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ARTICLE · 17 JUNE 2020

Is my trust a Resident Trust Estate and why does it matter? A case study.

Cooper Grace Ward
Cooper Grace Ward
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Cooper Grace Ward

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Example case study explores tax issues raised when someone stops being an Australian resident.

AustraliaTax
Murray Shume
Murray Shume
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Prior to COVID-19, there was a trend for Australian professionals to move overseas for work at some stage in their life. This trend is likely to continue after COVID-19 restrictions are eased.

The tax issues raised when someone stops being a resident of Australia for tax purposes can be complicated. There are additional complications if the person moving overseas also controls assets held in discretionary trusts.

This case study explores some of these issues.

Case study

Bessie and her family are Australian tax residents. Bessie is an engineer and she accepts a permanent position based in the United States.

Bessie moves to the US with her family. At this time, she stops being a tax resident of Australia.

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© Cooper Grace Ward Lawyers

Cooper Grace Ward is a leading Australian law firm based in Brisbane.

This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please contact Cooper Grace Ward Lawyers.

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