If you've decided that you want to work abroad, it is vital that you carefully consider how this could impact your tax status. This article explores the benefits of establishing non-residency in Australia for tax purposes. 1. How residency impacts tax liability If you are resident in Australia for tax purposes and you work in another country, you could find yourself paying tax twice on the foreign income. Firstly, you will be taxed in the country you are working in.
17 February 2021
If you've recently arrived in Australia with the intent of taking up residence, you may have a lot of expenditure to consider. You've got to find a place to live and put down a deposit, sort out a set of wheels so that you can get from point to point, hook up your utilities and so much more. Consequently, you will have to keep an eye on your budget to make sure that you don't run out of money and will need to look for savings wherever possible.
24 July 2019
Some people find the preparation of their taxes a daunting task while others feel comfortable handling the job for themselves. While preparing your taxes is a welcome approach especially if you love numbers, hiring a tax accountant is a good idea. Below are three reasons why you need to hire a CPA for your tax preparation. They Are Professionals A certified public accountant is a qualified individual who has gone through the necessary schooling and accountancy tests and is merited to prepare taxes.
7 November 2017
If you're looking for a career that requires a practical approach to work, together with good numerical skills, you might want to consider becoming a quantity surveyor. Quantity surveyors' work entails managing costings relating to construction projects from the initial estimates right through to the final figures. The work can be carried out in an office environment or actually on-site. So what qualifications and experience do you need to become a quantity surveyor?
17 January 2017
For most people, tax season can be a chore at the best of times, but for freelancers, taxes can be even more daunting of a task. Whereas working for an employer makes your expenses very clear-cut, the same cannot always be said for freelancers. Many freelancers work from home, and as such, it can be difficult to discern what can be legally considered as tax write-offs and other deductions. One particular thing that concerns some freelancers is the amount of deductions they can receive on internet usage and electric bills.
21 December 2016