Foreign Trust Payments: Potential Tax Liabilities for Beneficiaries Understanding When Foreign Trust Distributions Must Be Included in Assessable Income Additional tax liabilities may arise when money or assets of a Read More…
Disguising undeclared foreign income as a gift or loan The ATO is currently reviewing certain arrangements where Australian taxpayers seek to disguise undeclared foreign income as a gift or loan. Read More…
Court confirms ATO’s position on foreign income tax offsets The ATO has welcomed the decision of the High Court to basically uphold the decision of the Full Federal Court in Read More…
CGT main residence exemption for individuals who are foreign residents The Government recently tabled legislation, making its second attempt to deny access to the CGT main residence exemption for individuals Read More…
ATO watching for foreign income The ATO is urging taxpayers who receive any foreign income from investments, family members or working overseas to make sure they report it this tax Read More…