Australian Chamber Wants Hong Kong to Work Out Double Tax Treaty
- Without deal, Australian expats risk paying taxes in 2 places
- Chamber chair says agreement exists in places like Singapore
Hong Kong, China
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
A double taxation treaty with Hong Kong proposed by Australia’s Chamber of Commerce in the finance hub could save the country’s expatriates from paying tax in two places.
Currently, under Australia’s tax residency rules, anyone who spends more than 183 days a year inside the country will need to pay Australian tax — no matter where they live the rest of the year. The Australian government is consulting on changes to its individual tax residency rules that could see those who spend shorter stretches of time in their home country also targeted.