Proposed New Individual Tax Residence Rules

Over 2 years after Individual Tax Residence legislative changes were announced in the former Government’s 2021/22 Federal Budget, on 21 July 2023 Treasury released a Consultation Paper “Modernising the Individual Tax Residency Rules” ahead of implementing a new and simplified approach to Australian Individual Tax Residence in future income years (following future Royal Assent to final legislation).  We summarise the previously proposed changes and key new consultation questions below.

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