This webinar, the seventh in our back to basics series looking at the fundamentals of Australian tax, explores how the residency of a taxpayer can affect their Australian tax position.
Using practical examples, case studies, sample calculations and clear language, we will explore how the residency rules work and will then apply those to a practical guide covering areas such as:
• How are residents taxed?
• How are overseas assets taxed when a client first comes to Australia?
• How is overseas income taxed in Australia?
• What is a temporary resident and how are they taxed?
• How are non-residents taxed?
• How are Australian assets taxed when a client leaves Australia?
• Is your client resident or non-resident and what difference will it make?
• CGT and residency
• What is Taxable Australian Property and how does it affect tax?
Webinar Learning Outcomes:
Attendees will learn how to apply the residency rules to work out if clients are Australian residents, foreign residents or temporary residents. The webinar will then highlight how each category is taxed, with reference to common income sources such as employment income, capital gains tax and foreign income. Following the webinar, attendees will be able to assist clients who are temporarily or permanently departing Australia or arriving in Australia.
This series of introductory webinars is ideal for those starting a career in tax who wish to understand the fundamentals of the Australian tax system. It is also ideal for accountants in non-tax roles who want a high level overview of how the tax system works, as well as other professionals who might need to understand how tax could impact their clients, such as financial planners and legal professionals.
Since 2015, Mark Chapman has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director. Mark is also the author of Life and Taxes: A Look At Life Through Tax published by Wolters Kluwer, CCH Australia.
Mark has over 25 year’s experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
You will be provided with:
• PowerPoint Presentation slide deck
• Any Supporting Documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
Australian residents and foreign residents: the tax impact of residency.