Implications of Tax Treatments on Foreigners in Australia

Running head: TAXATION LAW
Taxation Law
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TAXATION LAW
Table of Contents
Introduction......................................................................................................................................2
Different tax treatments and implications for foreigners.................................................................2
Identification of the tax treatments which varies according to the foreigners and residents...........3
Implications of the identified treatments to foreigners....................................................................5
Conclusion.......................................................................................................................................5
References........................................................................................................................................6

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TAXATION LAW
Introduction
The main discourse of the study has stated on the implication of different tax treatments
and its impact on the foreign business in Australia. The facilitation of the information pertaining
to the report has related to the issues which are identified in terms of the tax treatments which
vary according to the residents of Australia. The study has also compared the tax amounts with
the residents and foreigners for the taxation purpose. The discussions of the various types pf the
information in the report has been further conducive in stating the implication of the tax
treatments to the foreigners.
Different tax treatments and implications for foreigners
The foreign residents in Australia are needed to lodge a tax return in Australia. In
addition to this, an individual must be able to pay on the sources income from the Australian
residents which has been already considered for taxation. These sourced incomes are depicted as
per royalties, unfranked dividends and interest. The tax treaties in Australia are seen with the
treaties which are see in thee other countries which may affect the total amount of the tax which
needs to be paid as per the prescribed tax slab in a country. The financial institutions in Australia
needs to be further update the overseas address along with the residency status and correctly
deduct and taxation amount. This will be also considered with reducing the actions as per the
Australian legislation or the tax treaty maintained in a country which may have an effect on the
amount of tax which needs to be paid. The owners of the Australian financial institutions need to
be also ensure that they have updated the overseas address and status of their residency which
will be deducted to compute the correct amount of tax. This is seen to be having an impact on
reducing the follow up of the actions by Australia or foreign country in case of any discrepancy.