The challenges of relocating to another country
Today’s workforce is increasingly mobile and global. Many Australian professionals will at some stage of their career either further their professional development by relocating to another country, or be offered the opportunity of an expatriate assignment.
Similarly, if you are a successful Australian entrepreneur, your business growth plan may well involve expanding your operations into foreign countries.
For high-wealth individuals, relocation may present a desirable and perhaps permanent option, by offering the benefits of a more favourable tax environment.
Planning for the financial and legal impacts
Relocating to another country brings into consideration factors such as the culture, language and climate of the new location, as well its political and economic stability, together with the standard and cost of living you should expect.
Just as importantly, you need to understand how the new jurisdiction will impact your financial situation and taxation obligations, and the effect that changes to your legal status in both your home country and your host country, will have on you and your expatriate family.
Markiewicz & Co. can assist you plan for relocation by providing advice regarding the difference between tax systems at home and abroad; legislative changes that need to be considered when revising your financial plan; and information regarding pensions and insurances.
Likewise, we can help you with planning for your return to Australia, to ensure you avoid negative tax consequences or are able to benefit from positive tax results.
Before you leave, talk to Markiewicz & Co.
By planning your relocation strategies with your Markiewicz & Co. adviser, you’ll be fully prepared to maximise the benefits of working and living overseas. For more information on relocation planning, call us on 1300 276 112 or send an email.