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In recent years, we’ve seen a significant increase in individuals and families looking to make Australia home - both returning Australian expats and foreign nationals. While tax isn’t commonly considered during the relocation process, due to Australia's complex tax rules and high rates of tax compared to other developed countries, it is an important consideration.
The Australian Taxation Office (ATO) has recently been focusing on private family groups with offshore wealth entering Australia. Without proper tax planning and knowledge of your Australian tax residency status, you could potentially expose yourself and your family to adverse tax consequences, such as income from your offshore investment structures being subject to the highest marginal rate of tax (47%), and in some instances, double taxation of income.
Our dedicated community of solvers, can help you navigate the complex Australian tax requirements applicable to foreign companies, trusts and superannuation funds. Working with you either prior to, or post your arrival in Australia, our tax specialists can provide you with clarity regarding the taxation of your domestic and overseas controlled entities.
We offer a broad range of services to help both individuals and families manage their international tax affairs from an Australian tax perspective.
PwC | Private | Partner - Family Office, PwC Australia
Tel: +61 412 401 344
PwC I Private I Senior Manager - Family Office, PwC Australia
Tel: +61 409 843 323