With borders opening up, the world is once again our oyster, and many Australian residents are going global. Whilst this is welcome good news, less welcome are the challenges that can arise when unravelling the tax issues. This practical session will examine Australian taxation rules regarding residence and consider the tax implications of various case studies, including:

• I am working overseas on a 2-year contract but plan to live and work overseas indefinitely. Surely I don’t have to pay Australian tax? What if I work in a number of different countries? Is this affected by draft Tax Ruling TR 2022/D2 (issued 6 Oct 2022)?
• My son has a great job in London where he is living with his cousin. Surely he doesn’t have to pay Australian tax? What if he is working in a pub?
• My daughter and her partner are moving overseas for a number of years. They won’t pay tax if they sell their Australian main residence while they’re away, will they?
• When I worked in the U.K., I bought a flat in which I lived, then rented to tenants, but am now selling. I won’t have to pay U.K. or Australian tax on the gain, will I?
• I have just returned to Australia after working in Asia. While I was away, I set up a trust to own a property that has now been sold. Do I have to pay tax if the trust is wound up and cash is distributed to Australia? What if I keep the offshore trust?
• I am moving to NZ for 3 or 4 years. Do I have to worry about my Australian SMSF?
• I have just returned to Australia after working in the U.S. Can I access the balance in my 401k plan? Presumably the 401k will be treated like superannuation in Australia?