US Tax Advice and Services in Australia
US citizens or permanent residents (green card holders) remain liable for taxation on their worldwide income, regardless of where they are resident, and must file a US Income Tax Return (ITR) every year if they have a filing requirement. Generally, returns must be filed by April 15 of the following year, although citizens and green card holders who are resident outside the US, for example in Australia, are entitled to submit their returns up to two months later (June 15).
While an extension is possible, note that taxes must all be paid by April 15, or you may be assessed an interest penalty. Additionally, US citizens and permanent residents living outside the US will also often need to submit FBAR and FATCA returns on an annual basis and significant penalties can apply for late or missing submissions.
Exfin provides access to a registered US tax adviser who is also able to prepare associated Australian tax returns, if required. This approach is both more efficient, meaning that the client does not have to prepare supporting material for two advisors, and means that their tax affairs are often more effectively managed because the advisor has access to "both sides of the equation". Where the advice required is significantly more complicated, involving for example corporate or estate matters, access is also available to a US based tax advisors and attorneys who specialise in providing advice Australian expatriates in the US and US citizens in Australia - and have a working familiarity with the US/Australia double tax agreement.
The fees applying for the completion of returns, or specific advice, are driven fundamentally by the complexity of the work required and you will be provided with a fixed quote in advance of any work being carried out. However, as a guide, the fees applying to the completion of the most basic US return - comprising a US W-2 and a few interest/dividend payments with standard deductions - would be approximately $400 plus GST.
Please complete the Inquiry form below should you wish to access US tax advice - we respond promptly to all inquiries.