Shareholders Relocating to Australia – UK Company Issues

05/11/2018

As well as the personal matters shareholders face when relocating themselves to a different country, consideration should also be given to the effect on the UK company. In Australia, from a tax perspective, receipts on liquidation are treated differently than those in the UK. This can cause significantly increased tax liabilities, which could have been…

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Determining Company Residence in Australia for Foreign Companies with Management in Australia

05/11/2018

ATO have recently published a tax ruling (TR 2018/5) setting out the Commissioner’s view on how to apply the central management and control test of company residency. Under the central management and control test of residency, a company must carry on its business in Australia and have its central management and control in Australia to…

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2018 Australian Federal Budget – tax changes

09/05/2018

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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