Accountant with Expat Experience

Discussion in 'Accounting & Tax' started by OZinUK, 13th Feb, 2018.

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  1. OZinUK

    OZinUK New Member

    Joined:
    9th Jan, 2018
    Posts:
    3
    Location:
    London, UK
    Hi,
    I am looking for recommendations for an accountant with experience not just with property investing, but with the more complicated aspects associated with being an expat property investor.

    Thanks in advance.
     
  2. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    12,394
    Location:
    Sydney
    Pretty sure @MikeLivingTheDream is based in the Philippines now (according to his profile anyway) ... so an accountant who understands property investing and is also an expat himself might fit the bill?

    Also, check out our other accountant business members - Service Provider Directory
     
    Terry_w and Ross Forrester like this.
  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    Any experienced property tax adviser will be confident in the tax issues for a person non-resident. Its fairly fundamental. The issue is that the tax adviser is stong on property tax matters. Many claim to be. The tax advisers on PC all seem to know their stuff.

    Note that recent CGT law changes vastly impact these people and specific advice on the impact should be understood. Selling a former home for example while overseas would mean loss of all past exemptions. Loss of CGT discounts and potential need for property valuation when CGT discounts were stripped may also be relevant. Non-property CGT events triggered by change of residency need to also be understood (eg shares) and how taxes impact these.

    I recommend foreign resident investors keep ONE set of rental records in the currency of the country for the property that is divided into the respective tax periods (monthly is ideal) so that the (eg) UK and Australian tax adviser each can share the identical information but for different periods of time. Any taxes paid in the country of residence on that income may be credited to the country where the property is located to eliminate double taxation.
     
    Simon Hampel likes this.
  4. Mike A

    Mike A Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    2,656
    Location:
    UNIVERSE
    Yes i have a wealth of experience now with international tax in 4 jurisdictions now. Im currently in Vietnam but returning to Australia permanently around July basing myself back in Melbourne. But happy to discuss expat tax issues. Its not as easy as you think and you need to consider the country you are in as well.

    Had a great time training around 300 Accountants doing tax and accounting work for Australian firms in the Philippines. I still continue to train them but that will done via webinars and two trips back a year. Some very large firms with teams there now.

    Ill base myself with Wilson at House of Wealth and looking at integrating with a larger Melbourne practice to take advantage of my corporate and international tax experience. I had been providing consulting advice to a tax law firm on international tax and that area is exploding.
     
    Last edited: 13th Feb, 2018

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