However the Australian taxation of trusts is complex especially in relation to international trusts with Australian resident beneficiaries or settlors. Automatic information exchange under the OECD’s Common Reporting Standard (CRS) will soon place increased focus on ensuring that international structures comply fully with Australian laws.
CST can provide advice to clients, trustees, professional fiduciaries and beneficiaries on the formation, amendment and ongoing management of Australian trusts.
For clients who are returning to Australia with international trusts we can provide you with the expert advice you need to be able to move forward with confidence, ensuring that your comply with your disclosure obligations in relation to assets held in foreign trusts. Some trusts may need to be restructured to ensure to ensure negative tax consequences do not arise in Australia.
Australian expats who have been living overseas for many years have commonly established international trusts. Upon returning home to Australia the income derived within these trusts will usually be taxable under Australia’s tax laws relating to non-resident trust estates. We are specialists in this area of taxation and can help you comply with Australia’s complex laws.
For Australian’s moving overseas we can provide advice in relation to the ongoing tax treatment of Australian family trusts that may exist. We can also work with our offices so that if you are moving to the United States or the UK that you receive the right advice as to how the tax laws of those countries will effect your Australian family trust.
We care. CST’s guiding philosophy is to understand and have empathy with our clients while providing specialist tax advice and services. As a specialist firm providing Australian international tax advice we are able to accept clients who wish to proceed with our Initial Tax Review service. Click here.
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