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Tax residency reforms ‘a step in the right direction’

Tax residency reforms ‘a step in the right direction’

While the government’s newly announced reforms to individual tax residency emerge as a positive step towards boosting competition and simplifying often complex tax residency laws for some, others remain wary of the details.

by Shared by Accountants Daily | 13 May, 2021

FBT overhaul ‘not a priority’ for government

As part of its 2021–22 federal budget, the Morrison government announced that it will replace current individual tax residency rules with a new, double-pronged approach centred around a bright line test that addresses recommendations made by the Board of Taxation in 2019.