Category: Australia

The Australian Bushfires – how you can help support Australia while ensuring that donations are tax deductible in the United States.

The bushfires are having disastrous consequences across Australia. It is with great sadness that each day we witness, from afar, the destruction of land, homes,...

Read more

Is your Australian related party loan “debt” or “equity” for US tax purposes?

If you are attempting to determine how your related party loan could characterized for US tax purposes, there are a number of considerations you need...

Read more

Is your Australian trust a “grantor trust” for US tax purposes?

The US taxes a “United States Person” (defined to include a ‘US resident’ or a citizen) on a worldwide basis, whereas non-US persons are taxed...

Read more

The 2019 OECD Tax Statistics – how does the US and Australia compare?

The OECD has released its annual Revenue Statistics Report comparing the tax data for all OECD countries . The OECD Tax Statistics The 2019 Report...

Read more

CGT Main residence exemption removed for Foreign residents

  The Australian Senate passed the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 overnight. If you are a “foreign resident” for...

Read more

Double Tax on U.S sourced Capital Gains

The ATO have successfully argued in the Federal Court of Australia in the case of Burton v Commissioner of Taxation [2019] FCAFC 141 that only...

Read more

What does ‘two-up’ have in common with selling Australian real estate while living in the US?

I am often asked how can a capital gain associated with your main residence that is tax-free in Australia be taxable in the U.S.? For...

Read more