On 1 March 2003 there were major changes to Australia's immigration law in relation to business skills migrants. These changes will have implications for both tax and legal practitioners who are advising business clients that have recently migrated to Australia or are planning to migrate here.
This seminar paper considers the impact of the new migration law and regulation amendments on tax advice and business structuring options for migrants after the legislative changes on 1 March 2003.
Issues considered include:
- is the grant of permanent entry into Australia an indefinite right?
- when is a migrant considered a resident for Australian tax purposes?
- Have the immigration law amendments changed tax residency considerations for new migrants?
- Which business structures are acceptable and which are not?
- Are the exempt FBT benefits still available to the new provisional visa holders?
- Salary packaging of "Living Away from Home Allowances" under the new rules.