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Tax residency rules set for overhaul to attract talent

Individual tax residency rules and the tax treatment of employee share schemes are set for an overhaul as the government looks to attract talent to Australia in the wake of the pandemic.

by | 12 May, 2021

TPB eyes 2,000 practitioners responsible for $1bn in overclaimed tax deductions

As part of Tuesday’s federal budget, the government has announced that it will move to act on a 2019 Board of Taxation recommendation to replace the current individual tax residency rules with a simple 183 days bright line test– where an individual who spends 183 days or more in Australia is regarded as a tax resident.

Read more at the Accountants Daily. 

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