Tax & Accounting
CST Tax Advisors
CST Tax Advisors provides international tax advice and compliance services for expats and business clients based in Melbourne.
Drawing on their years of experience, combined with their highly qualified team of tax specialists and Chartered Accountants, CST Tax Advisors is your perfect choice for all your tax advisory and compliance needs.
CST Tax Advisors is here to help you with:
- Accounting and financial services
- Personal and business tax
- Cross-border taxation advice
Tax & Accounting for Expats in Melbourne
As a popular expat destination, Melbourne offers a truly international community and thrilling lifestyle for all types of expats. Keeping up with your tax obligations in Melbourne might be a challenge but with the right tax advisor by your side navigating through the Australian tax regulations will be a much easier experience.
Key Tax & Accounting tips you should know as an expat in Melbourne
- Taxable income of individuals in Australia is taxed at progressive rates from 0 to 45%, meaning the higher your personal income, the higher the percentage of tax that applies to you.
- As an Australian resident, your income from foreign sources will be taxed as well. Employment income and employee share scheme gains are usually taxable if you receive them after moving to Melbourne even though they may relate to service outside of Australia. It is advisable you seek tax advice before arriving in Melbourne to avoid unexpected tax bills.
- Trusts are very widely used in Australia and many expats prefer to hold their investment assets in a trust.
- It’s important to know that if you buy a property in Melbourne as an investment, you have to pay land tax every year to the state government.
Tax & Accounting for expats establishing a business in Melbourne
- Your business in Melbourne is required to pay company tax, capital gains tax, payroll tax and goods and services tax (GST).
- If you own a small business as a sole trader, your business will be taxed based on personal income tax rates.
- Most Australian businesses are required to register for GST with the Australian Taxation Office. Businesses which have paid for business supplies inclusive of GST can claim an “input tax credit”, meaning they will be refunded the amount of GST they have paid.
- The rate of tax that your business will be subject to pay may vary depending on the structure of your business or the industry in which it is engaged. In order to smoothly navigate the complex tax obligations, it is advisable that you seek the advice of an experienced tax advisor.
- Capital gains tax in Australia is a tax on gains made when disposing of certain business assets. Foreign corporations may be subject to capital gains tax on assets acquired and used to carry on business in Melbourne.
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