Given the current uncertainty in the world, many Australians living in Singapore may be considering a return to Australia.
For most Australians working in Singapore, a good income coupled with low-income tax usually means that a decent amount of savings will be sitting in the bank at the end of their stint. Whilst tax is low in Singapore, it is certainly not the case in Australia.
Australian’s returning home with significant assets and wealth accumulated while in Singapore, will find the Australian taxation system will hit hard unless they make a plan!
Our Singapore E-team member, CST Tax Advisors participated in a webinar with St. James’s Place Wealth Management to discuss some of the important things you need to plan for while in Singapore to avoid getting bitten by the ATO when returning home to Australia.
Copy of webinar to come. Stay tuned.