Tax residency
Understanding your residency status is important, as residents are taxed on their global income, while non-residents are taxed only on income sourced within the country. Tax residency rules in India and Australia are complex and differ depending on your visa status and your intentions. At Nexia we help to simplify this complex issue by offering services to determine your tax residency status, understand the impact of tax treaties to prevent double taxation, and help you to meet your tax reporting requirements.
India Australia Tax Treaty
We analyse the India Australia Double Tax Treaty to prevent double taxation so that you are not taxed twice on your income/gains. We ensure you benefit from the relief provided in the treaty through tax credits, exemptions, or reduced tax rates, depending on the type of income and tax residency status. Our expertise lies in assisting you to optimise your overall tax position.
Tax compliance obligations
We are experts in assisting you with your compliance requirements (i.e. preparation and lodgement of income tax returns) in Australia and India. Post evaluation of your tax residency and income sources, we help you to file your tax returns in both jurisdictions bearing India Australia tax treaty in mind.
Retirement planning
It is important to understand that any withdrawals from your provident funds or retirement funds could potentially lead to tax outflow in another jurisdiction. We are confident to help you navigate taxation of such funds under the tax treaty and ensure you are not over-taxed on your retirement savings.
Estate tax planning
At Nexia Edwards Marshall, we ensure that your assets are transferred to the next generations, or as per your wishes in the most efficient way, while minimising tax liabilities and legal complications. We provide bespoke estate tax planning solutions after evaluating facts and circumstances in each case.
Tax planning for corporates
For business owners expanding operations between India and Australia, understanding corporate tax obligations is essential. Both countries have their own tax systems, but the tax treaty offers relief from double taxation and helps businesses avoid excessive tax burdens.
We can help you to file corporate income tax returns, complying with GST and corporate income tax requirements. We ensure your cross-border transactions between your Indian and Australian entities comply with both countries’ tax legislation and guide on how to benefit from withholding tax rates on cross-border payments like dividends and royalties under tax treaty.
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