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For the Australian's on here - In case you haven't heard, buried in the detail of the budget earlier this month was an announcement by the Govt that it intends to remove the 50% capital gains tax discount for non-residents after 8 May 2012. If you own shares or property in Australia you might want to seek independent financial advice.

As a newbie I can't post links to relevent websites, but google "capital gains for expats" and you'll find various articles.
 

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Hi Jäger,

You are correct, there have been a number of changes, with most of it affecting those with properties in Australia.

Expats will lose the capital gains tax discount, their tax rate on the income they earn on the properties is going up and if they hold any managed investment trusts the rate of the withholding tax that is deducted is going up as well. I would like to point out that if you are holding a portfolio of direct equities (shares) then the normal rate of withholding tax that is currently applicable (10%) does not change, just those investments in the managed investment trusts.

We prepared a news article summarizing the changes which can be found at Australian Federal Budget Report for 2012/13 – Changes relating to Australian Expats.

There has also been changes to the Living Away From Home Allowance (LAFHA) which may affect some expats. More information can be found at Changes to the Living Away From Home Allowance (LAFHA)

As always seek tax and/or financial advise before making any investment decisions.

Cheers,

Brett
 
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