Income and Capital Gains Taxes Explained - United States vs Australia

Some of the topics Arete Wealth Strategists Australia Founder/Principal Ashley Murphy, GFP (USA/AUS) CFP®, AIF® addressed include:

Australia thinks in terms of tax, U.S. is ‘taxes’

Both tax on a worldwide basis, but U.S. taxes also taxes based on citizenship.

Filing status differences: U.S. - Single, MFJ, HoH etc. Australia - Resident vs Non-Resident

Rules vs Principles based taxation

Source of income

Top marginal rates: Lower at a Federal Level but higher in certain states

Differences in deductions and credits

Differences in Approach to taxing of Capital Gains - flat rate(s) vs half your marginal rate

We hope you enjoy!

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American business owner living in Australia: https://www.arete-wa.com/case-study/1

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About Arete Wealth Strategists:

Global wealth management for American and Australian Expats. We bring strategy, structure, clarity, confidence and complianceto our clients’ global financial lives and keep it that way.

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