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  2023

Inbound transfer of wealth by individuals and family groups

Source: New South Wales

Published Date: 18 May 2023

 

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The world is increasingly mobile, with families spanning across continents. With Australian borders reopening, net migration figures are set to exceed official forecasts.

What are the implications of the transfer of foreign wealth by individuals and family groups into Australia?

This paper explores:

  • Different ways in which the transfer of foreign wealth into Australia can arise including sale of foreign assets, gifts, loan arrangements and inheritance
  • Tax implications on becoming an Australian tax resident
  • Tax implications arising from wealth held in foreign entities including consideration of CFC rules, trust residency, trust distributions and application of section 99B; and
  • Practical case studies and dealing with the ATO.
Author(s)

Individual Session

Author(s): Rachel Vijayaraj
Materials from this session:

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Details

  • Published By: Rachel Vijayaraj
  • Published On:18 May 2023
  • Took place at:Sofitel Sydney Wentworth

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