It is APC’s experience that far too often, ex-pat Australians do not take full financial advantage from their time overseas. For many, they are not sure what the best strategies are to grow wealth tax effectively. Most ex-pats would acknowledge that remaining up to date with relevant information is very difficult when you live overseas.
Expatriate Australians can face a myriad of financial questions and challenges. In what can be a complex landscape, finding and working with specialist advisers will likely be the most important decision an ex-pat can make to help them achieve good financial outcomes. Through long term experience, APC understands the unique advice needs of ex-pats and is well positioned to assist in creating a sound financial strategy.
In addition to applying this comprehensive advice approach, APC recognises there are several other key areas which ex-pats value further assistance with:
Whether presently working or living abroad, considering a move or returning to Australia, APC is equipped to work with you in gaining clarity, control and confidence in your wealth management.
Please contact our office should you wish to learn more.
The Federal Government ‘5 year plan’ of tax changes for foreign and expat property investors and owners continues…
Affordability of housing, especially for first home buyers has long been on the agenda for both Federal and State Governments. It is a topic which concerns everyone, not only at, but particularly at Budget and election times.
You would have all heard discussions about negative gearing, generous capital gains tax concessions, deductions being claimed by landlords and of course the influx of foreign investors. All seeming to push prices to levels beyond the reach of the average aspiring homeowner.
Some of the changes which the Federal and State Governments have been implementing for the past few years are squarely aimed at addressing Australia’s seemingly endless demand for housing. This article will only be focusing on the changes aimed at foreign investors and foreign tax residents – yes there is a difference! Also, as the heading implies, the article will deal and address issues in relation to property investors and specifically residential property.
The rationale behind the new taxes, duties and levies imposed is that they will ‘encourage’ a change of behaviour – such as expats selling their empty Australian ‘main residences’. Or foreign investors not leaving their properties vacant for extended periods of time. Whether these measures are effective, time will tell…
Before we proceed further, it is important to distinguish between a ‘foreign investor’ and a’foreign resident’. This is important as some measures only apply to foreign investors and not foreign residents.
It is very important to be clear in your own mind as to what category you are in before proceeding. It is not uncommon for both categories to apply to you. To ensure you do not unnecessarily end up making the wrong investment and taxation decisions, I strongly encourage you to contact your adviser(s) and get the starting point right.
It is evident the area of property investment for both foreign and non-foreign investors requires much more analysis and discussion than ever before with the new rules and changes outlined and in place.
As action points, I suggest the following;
As a final action point – be properly advised to ensure you have all the information available to make the right investment and tax decisions.