Oceania & Pacific · Australasia
Australia
Australia has deliberately exited the business of selling residency: there is no longer any price at which a passive investor can buy their way in, and the tax system punishes those who arrive permanently and those who leave.
Tax position
- Income tax (top)
- 45% on income over AUD 190,000, plus a 2% Medicare levy
- Capital gains
- taxed as ordinary income; 50% discount for residents on assets held over 12 months; discount apportioned away for periods of non-residence since 8 May 2012
- Wealth tax
- none
- Inheritance tax
- none — no estate or gift duty, but CGT applies on later disposal and superannuation death benefits can be taxed at 15–30% plus levy when paid to non-dependants
- Special regime
- Temporary resident concession (ITAA 1997 Subdiv 768-R): most foreign income and foreign capital gains are exempt — but only for temporary visa holders, never for permanent residents
- Territorial
- No — worldwide income taxed
- CFC rules
- Yes
- Exit tax
- Yes — leaving has a cost
- CRS
- Participating
Closed — listed so you do not chase them
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