What: Since the passage of FATCA in 2010 and Australia’s acquiescence in the form of the FATCA IGA (signed in 2014), an increasing number of US citizens resident in Australia have become aware of their US tax obligations. For many the solution has been to renounce US citizenship. This will be an informal and interactive presentation covering questions such as:
- My bank asked for my US SSN? Does that mean I must file US tax returns?
- What does filing US tax returns mean for my super? My Australian investments? Will I be double taxed?
- Does filing both US and Australian taxes defeat the objectives of financial and retirement planning in Australia?
- What is the transition tax? GILTI? Is it still viable for a US expat to own a small business in Australia?
- Will the US ever fix these problems by joining the rest of the world in taxing based on residence rather than citizenship? What is this new “TTFI” that I have heard about?
- How do I renounce/relinquish US citizenship? Do I have to pay an exit tax on my Australian assets?
- How do I determine whether renunciation is right for me?
- If I renounce what happens to my Social Security? My IRA or 401(k)?
- How does renouncing US citizenship affect my ability to travel to the United States?
Who: This is a joint presentation by Karen Alpert and John Richardson.
Karen Alpert founded the website Let’s Fix the Australia/US Tax Treaty and its associated Facebook group. The purpose of the group is to lobby and educate the Australian government regarding the impact of extraterritorial US laws on Australian citizens and residents and the cost to Australia of surrendering its sovereignty in these matters. Karen has a Ph.D. (UQ, Finance) and lectures in Finance at the University of Queensland.
John Richardson is a Toronto citizenship lawyer, the co-chairman of The Alliance for the Defence of Canadian Sovereignty as well as the Alliance for the Defeat of Citizenship Taxation. He is a member of the ACA Taxation Advisory Panel. He holds the degrees of B.A., LL.B., and J.D. He is a member of the Massachusetts, New York and Ontario bars. His law practice focuses on “Solving the problems of U.S. citizenship” including relinquishing and the “Exit Tax”. He gives programs for expats (and Green Card holders) all across Canada and Europe. He writes extensively at citizenshipsolutions.ca.
Where/When: 7pm – 9:00 pm Thursday 25 October, 12 Payne St., Auchenflower QLD (Fibrecraft House)
Google Maps Link: https://goo.gl/maps/8vJKgfD1x5t
THIS SESSION IS OF A GENERAL NATURE. IT IS NOT INTENDED TO AND SHOULD NOT BE UNDERSTOOD TO OFFER LEGAL ADVICE OF ANY KIND.
Additional Sessions (John Richardson only)
- October 31 – Auckland, New Zealand
- November 1 – Sydney, Australia
For information see: