First Impressions - Test driving the proposed residency rules The pending overhaul of Australia’s individual tax residency rules, announced in the Commonwealth Government’s 2021-2022 budget[1] based on the Board of Taxation’s 2019 report, ‘Reforming Individual Tax Residency Rules – A model for modernisation: a report to the Treasurer’[2] (‘Report’) mark...
Relaxing Super Residency Rules
Superfund residency requirements are being relaxed. Under changes announced in the 2021-2022 Commonwealth budget, the ‘Active Member’ test is being abolished and the Central Management and Control safe harbour is being extended from 2 to 5 years. Great news if you live and work overseas but have an SMSF or...