Urgency to Flee Australia Before New Rules Take Effect

New Australian rules about to make escaping the tax net much harder

Wealthy people are fleeing before they come into effect.

It was already quite difficult to cease to be Australian tax resident, even if you leave the country!
You could spend as little as 45 days in Australia (while living abroad for the rest of the year) to be considered Australian tax resident! That's insane!

There have been talks about implementing what's called ''Bright Line'' Residency Test, a test that would make it clear whether you're a tax resident of the country or not.

It is difficult to escape the Australian tax net, and it will get even more difficult in the future so it's best to plan accordingly.

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