Still a US citizen and still liable for US taxes.
Yui Mok/PA Wire/PA Images
Taxation is not the only financial burden for overseas Americans.
The wheels of the economy will grind more slowly because of undeclared tax rate hikes in the budget.
The government promised to eliminate the 37% tax rate. Instead, for a certain range of income, it has lifted it to 40%.
To start with each side offers a “lamington” (Low and Middle Income Tax offset), then the differences get serious.
After some years the Coalition's proposals would cost $40 billion per year more than Labor's, but by then Labor will have probably cut tax further too.
What’s not to like about a flatter tax system? Well, for starters, the one laid out in this budget won’t actually simplify our lives.
Flat tax is simple, Kondo simple. But that doesn't mean it simplifies lives.
The budget tax cuts aren’t tax reform, and probably can’t be paid for over the longer term.
Should the Coalition's $300 billion of tax cuts ever be enacted, they would push the budget back towards deficit.
Much of what’s been promised would have had to happen anyway.
The promised tax cuts will benefit high earners in 2022 and 2024, but by then they'll need it.
So far, Labor is $95 ahead of the Coalition, for many Australians.
The debate about tax cuts has morphed into a debate about annual lump sum payments, and for many Australians, Labor is offering more.
Accountants can help you figure out the difference between avoiding taxes and evading taxes.
It's tax season. That's why Canadians must pay close attention to the possibility of going from the tax avoidance realm into tax evasion when preparing their tax returns or hiring an accountant to do so.
There are words you’ll need to understand. But imputation is complex, like the tax system.
Wes Mountain/The Conversation
If you can understand this, you might just understand the election. Here's our quick guide to the language of dividend imputation.
Scott Morrison as treasurer during the May 2018 budget lockup.
The promised budget surplus depends on everything going right, and much more income tax says the Parliamentary Budget Office.
Minister for Finance Mathias Cormann, Prime Minister Malcolm Turnbull and Treasurer Scott Morrison announce the passage of their income tax package.
It was a busy week in politics, with the federal government passing its income tax package, more squabbling over the ABC, and all parties gearing up for the July 28 byelections.
Mathias Cormann won Senate support for a motion for the bill when it is returned on Thursday to be voted on without further debate.
The Senate on Thursday is set to pass intact the government's $144 billion three-stage income tax package - but whether the plan is fully delivered will depend on who wins the election.
Forecasting income tax a decade into the future is a tricky proposition.
AAP Image/Joel Carrett
The income tax cuts in the 2018 federal budget are likely to be modestly regressive, giving high earners a lower share of the overall tax burden. But by 2028 income tax will be higher across the board.
Richard Di Natale said that Australia had a “tax avoidance system” rather than a “tax system”.
The Greens plan would bring in "a Buffett rule" to ensure higher income earners paid their fair share of tax by limiting deductions made by those earning more than $300,000.
Morrison says the budget will deliver tax relief for middle to lower income Australians.
The government is pinning its hopes on making this election all about tax – casting itself as champion of lower tax and Labor as signed up to what Morrison dubs the "high tax club".
The key reason for the squeeze on household spending and saving is of course the ongoing weakness in the growth rate of household disposable income.
The government says personal income tax cuts are needed to provide relief from low wages and high cost of living, but will tax cuts make up for that?
Filling out tax forms used to be an exercise in legalese torture for Canadian taxpayers. Canada has come a long way, but can still to more to simplify filing taxes.
THE CANADIAN PRESS/Chris Young
In the 1950s, Canada made it easy for employees to file their income tax. Now let's simplify the process for others, too.
The economic credentials and plans of the two major parties are shaping up as a big election battleground.
Politics podcast: Michael Keating on a Fair Share.
The Conversation 54.4 MB (download)
Keating told The Conversation that taxation revenue will need to rise by another 3 percentage points of GDP in the next three decades.
It may opens doors but follows wherever you go.
AP Photo/Benny Snyder
Congress changed the tax system to benefit companies with overseas operations but failed to help Americans actually living abroad, who still face punitive taxation.
Australian Chamber of Commerce and Industry chief executive James Pearson, speaking on Q&A.
On Q&A, Australian Chamber of Commerce and Industry chief executive James Pearson said almost 60% of small business owners in Australia are paid $50,000 or less. Is that right?