Background As a general rule, Australian resident individuals who invest in a rental property located outside Australia are assessed to tax in Australia on the net rental income in a similar way to rental income that is received from an Australian rental property. Note: Australian resident individuals who hold a temporary residency visa are usually …
A couple of items from the Budget Press Releases are worth noting by those who are living in Australia: > Personal allowances for non-residents: “To ensure the UK personal allowance remains well targeted, the Government intends to consult on whether and how the allowance could be restricted to UK residents and those living overseas who …
A new form P85 has been issued by HM Revenue, reflecting the changes to the residency test in the UK which came into effect earlier this year.
The Western Australian Government has announced that it intends to require subclass 457 visa holders whose children attend public schools in WA to pay an annual fee of $4,000 per child from January 2014.
HM Revenue in the UK is offering individual taxpayers the opportunity to bring their tax affars up to date, and to be offered the “best terms available” if a Self Assessment tax return has been issued for any tax year up to 2011/12 where the taxpayer has not yet filed the return.
Legislation introducing amendments to the LAFHA discussed on earlier postings has cleared the House of Representatives, and now moves to the Senate, where we anticipate little opposition.
In today’s Federal Budget the Australian Government has announced more details of its reform to the Living Away From Home Allowance regime.
For many years UK businesses that have ceased to trade have had the opportunity to make use of a concessional tax treatment that allows them to be wound up and struck off the records at Companies House with minimal cost – the so called ESC C16 strategy.
The Federal Treasurer in Australia has announced a consultation period in anticipation of what are expected to be significant changes to the Living Away From Home Allowance – or LAFHA – from 1st July, 2012.
The 31/10/2011 deadline for lodging a 2011 personal UK tax return on paper has now passed. This means that all who are required to submit a 2011 UK return must now work towards the deadline for lodging the return electronically – 31/01/2012.