Are you subject to US tax? The answer might surprise you

Current as of 26 February 2021     As an Australian tax resident, you probably feel that how the US imposes tax on its citizens does not concern you. The reach of the US tax department might be further than you think. The United States is one of only two countries in the world to tax its citizens with little … Read More

Service of the Month – International Tax

Current as of 28th January 2021   Service of the Month – International Tax Over the next few editions of S&W Insight we will be going through the various services that we can provide to our clients. You may not be aware of some of the things we can do for you, so we wanted to ensure you know what … Read More

September 2018 – International Newsletter

Current as of September 2018   DO YOU OWN PROPERTY IN AUSTRALIA? In our May and November 2017 newsletters we discussed the proposed removal of the Capital Gains Tax (CGT) main residence exemption for foreign residents.  The proposed measures are contained in Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures (No2)) Bill 2018, which is yet to be passed … Read More

Tips for Foreign Exchange payments and risk

Current as of November 2016   The World of Foreign Exchange and International Payments can often be a minefield for SMEs. Fluctuation in the Aussie dollar, reactive rather than proactive providers and archaic processes/payment platforms all pose their own problems to today’s business owner. Below are some of the common issues business owners come across, as well as some easy … Read More

Are you thinking of doing business overseas?

Current as of November 2016   If you are thinking about doing business in an overseas market, it’s important to get the right advice structuring, set up and tax advice from the start. Did you know that we are part of Kreston International, a global network of independent accounting firms. As a member of Kreston we are able to provide … Read More

Foreign income in the ATO spotlight – the aftermath of project DO IT

Current as of May 2016   If you’re an Australian resident for tax purposes, you are taxed on your worldwide income, so you must declare any foreign income in your income tax return. Foreign income includes: Foreign pensions and annuities Foreign employment income Foreign investment income Foreign business income Capital gains on overseas assets Project DO IT was an amnesty … Read More

BUSINESS NAMES VERSUS DOMAIN NAMES VERSUS TRADE NAMES

Current as of March 2016   It is a common misconception that having a registered business name or domain name will provide a business owner with exclusive ownership of that name. There are important differences between a business name, a domain name and a trade mark. You should be aware of these differences so that you can work out which … Read More

Foreign buyer crackdown

Current as of December 2015 The Australian Tax Office (ATO) has ramped up its efforts to hunt down foreign buyers of Australian real estate, with the employment of 50 compliance officers who will investigate potential breaches of the law by cross checking the records of approximately 11 million people to find illegal owners. The ATO is responsible for overseeing foreign … Read More

Australian Business Numbers ABN

Current as of November 2015   An Australian Business Number ABN is an 11 digit number that identifies your business to the government and community. It is separate to your Tax File Number (TFN), but it is used for various tax and business purposes. If you are carrying on business in Australia, you must register for an ABN. The application … Read More

GST on Digital Products

Current as of November 2015   In the 2015 Federal Budget handed down in May, new rules were announced (commencing from 1 July 2017), to impose GST on “inbound intangible consumer supplies” made to Australian consumers (popularly known as the “Netflix tax”). These new rules were aimed at collecting GST on an increasing number of online services such as music … Read More