How Do I Know If I Have Changed My Australian or UK Tax Residence?

In today’s world people a­re travelling, working and living more and more outside their country of birth. Sometimes when the needs of your business or personal life change, you can find yourself spending a lot of time overseas. Many people are unaware of the tax implications of doing so. This article looks at some of the things that you might need to think about if you are travelling abroad frequently.


The High Court decides in MBI Properties

On 3 December 2014 the High Court handed down its decision of Commissioner of Taxation v MBI Properties.

The earlier decision of the Full Federal Court had created significant confusion within the property industry. Pleasingly however, the High Court’s decision has removed this confusion and resulted in a return to the generally accepted GST consequences for sellers and purchasers of properties sold subject to a lease (known as a reversionary interest). continue reading

Partnership basics

Partnerships are an unusual animal under the tax law. Under that law, a partnership includes not only an association of people who carry on a business as partners (the general law partnership) but also includes persons in receipt of income jointly (a tax law partnership). This means that owning a rental property or shares jointly causes a partnership to exist.

In the event that an arrangement gives rise to general law or a tax law partnerships, what tax obligations arise as a result? continue reading