oz export earnings set to reduce by ca 200m, page-2

  1. 5,778 Posts.
    Robocop I can assure you it is worthwhile for anyone with overseas connnections to explore the advantages in Australian Tax Laws... most designed to kick start and encourage overseas connections.

    Austrade are the best initial contact as they are administer of the laws for the ATO.

    refer below:

    Tax Exemptions for Approved Overseas Projects:


    Australian Taxation Office to administer the income tax exemption available under section 23AF of the Income Tax Assessment Act 1936 ('Tax Act').



    Section 23AF should assist the international competitiveness of Australian companies and Governmental organisations competing to win international tenders. This is achieved by granting an exemption from Australian income tax for the earnings of Australian individuals whilst working overseas on approved projects for more than 90 days. The tax exemption should permit project costs to be at an internationally competitive level - that is, in comparison to foreign companies which may operate under similar tax concessions.



    The exemption under section 23AF typically applies to projects in countries where income tax is not levied on employment income, such as in a number of Middle Eastern countries, or where income tax is not levied on foreign workers because the project is funded by an international development agency such as the World Bank or Asian Development Bank.


    Best Regards




 
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