Whenever baby boomers get together socially, two topics will almost certainly come up in the conversation – aged care and, thanks to today’s globalised world, where their children are living. You can bet that at least one of those children will be living overseas, possibly in the USA or the UK. For Australians living overseas, a major issue that often arises is how to handle the tax treatment of a change in residency.
If you thought tax in Australia could get complicated, it gets more challenging when you’re an Australian who becomes a US resident.
There are a few key considerations you need to keep in mind if you’re an Australian who’s a US resident for tax purposes:
- Investments such as property and managed funds
- Gifts to American residents
Click here to read Pitcher Partners full article that explains the tax intricacies that Australians who become US residents need to consider.
For further information please contact your Pitcher Partners representative.
Partner, Private Business & Family
Advisory, and Tax Consulting
+61 2 8236 7712
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