How to Reduce Tax and Build Your Wealth Whilst Living Offshore
If you are living and working overseas there are a number of additional factors you need to be aware of when managing your money.
First and foremost, you may no longer be a tax resident in Australia. Instead, you may have become a tax resident of the country in which you are residing. Becoming a non-resident for tax purposes in Australia gives rise to a number of considerations. For instance, non-residents pay a higher rate of tax (32.5% or more) and are not afforded a tax-free threshold (i.e. tax is payable on the first dollar earned). This, and a range of other considerations discussed below, are particularly relevant if you own income-producing assets in Australia or you are redirecting your surplus Continue reading “How to Reduce Tax and Build Your Wealth Whilst Living Offshore” »