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Tax Residency for Individuals Web Series 2024 Session 1

Recorded 19 September 2024. Determining residency status

Understand the ATO’s recent ruling on residency issues
Why it is crucial to understand and apply the temporary resident rules
Applying complex rules to common client scenarios

Recorded 19 September 2024

The residency status of an individual is crucial in determining the types of income and gains they will be taxed on and how much tax they pay in Australia. However, determining whether someone is a resident, non-resident or temporary resident can be difficult, especially when clients have ties to two or more countries. 

In the Tax Residency for Individuals Web Series, we look at each of the four residency tests that apply to individuals and clarify how to work through each of the tests in practice. We also consider how double tax agreements might impact on the outcome, including how to approach ‘tie-breaker’ tests. 

We explore some of the recent decisions handed down by the Tribunal and Courts on residency issues and what these decisions mean for our clients.  We also take a look at the key issues identified by the ATO in the recent residency ruling – TR 2023/1.

Total 1.25 CPD Hours

Session 1: Determining residency status

Step-by-step approach to working through each of the 4 residency tests 
Working through double tax agreements and the tie-breaker tests for residency 
Practical issues and common problem areas 
Steps that can be taken by clients to minimise risk, including documents and evidence that can help support the client’s position 
The latest ATO guidance and court decisions and the impact these have on how we approach residency issues

Rae Ni Corraidh

Tax Adviser, Knowledge Shop

Rae is an experienced tax advisor and trainer focused on helping practitioners apply complex tax rules to real life scenarios. She has a genuine passion for helping practitioners find a solution to the tax problems that their clients face (and sometimes unwittingly cause).

She understands the challenges faced by practitioners and brings a wealth of practical experience to Knowledge Shop workshops and webinars to ensure participants walk away with the knowledge and tools they need to help their clients navigate the technical issues they are facing.

Rae holds a Masters in Commerce specialising in tax and has over 20 years tax experience in professional services firms, ten in Big 4 firms both in Australia and internationally and has held management positions in mid-tier firms.