Middle Income Tax Offset, non-refundable, from 1 July 2018: Up to $200 for taxpayers with taxable income of $37,000 or less Up to $530 for taxpayers with taxable income between $37,000 and $48,000…

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The changing tax landscape of Australian Property Ownership


The last 5 years have seen some significant changes to the taxation of Australian property owned by foreign-resident taxpayers, but the 2017 Federal Budget marked a step-change. If the measures announced in the 2017 Budget are implemented, they will result in a very different tax landscape for foreign- resident owners of Australian real estate. Budget…

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Australian homes sold by overseas residents


Proposed changes to the Australian Main-Residence Exemption – Act now to avoid a significant increase in the tax liability on the sale of your Australian Home. As part of Federal Budget 2017, on 9 May 2017, the Government announced plans to withdraw the main-residence capital gains tax exemption from foreign-resident and temporary-resident taxpayers. The exposure draft of…

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Australian Tax Impacts of Medicare


Having grown-up with the NHS, one of the issues that many UK expats struggle to get to grips with is how the Australian healthcare system impacts on their tax liability. The Australian Federal Government healthcare system is known as Medicare.  Medicare provides a contribution towards basic medical expenses of eligible Australian resident individuals.  All Australian…

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What is Division 293 tax? Division 293 tax is being introduced from the 2012–13 year to reduce the tax concession on superannuation contributions for individuals with income greater than $300,000 a year. ATO has recently started issuing the first assessments. The Division 293 tax was announced as part of the 2012 Federal Budget as an…

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