Expat Taxes - Australian Expat Accountants & Tax Advisors

Update: Thailand Clarifies Tax on Foreign Income Background to Thailand’s Plan to Levy Tax on Foreign Income Recently we published “Tax Alert: Thailand to tax foreign income”, an article about significant new changes introduced by the Thai Revenue Department through Revenue Order…

📌 TAX UPDATE - Thailand issues new Revenue Order that attempts to clarify how Thai tax residents will be taxed on any foreign income that they bring into Thailand.

Recently, we shared insights on Thailand's new tax regulations that seek to tax foreign income, a move that stirred the waters for many Australian expats who will likely be significantly impacted by these changes!

While aiming to tax all foreign income brought into the country, Thailand's new rules leave a trail of unanswered questions and significant uncertainties about their practical application.

The Thai government has now issued new guidelines to clarify some of these murky areas. However, it's clear that several critical uncertainties still linger, affecting how Australian expats manage their finances.

📌 Are you navigating these tax changes in Thailand? Wondering how the new rules will affect your income and what strategies you can adopt for better tax planning? Our latest article dives deep into these changes, offering clarity and actionable advice.

Click the link to read our analysis and learn how you can stay ahead in Thailand's rapidly evolving tax landscape! 👇👇👇

Update: Thailand Clarifies Tax on Foreign Income Background to Thailand’s Plan to Levy Tax on Foreign Income Recently we published “Tax Alert: Thailand to tax foreign income”, an article about significant new changes introduced by the Thai Revenue Department through Revenue Order…

Make sure you’re across all these changes and how they impact you, sooner rather than later. Consult an expatriate tax expert: Tax is tricky at the best of times in just one country, let alone when you straddle two countries like Australia and Thailand, and with these changes, it’s just become a whole lot trickier! 😞 If you have questions or need some assistance, reach out to our highly skilled and experienced expatriate tax accountants who can assist you in navigating the complexities. https://www.expattaxes.com.au/tax-alert-thailand-to-tax-foreign-income/

Tax Alert: Thailand to tax foreign income Thailand to tax foreign income! Significant changes in Thai tax law are on the horizon for Australian expats residing in Thailand, and they require your immediate attention. On 15th September 2023, the Thai Revenue Department…

Urgent Tax Alert - Thailand to Tax foreign income remitted to Thailand, regardless of when it is brought into Thailand!!

Sadly these changes stand to affect many Australian and foreign expats residing in Thailand, (particularly those who do not hold a Long-Term Resident Visa and are not considered as Wealthy Global Citizens, Wealthy Pensioners, or Work-from-Thailand) living off their Australian superannuation and investment income!

On 15th Sept. 2023, the Thai Revenue Department issued Revenue Order No. 161/2023 decreeing that from 1st January 2024, Thailand will tax any foreign income brought into Thailand by tax residents regardless of when it was remitted. This includes, pension income, investment income, and other foreign income earned by Australian expats.

This significant change in tax policy by the Thai government appears to have been brought in as a result of Thailand's recent implementation of the Common Reporting Standard - if you don't know what that is, you really should read the article below to learn more.

Previously, foreign income earned by tax residents of Thailand, was taxable in Thailand only if brought into Thailand in the same tax year (i.e calendar year) that it was earned. But the issue of Revenue Order No. 161/2023 means that from 1st January 2024, any foreign income brought into Thailand will be taxable in Thailand (regardless of when the income was brought in).

Exactly how these rules will be applied, we don't know yet, but it's fair to say, that the implementation of these rules may impact some Australian expats severely.

This is particularly true for those living off fixed capital via their Australian superannuation pensions because their pension income, although tax-free in Australia, is very likely to be fully taxable in Thailand. And sadly, as the tax treaty passes the taxing right on pensions earned by tax residents of Thailand for tax treaty purposes, (excluding Australian government pensions), to Thailand, sadly, the tax treaty won’t help.

To learn more about how these new rules (the new revenue order, and Thailand's implementation of the Common Reporting Standard), and how these new rules will impact you, take a look at our recent article (below):

https://www.expattaxes.com.au/tax-alert-thailand-to-tax-foreign-income/

Get your 2023 Asian Championships Record Record! Get your Champs Record! Click here or hit the image below to view the 2023 ATG Asian Championships Record to learn more about your favourite teams and players or check out the competition in each division! Or you can view the 2023 ATG Asian Championships on SlideShare here. Huge thanks goes....

🙌Thankful Thursday🙏

Don't let tax concerns put you off getting out there and exploring the 🌏 for either work or play.
International taxes are complicated but they're all we do so we're ready and able to help. Chat with our team today to find out where you stand and plan any travels with peace of mind. You can visit www.expattaxes.com.au to book an appointment 🤝

We'd like to wish all our clients, families and friends an extremely Happy New Year 🎆🎉🍾

May your 2023 be a year filled with good health, good times and prosperity for you all 🙏

Wherever you are... 🦘➡️🌏
The entire Expat Taxes team would like to wish you a Merry Christmas & a Happy New Year‼️
🎄🎁⛄️🌟

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Fixed prices are one the most complimented part of our services. Why? They mean our team are available to you to get your tax returns done whatever it takes. No clock tracking and billing of hours. You feel comfortable you'll get the service you need without any nasty surprises.
If you need to get your expat taxes in order contact our team today 🤝

Entrepreneur visas offer unique opportunities to launch or expand your business while achieving an optimal work/life balance amongst several other benefits.

We look at the benefits and best options in our latest blog post. Have a look if you've ever considered or wondered about this enticing form of visa.

5 Entrepreneur Visas for Business Owners to Live Overseas Are you an Aussie expat business owner? Are you intrigued by the idea of paying less tax? If so, we encourage you to consider taking your business offshore. Not only this, but various countries will…

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Expat Taxes is all about knowing your options. There's often not specific right and wrong solutions but finding the best ways to balance your obligations with full compliance across jurisdictions can save you a fortune.
If you're not sure about your expat tax options, contact our team to explore them and help you identify the best way to move forward 🤝

A recent decision by the ATO has huge implications for Australian's Tax residency for maritime industry workers. You can find out more about the case and potential implications if you also work in the industry.

As always if you're unsure just reach out to our friendly team for a chat...

Tax Residency for Australian’s working on cruise ships or yachts On 2 November 2022, the Administrative Appeals Tribunal gave their decision in relation to the case between Duff and the Federal Commissioner of Taxation. Duff, an Australian, who was employed as a chef on a…

Could your residency for tax purposes have been impacted by the Covid pandemic travel restrictions?

We've outlined the flexibility the Australian Taxation Office have applied when dealing with Australian Expats who have spent extended periods in Australia working remotely due to pandemic travel restrictions. Have a read and if you're not sure of your particular circumstances our team are always here for a chat 📞

https://www.expattaxes.com.au/could-remote-working-during-the-pandemic-affect-your-tax-burden/

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Multi country taxes are complicated.🦘
This is why we specialized in 🇦🇺 Expat Taxes. Doing this enables us (as expats our selves) to gain specific knowledge in the complications of residency and multiple jurisdiction compliance many Aussie Expats face.
If you're not sure about your specific tax situation reach out to our team for a chat today 🤝

Considering becoming an Expat? 🌏
We're biased but we think it's one of the best choice you could ever make. Our latest blog takes a look at 3 of the main ways to make the plunge.

Which approach will you go for? 🛫

3 ways to enjoy expat life When you think about living as an expat, what springs to mind? Everyone has their own idea of what it means to be an expat, but there is more than one way to enjoy this…

Are you a director of a company or business in Australia? If so please read on to fully understand your new obligations...

Australia has recently introduced legislation that requires company directors to register for a “Directors ID” number, with harsh penalties in the tens of thousands of dollars, for those who fail to register by 30th November 2022. Yes, you read that correctly – there’s only 5 days from the date of today’s article to apply for a Directors ID and avoid penalties hence the reason for our flash update in today’s article!

Urgent Deadline for Directors ID Registration in Australia – November 30th 2022 Living and working overseas as an Australian expat, or as a non-resident of Australia means that it’s easy to overlook your Australian tax and compliance obligations, because these things are often “out of sight, out…

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It's not that regular accountants are incompetent, it's that expat tax issues are uniquely complicated. That's the precise reason we founded Expat Taxes - Australian Expat Accountants & Tax Advisors.
To help outbound, inbound and returning 🇦🇺 expats manage the complexities of multiple tax jurisdictions and ensure you minimise your taxes whilst avoiding any nasty surprises.

If you're not sure of your tax obligations as an expat get in touch with our team and we'll be happy to help 🤝

Property is one of the best and most common expat investment options. In our latest blog post we take a look at why you should consider property investment and some of the key factors to consider in any property investment.
https://www.expattaxes.com.au/the-power-of-property-investment/

The power of property investment Finding the right commodity, stock or corporation to invest in is a big decision, but it doesn’t have to be a hard one. We all know that investing in property is a fantastic way to…

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Do you fully understand your tax positioning and obligations? Expat taxes are very complicated and we take pride in both simplifying the process and delivering the best outcomes to each and every one of our clients. If you're not sure of your obligations or current tax status we'd be only too happy to help! 🤝

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By focusing on 🇦🇺 Expat Taxes we have a unique understanding of the ins and outs of various countries tax systems. This specific insight can result in massive benefits to you in paying the least tax whilst being fully compliant.

If you're not sure of your obligations or current tax status we'd be only too happy to help!

Best thing about living and working in different countries? If it's not the food it must be up close!

Our latest blog post focuses on 5 of the most delicious destinations in Asia, which of these tasty towns have you dined in?

The 5 best cities in Asia for foodies One of the best parts about moving overseas is being able to sample all the wonderful foods of a different culture and country. If trying new delicacies is something you enjoy, read on for a…

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Expat taxes are a complex space, by dedicating our expertise in this space we make it as easy as possible for our clients to structure their taxes in the best way possible and to feel confident their obligations will be met both before jumping into expat life and during your time overseas.

If you're not sure about any element of your tax or finance requirements reach out to our team for a consultation today! 📞🤝

Thanks to Paul W who became our 100th new Expat Taxes client this financial year!🍾🎉

We're very thankful to have so many fantastic new clients joining us this year alongside our existing client base in all corners of the world (106 countries at last count)!🌎

This year we achieved the '100 new clients' milestone in only 94 days from 1 Jul 2022 to 22 Sep 2022, and we're well on the way to reaching the '200 new clients' milestone already, as another 15 new clients have joined us in the last two weeks alone! 🤝

www.expattaxes.com.au

Becoming a dual citizen can have advantages but it doesn't exclude you from tax obligations. Check out our latest blog post to avoid these dual citizenship tax mistakes.

The dual citizenship tax mistake you need to avoid Every country has its own tax procedures, policies and rules; no matter where you live and work, you’ll need to make sure you’re aware of these for your circumstances. Becoming a dual citizen of a…

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It doesn't matter how long you've been living as an expat, having reliable, convenient tax advice is one less thing you need to worry about. Whether you've been overseas for decades or are planning your first expat adventure we're here and happy to help!

You can read more feedback from hundreds of clients like Mark here - https://www.expattaxes.com.au/testimonials/

If you're not sure of your obligations or current tax status we'd be only too happyIf you're not sure of your obligations or current tax status we'd be only too happy to help!

Negative gearing is a common strategy used by Australians to make tax savings.
Our latest blog explains what negative gearing is and whether it could be an effective tax strategy for Aussie expats.

https://www.expattaxes.com.au/can-an-australian-expat-use-negative-gearing/

Can an Australian expat use negative gearing? Negative gearing is a strategy used by many Australians to make tax savings, but is this strategy still accessible to Australian ex-pats that are living overseas? In this blog, we explain what negative gearing is…

Yep, as 🇦🇺 Expats we're biased 😉 but there's plenty of reasons to take your business overseas 🛫

Here's a few...

https://www.expattaxes.com.au/the-many-reasons-to-take-your-business-overseas/

The many reasons to take your business overseas Whether you have a small startup business or you are well on your way to becoming a household name, for entrepreneurs the thrill is always found in the next challenge. No matter what kind of…

Becoming an expat is an exciting time but it does come with challenges. As expats ourselves we've felt many of the highs and lows.
Here's a few tips we've prepared to ease your the stresses as you embark on your expat adventure 🛫

How to ease your expat stress once you’ve moved Becoming an expat can be an extremely exciting time in your life, but it can also cause a lot of doubt, stress and nerves. It’s normal to feel homesick and worry if you have made the…

Whilst we don't wish it on any of you, divorces do happen and as an expat require some special consideration and planning. We've put together a few tips for any expats going through a divorce.

If you need any specific advice especially around taxation please reach out to our team as we're always ready to help 🤝

https://www.expattaxes.com.au/financial-tips-for-expats-undergoing-a-divorce/

Financial tips for expats undergoing a divorce Managing the emotional and financial implications of a divorce can be difficult for anyone. When you’re an expat, the situation can become even more difficult. We’ve put together some helpful financial tips to make managing…

🙌Thankful Thursday🙏

While tax compliance is essential to everyone, us expats regularly face especially complex tax situations🤯

Understanding and finding the best solution to taxation issues for all our clients is what drives us every day. When we get feedback like this from Daniel in Canada that confirms we're on the right track it makes it all worthwhile❤️

You can read more feedback from hundreds of clients like Daniel here - https://www.expattaxes.com.au/testimonials/

If you're not sure of your obligations or current tax status we'd be only too happy to help!

Considering an overseas expat adventure? If you're heading to one of these 9 cities you'll need to make sure you've got the income cover the world's highest expenses...

The 9 Most Expensive Cities for Expat Living As an Aussie expat, there are many reasons you may decide to live overseas. You may wish to pay less tax, discover new investment opportunities, pursue a new career, or simply enjoy greater freedoms. For…

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This is the type of feedback we ❤️LOVE❤️‼️

We know the challenges and pitfalls of not keeping your Australian Tax obligations up to date as an expat and take pride in making it all as simple as possible for our clients.

If you're not sure of your obligations or current tax status we'd be only too happy to help!

Our latest blog article outlines many of the key International considerations you need to take in regarding your Australian tax returns.

If you're not 100% sure of your tax obligations or status have a read to ensure that:
- you don’t end up paying more than you need to;
- your return is totally accurate; and so that,
- you stay on the right side of the Australian Tax Office (ATO) as you don’t want to have a black mark against your name there!

As always, if you're still not sure reach out to our team for some friendly advice 🤝
https://www.expattaxes.com.au/your-australian-tax-returns-international-considerations/

Your Australian tax returns – international considerations After the past couple of tumultuous years, it’s hard to believe that this last tax year (2021/2022) has passed so quickly! Given how quickly time seems to pass nowadays, it’s probably no surprise, that you’ll…

When just one country is involved, tax is complex. By becoming an expat and straddling two or more countries, well, the complexities are mind-boggling!

At Expat Taxes, most of our team are expats or former expats! So, unlike most, we’re uniquely placed to assist, because as expats ourselves, we understand first-hand, the life of an expat, along with all the various 🇦🇺 tax and other issues that go along with living and working as an expat overseas!

Beyond that, our team thrive on the complexities of Australian and international tax laws, and the interplay between each country's tax systems. Getting things wrong can be incredibly costly, so reach out if you have questions or issues that you’re unsure about.

We also feel incredibly honoured, yet humbled that so many of our new clients are referred to us by other happy clients. We understand that you are putting your own reputation on the line when you make a referral. We're grateful for the faith you've placed in us and we thank you trusting us with your recommendation.

You can view more of our testimonials here - https://www.expattaxes.com.au/testimonials/

South East Asia is one of the most dynamic regions on earth. With continued economic growth it could be one of the best places to do business today and into the future.

Our latest blog article looks at some of the reasons this region is so conducive to business success and some of the places to consider if you're looking for a base in the region.

Have you considered a move to South East Asia?

Is Southeast Asia the Best Place in the World to Start a Business? Are you an Aussie with a fantastic business idea? You may want to consider relocating to launch your entrepreneurial venture, possibly even overseas and if so you’ll need to consider many potential destinations. Today, business…

🙏 Thankful Thursdays! 🙏
Heading off on the adventure of a life time and working overseas is only one part of the expat experience. Heading home and making sure your taxes are all under control is critically important and it's one of the key services that we provide to support our clients.
Congratulations to Terryn and the team on another 5 🌟 Rating, you can view more of our feedback here - https://www.expattaxes.com.au/testimonials/

Are you an Aussie thinking of heading overseas? 🦘⏩🌏

Welcome to our world! As Aussie Expats we're sure you're going to find great opportunities and experiences abroad but you do need to consider the tax implications. Here's a few of the key issues to consider...

As always, contact us if you need any further clarification and to avoid any complications later 🙏

Tax tips for Australian Expatriates Moving Abroad For Australian expats moving abroad, taxation can be a complex and a confusing process. The rules are different depending on where in the world you live and what type of income you earn. For example…

Our Senior Tax Manager Grant Keating offered his expert advice to CPA Australia's monthly business magazine INTHEBLACK's excellent article on expat work.

Now that international borders are re-opening international work opportunities are once again emerging, the article offers some key considerations for employees and employers of expat staff either taking their career overseas or looking to head home.

Well worth a read if you're an expat yourself or considering becoming one!

Senior Tax Manager Grant Keating Featured in CPA Australia’s INTHEBLACK As the world moves forward from the period of Covid-19 Pandemic challenges the concept of working overseas is back into consideration for many Australian professionals. Recognising this, CPA Australia’s flagship publication, “In the Black” magazine…

Our latest blog post outlines some of the many benefits of holding dual citizenship.

Have you considered whether you could be eligible for dual citizenship? Could you enjoy some of the benefits?

If so, click through and read on...

What Are The Advantages to Holding Dual Citizenship? There can be quite a few advantages to holding dual citizenship. But before we get into that, what does dual citizenship entail? Dual citizenship is the legal process of obtaining citizenship in two countries at…