U.S. Expats Living in Australia

Our new Constitution is now established, everything seems to promise it will be durable; but, in this world, nothing is certain except death and taxes. ~Benjamin Franklin, letter to Jean-Baptiste Leroy, 1789 November 13th

 

U.S. Expatriate Tax Specialists

Our goal goes well beyond just preparing your tax return. We also help you to comply with your tax obligations in the U.S. and Australia through proactive tax planning. Our services are tailor made for your benefit.

USTaxCentral Australia is the best choice for all your U.S. and Australian tax needs. Our team of professionals will make your tax experience worthwhile and easy to follow.

Did you know?

  • S. citizens and resident aliens who maintain a tax home outside the U.S. and its territories are still subject to tax on worldwide income and must file a tax return.
  • If you have a trust, you are required to file informational forms about the trust.
  • If you own a foreign business or are a director of a Foreign Controlled Company, you need to report need to file an informational tax return about the foreign company.
  • If you have aggregated bank accounts of $10,000 or more, you have a filing obligation to report these bank accounts.

Tax Briefing

Expatriates are subject to U.S. tax on their worldwide income and, as such, must file a U.S. return for all the years they are residing abroad. However, an expatriate may be able to reduce U.S. taxable income by claiming foreign earned income and housing exclusions or reduce U.S. tax liability by application of foreign tax credits.

Tax Highlights

  • S. citizens and resident aliens who maintain a tax home outside the U.S. and its territories are still subject to tax on worldwide income and must file a tax return.
  • Taxpayers who maintain a tax home outside the U.S. and its territories may be eligible to exclude all or a portion of their earned income from U.S. taxable income.
  • Taxpayers who relinquish their U.S. citizenship or permanent residency may be subject to expatriation tax.
  • If you receive a notice from the IRS, do not panic as most matters are resolved simply and painlessly.
  • Remember the IRS never initiates contact through email.
  • Normally, tax records should be kept for three years. However, some documents such as records relating to a home purchase or sale, stock transactions, IRA and business or rental property should be kept longer