During May 2021s budget, Australia's Federal Treasurer, Josh Frydenberg, announced that Australia will replace it's tax residency rules for individuals with a so-called 'bright line' test. The changes will be based on a Board of Taxation report issued in March 2019, in which a range of new tests were proposed.
Find out how to reduce the tax you pay
The key questions that Australian expats need to consider whilst working in Asia are ‘how will these new rules apply to me?’ and ‘what actions could I take to reduce and my future tax liabilities in Australia?’.
But since draft legislation has yet to be tabled by the Federal government, it is likely that the new tax changes will not be implemented until 1 July 2023’, giving you more time to prepare!