The purpose of this article is to raise awareness of the potential international tax implications for Australian corporate groups with a significant presence in Europe in a post-exit environment. In saying this, we acknowledge that it is impossible to reliably predict the mid to long term cross-border tax profile of post-exit UK and EU at this point in time (noting…
Background Most readers will be aware of the Australian banking sector’s refusal to lend to non-resident investors using foreign income as a basis for meeting lending criteria. Off-the-plan property is attractive to non-resident investors for a host of reasons, but in particular, they are an asset class for which no FIRB approval is required. Having…
In Part 1 of our Insights | Bitcoins and blockchains series we introduced the concepts of Bitcoin and blockchains; we also discussed some of the commercial reasons why Bitcoin surged in popularity as a digital currency and alternative means of settling transactions. Parts 2 to 4 of our series will explore potential applications of blockchain technology to the banking, corporate…
In part 3 of our Tax insights | investing in property series, we discuss the CGT main residence exemption to situations involving multiple main residences. Multiple properties – which do you choose as your main residence? For some owner-investors, a simple but effective property strategy can involve owning and occupying a dwelling and “trading up” from…
Digital crypto-currencies and blockchain self-executing contracts and instruments are this week’s buzz words. So how does the law, tax and GST fit into the equation? In Part 1 of our Insights | Bitcoins and Blockchain series, we provide a brief introduction to the Bitcoin and Blockchain technology. In future installments, we will discuss the application of law, Australian income…
In the second part of our Tax insights | investing in property series, we extend our discussion of the capital gains tax (CGT) “main residence” exemption (sometimes also referred to as the “principal place of residence exemption”) in the context of Australian expats and investing in vacant land. We also consider the special “6 year rule” which extends the availability…
About to buy your second property? STOP AND READ THIS! We previously published a popular article discussing negative gearing with property investments which offered 5 useful tax tips to consider when buying property. In this series, we will discuss further opportunities to take into consideration when investing in property. Part I discusses what happens with a…